Housing Wire

SEPTEMBER 13, 2022

The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. It all started when mortgage rates jumped from 5.25% to 6.25% this year and I saw how home sellers reacted to that move.

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Mortgage Inventory New Listings Sellers 525

Housing Wire

AUGUST 22, 2023

The housing market continues to cool amid high mortgage rates , low inventory and rising property insurance rates. Elevated mortgage rates and low inventory As of August 17, mortgage rates surpassed 7% as U.S. bond yields hit their highest level since 2008. The National Association of Realtors (NAR) suggested a 2.2%

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Buyers Inventory Realtors Housing Market 369

Housing Wire

OCTOBER 12, 2022

It’s no coincidence that the post-2008 crisis mortgage expansion happened to occur during a period marked by transformative technological change in the industry. Most people outside of the mortgage industry are not even aware that one of the largest mergers between mortgage technology firms is on the verge of taking place.

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Mortgage Technology Business Contracts 435

Housing Wire

SEPTEMBER 19, 2022

The NAHB/ HMI report is based on a monthly survey of NAHB members, in which respondents are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. For 21% of respondents, however, “nothing” had improved.

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Buyers Housing Market Construction Marketing 397

Housing Wire

MAY 8, 2024

After 2010, qualified mortgage laws were in place, meaning everyone getting a mortgage has to be able to repay the loan. You can see the drastic change this made in the Mortgage Bankers Association Credit Availability index , below, which skyrocketed in 2005 and 2006 before an epic collapse in 2008.

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Inventory Law New Listings Sellers 518

Housing Wire

SEPTEMBER 28, 2020

million housing starts, not anytime from 2008-2019. Compare today’s housing market with that in 2018, when mortgage rates were heading toward 5% and monthly supply went above 6.5 The monthly supply of new homes was mostly higher every month in the previous expansion (2008-2019) than any period from 1996-2005. million a year.

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Inventory Buyers Housing Market Mortgage 532

Housing Wire

DECEMBER 7, 2022

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

Housing Market 544

Housing Market Mortgage Marketing Inventory 544

Housing Wire

DECEMBER 15, 2023

After two straight years of double-digit declines, home sales will pick up in 2024 thanks to lower mortgage rates. Once the December data for existing home sales is tallied up, 2023 could be the worst year for existing home sales seen since 2008 or since 1995, Yun said during his presentation. Yun expects home sales to rise next year.

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Sellers Buyers Mortgage Investing 493

Appraisal Buzz

SEPTEMBER 25, 2024

In fact, the last time the FOMC cut rates by half a point was during the 2008 global financial crisis. The Fed’s initial cut is likely to bring more buyers and sellers to market, potentially opening the inventory floodgates and momentum for price competition. An estimated $1.45

Mortgage 393

Mortgage Loan Officers Technology Contracts 393

Housing Wire

MAY 3, 2024

Thanks to high mortgage rates , mortgage refinance rates, and even higher home prices , the vibe among homebuyers has been fairly bleak these past couple months. Serious buyers showed discernment as they know inventory is growing. To that I say, timing is everything in real estate. With only 1.3

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Inventory Lending Inspection Real Estate 451

Housing Wire

MAY 18, 2022

However, the sting of higher mortgage rates is hitting the single-family construction data, and the real story is that the housing completion data, which has been bad for a long time, is still terrible. We simply cannot finish homes in America promptly, and now that mortgage rates are over 5%, some buyers won’t be able to purchase a home.

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Mortgage Construction Contracts Housing Market 493

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

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Business Mortgage Loan Officers Inventory 459

Housing Wire

SEPTEMBER 16, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage rose to an average of 6.02% this week ahead of the Federal Reserve ’s much-anticipated interest rate hike next week. Daily mortgage rate calculators are showing 30-year fixed rates at 6.30% and above. A year ago at this time, rates averaged 2.86%. .

Mortgage 435

Mortgage Inventory Buyers Marketing 435

Housing Wire

AUGUST 23, 2023

Mortgage applications fell for the fifth consecutive week as the 30-year fixed-rate mortgage rose to 7.31%, its highest level since December 2000. For the week that ended August 18, mortgage applications fell 4.2% from the prior week , according to data from the Mortgage Bankers Association. bond yields spike last week.

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Mortgage Contracts Government Buyers 370

Housing Wire

SEPTEMBER 8, 2022

People’s first reaction was to wonder if this was 2008 all over again. Well, it isn’t 2008, but this type of loan does have risk — and it’s the risk that is traditional among all late economic cycle lending in America when the loan requires low or no downpayment. Remember, the system is designed to keep home prices inflated.

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Inventory Law Housing Market Design 544

Housing Wire

MARCH 22, 2023

Consumer demand for home loans rose for the third consecutive week due to declining mortgage rates , following the turbulence in the financial markets caused by regional bank failures. ” Borrowers took advantage of lower rates and mortgage applications rose 3% on a seasonally adjusted basis from one week earlier. .

Mortgage 435

Mortgage Investing Brokerage Marketing 435

Housing Wire

OCTOBER 11, 2021

First and foremost, it is important to remember that more Americans are buying homes with mortgages in 2020 and 2021 than any single year from 2008-2019. From 2008 to 2019 we had the weakest housing recovery ever, following a bust. We had no chance of reaching this number during the years 2008 to 2019.

Housing Market 535

Housing Market Marketing Construction Investors 535

Housing Wire

OCTOBER 20, 2023

The last two years of soaring mortgage rates and rising home prices have brought the fastest erosion in housing market affordability in modern history, and it’s hurt first-time homebuyers the most. To conduct this analysis, Redfin compared median monthly mortgage payments for homebuyers in August 2023 and August 2022.

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Housing Market Marketing Buyers Modernization 511

Housing Wire

MARCH 21, 2023

9, when mortgage rates started to fall from 7.37% to 5.99%. In 2022, it was all about affordability as mortgage rates had a historical rise. Even though mortgage rates were falling in November and December, positive purchase application data takes 30-90 days to hit the sales data. Year-over-year, sales fell 22.6% (down from 5.92

Mortgage 511

Mortgage Housing Market Inventory Law 511

Housing Wire

NOVEMBER 4, 2024

Elevated mortgage rates, sky-high home prices, tight credit and stagnant wages have all contributed to homebuyers getting older. Newly released data from the annual profile of home buyers and sellers by the National Association of Realtors (NAR) shows just how dramatically this trend has manifested since the financial crisis of 2008.

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Real Estate Agent Buyers Sellers Realtors 345

Housing Wire

APRIL 21, 2022

After crossing the 5% threshold last week, mortgage rates have provided no indication that they’ll drop below that mark anytime soon. Purchase mortgages this week averaged 5.11%, up 11 basis points from 5% a week ago. The GSE’s index accounts for just purchase mortgages reported by lenders over the past three days.

Mortgage 370

Mortgage Buyers Realtors Marketing 370

Housing Wire

AUGUST 24, 2023

Mortgage rate shot up again last week as the bond market continues to grapple with a growing economy in the run up to the next Federal Open Market Committee meeting. By contrast, the 30-year fixed-rate mortgage was at 5.55% a year ago at this time. Other indices showed even higher mortgage rates.

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Mortgage Property Taxes Investors Buyers 370

Housing Wire

NOVEMBER 26, 2024

The Federal Housing Finance Agency (FHFA) has set a new baseline conforming loan limit of $806,500 for one-unit properties in 2025, authorizing Fannie Mae and Freddie Mac to purchase mortgages up to this amount. The adjustment indicates a weaker housing market this year, driven by still-elevated mortgage rates.

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Finance Home Value Mortgage Government 435

Housing Wire

MARCH 2, 2023

When the entire mortgage industry saw volume drop by more than half in 2022, nearly every lender emerged with battle scars. Non-qualified mortgage (non-QM) wholesale lender A&D Mortgage , however, saw origination volume increase by more than 31% to $3.2 billion in 2022, up from the previous year’s $2.2

Mortgage 418

Mortgage Investors Development Investing 418

Housing Wire

AUGUST 13, 2023

Last week ended with a wild ride for mortgage rates. We anticipated the two inflation reports could help mortgage rates, however, we had a bad bond auction last Thursday, and the 10-year yield rose sharply. This pushed yields higher Thursday and Friday to move mortgage rates to 7.19%. We saw an example of that last week.

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Mortgage Inventory New Listings Retail 370

Housing Wire

JULY 7, 2022

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today. To view the complete research, click here.

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Inventory Marketing Mortgage Supply Chain 418

Housing Wire

MARCH 23, 2022

We finally got mortgage rates to rise, and for people like me who have been concerned about how unhealthy the housing market was last year — and it got a lot worse this year — it’s a blessing that was much needed. million line in the sand has been this: Home prices grow above that 23% level: check Mortgage rates spike higher: check.

Mortgage 505

Mortgage Inventory Housing Market Construction 505

Housing Wire

JUNE 21, 2022

The stock market has not been kind to mortgage lenders – some are now trading in the $1-a-share range. In a one-week period between June 10 and June 17, 11 publicly traded mortgage companies lost a collective $6.14 Investors are fleeing from mortgage companies that are struggling to generate cash – meaning those not delivering profits.

Mortgage 418

Mortgage Valuation Investors Finance 418

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. The expansion comes amid a surge in mortgage rates and declining loan origination volume.

Mortgage 397

Mortgage Construction Lending Real Estate 397

Housing Wire

NOVEMBER 29, 2022

The federal government, through government sponsored enterprises Fannie Mae and Freddie Mac , for the first time ever will also back mortgage loans north of $1 million, with the new ceiling loan limit for one-unit properties in most high-cost areas at $1,089,300 — or 150% of $726,200.

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Government Mortgage Finance Law 370

Housing Wire

DECEMBER 8, 2022

Mortgage rates continued the downward trend this week amid signs that the U.S. That’s why the average 30-year fixed-rate mortgage rate decreased to 6.33% this week, down 16 basis points compared to the previous week, according to the latest Freddie Mac survey. economy is cooling down due to the tightening monetary policy. drop in 2023.

Mortgage 397

Mortgage Home Value Construction Investors 397

Housing Wire

JANUARY 5, 2024

Few things affect the real estate market more than the rise and fall of interest rates , which has a ripple effect that directly influences everything from buyer behavior to market trends. How interest rates impact your clients Let’s look at how interest rates can impact buyers, sellers or homeowners looking to refinance.

Real Estate 468

Real Estate Agents Marketing Sellers 468

Housing Wire

MARCH 26, 2023

These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory. Here’s a quick rundown of the last week: The 10-year yield had a Lord of Rings battle at a critical technical level, pushing mortgage rates lower at the end of the week with no real break in the bond market.

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Inventory Housing Market Marketing Mortgage 476

Housing Wire

DECEMBER 16, 2021

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates?

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Marketing Mortgage Supply Chain Inventory 482

Housing Wire

MAY 18, 2023

From NAR : First-time buyers were responsible for 29% of sales in April; Individual investors purchased 17% of homes; All-cash sales accounted for 28% of transactions; Distressed sales represented 1% of sales; Properties typically remained on the market for 22 days. This is not, nor can it ever be, like 2008.

Housing Market 539

Housing Market Marketing Inventory Mortgage 539

Housing Wire

MAY 24, 2022

Multiple crops per year: Move-up buyers and refinancing. Servicers of the ARM loan start calling them in 2008 for a locked rate or fixed, lower rate. Over 25 years, this one person has been a mortgage customer of six different mortgage companies, each saving him over $100 per month. They happily accept 5.50% fixed.

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Mortgage Real Estate Agent Business Loan Officers 459

Housing Wire

DECEMBER 13, 2024

The recent CoreLogic Homeowner Equity Insights report for Q3 shows a continued positive trend of a lack of underwater mortgages in America today. Underwater mortgages where borrowers owe more on their home than what it is worth pose a risk of foreclosure and hinder people from selling their homes, something that was rampant after 2008.

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Sellers Mortgage New Listings Realtors 239