Remove 2008 Remove Inventory Remove Loan Officers
article thumbnail

Housing Market Tracker: Spring inventory falls

Housing Wire

Just when I thought it was safe to say we were getting more traditional spring housing inventory , we hit a snag last week, as active inventory and new listings declined. Weekly housing inventory The numbers this week are unfortunate: inventory should be growing like it does at this time every year.

Inventory 505
article thumbnail

Mortgage market affordability and inventory challenges

Housing Wire

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. Inventory rising, historically low.

Inventory 418
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How AI Can Help Solve the Mortgage Industry’s Cyclical ‘Problem’

Appraisal Buzz

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. What will lenders do?

Mortgage 393
article thumbnail

Movement Mortgage lays off 170 employees

Housing Wire

Founded in 2008, Movement Mortgage focuses on providing loans quickly and easily to homebuyers, with a network of loan officers in more than 775 locations nationwide, and more than 4,500 employees, the company’s website shows. Movement did not respond to multiple requests for comment. Sound familiar?

article thumbnail

HW+ Member Spotlight: Reina Ramos

Housing Wire

While borrowers can shop online these days and follow an automated experience, it doesn’t equate to working with a seasoned professional loan officer and learning what to expect first-hand. We know refinance volumes will dry up due to rising rates, borrowers not exiting their homes due to the reduced inventories.

Inventory 397
article thumbnail

How loan originators survived a cutthroat mortgage business in 2023

Housing Wire

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

Business 459
article thumbnail

How the Fed’s rate hike will affect the housing market

Housing Wire

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. There’s still demand for homes, loan officers told HousingWire. “I