Housing Wire

NOVEMBER 30, 2021

The federal government will now back mortgage loans of nearly $1 million, with the new ceiling loan limit for one-unit properties in most high-cost areas now $970,800 — or 150% of $647,200. In the third quarter, the FHFA announced that its house price index saw the largest increase since the metric was introduced in 2008.

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Government Mortgage Home Value Finance 536

Housing Wire

AUGUST 25, 2022

South Carolina-based Movement Mortgage has acquired the brokerage Superior Rate Mortgage of New England to expand operations in the region, the company announced Wednesday. Founded in 2014, Massachusetts-based Superior Rate Mortgage reached $412 million in sales volume in 2021. The terms of the deal were not disclosed.

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Brokerage Mortgage Loan Officers Real Estate Agent 497

Housing Wire

NOVEMBER 15, 2024

This is the kind of information you need as we get close to Thanksgiving and share the dinner table with Uncle Dave who says (for the 13th year) that we’re seeing 2008 all over again. Foreclosure data The chart below shows that the 2008 housing crisis started years before the 2008 recession.

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New Listings Sellers Mortgage Law 498

Housing Wire

APRIL 17, 2024

The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. FHFA Director Sandra Thompson explained that such options are needed in the current mortgage rate environment.

Mortgage 514

Mortgage Government Design Finance 514

Housing Wire

NOVEMBER 9, 2021

One of the most unloved American economic success stories has been how spectacular American households with mortgage debt look today. We can see a slow and steady positive downtrend in stressed financial data, unlike in the 2005-2008 period where people filed for bankruptcies and foreclosures without a job loss recession.

Mortgage 483

Mortgage Lending Housing Market Marketing 483

Housing Wire

APRIL 4, 2022

South Carolina-based Movement Mortgage laid off around 170 employees in March, another case of a top-25 mortgage lender paring back its workforce due to a more challenging origination landscape. . compared to the previous year, according to Inside Mortgage Finance. The higher-rate landscape is affecting all mortgage companies.

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Supply Chain Mortgage Retail Loan Officers 472

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 521

Housing Wire

NOVEMBER 10, 2022

From 1998 to 2006, according to Freddie Mac , the median annual mortgage rate was 6.45%. Mortgage rates today are not much higher than they were then. One challenging historical fact is that while mortgage rates fell from 13.24% in 1983 to 7.81% in 1996, it took that long for housing sales to reach the levels they did in 1978 to 1979.

Mortgage 458

Mortgage Housing Market Lending Finance 458

Housing Wire

MARCH 22, 2024

As a result, reverse mortgages may no longer be considered a “loan of last resort” as financial planners aim to highlight their uses as part of a comprehensive financial plan in retirement. Reverse mortgage use as part of a broader financial plan “is really the intention in the financial planning space,” Pfau told the outlet.

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Tools Mortgage Clients Investing 467

Housing Wire

JANUARY 27, 2023

On the other hand, mortgage rates have gone down more than 1% since Oct. The builders’ stock prices have done well as mortgage rates have fallen , and this illustrates the simplicity of the homebuilders’ position: their story is really about mortgage rates and moving products. months and above. But since Oct.

Mortgage 532

Mortgage Construction Buyers Inventory 532

Housing Wire

JUNE 21, 2022

Despite mortgage rates reaching the highest level in 14 years, mortgage applications increased 4.2% from the prior week, according to the latest Mortgage Bankers Association (MBA) survey for the week ending June 17. Rates for mortgage loans were strongly impacted by tightening monetary policy to combat rising inflation.

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Mortgage Contracts 445

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 540

Housing Market Mortgage Marketing Inventory 540

Housing Wire

MARCH 30, 2023

One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages. today and why they’re so different than the period of 2002-2008. There is usually a 1.60%- 1.80% difference between the 10-year yield and 30-year mortgage rate, but now we are at 3%.

Housing Market 485

Housing Market Mortgage Law Marketing 485

Appraisal Buzz

SEPTEMBER 27, 2024

The Federal Housing Finance Agency (FHFA) has announced the release of a new data visualization dashboard , an interactive tool for tracking data on multifamily mortgages that enables users to review details about loans and properties at both the state and national levels. mortgage markets and financial institutions.

Mortgage 397

Mortgage Tools Finance Appraisal 397

Housing Wire

MAY 24, 2024

Movement Mortgage , a multichannel mortgage lender, has appointed Joe Thompson as its new regional director. Founded in 2008 and based in Fort Mill, South Carolina , Movement Mortgage offers a range of products including conventional, jumbo and government-insured loans, as well as a dedicated reverse mortgage division.

Mortgage 360

Mortgage Renovations Loan Officers Retail 360

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 343

Appraisal Buzz

MAY 24, 2024

Mortgage bankers continued to lose on originations in the first quarter, as the average pre-tax net loss per loan was $645, according to the Mortgage Bankers Association’s (MBA) Quarterly Mortgage Bankers Performance Report. That’s a decrease from the reported loss of $2,109 per loan in the fourth quarter of 2023.

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Mortgage Business Appraisal 396

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 434

Mortgage Inventory Buyers Marketing 434

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. CoreLogic recently posted that an estimated 4 million loans are candidates for refinancing if mortgage rates float below 6.75%. “An BLOG VIEW: The Federal Open Market Committee (FOMC) on Sept. An estimated $1.45

Mortgage 393

Mortgage Loan Officers Technology Contracts 393

Housing Wire

FEBRUARY 24, 2024

Mortgage rates have risen recently but they could be much worse than they are today. Mortgage rates and the 10-year yield The 10-year yield is the key for housing in 2024. The most important data line for me, along with mortgage rates , is jobless claims data because I value labor data over inflation. That hasn’t happened.

Mortgage 466

Mortgage Inventory New Listings Housing Market 466

Housing Wire

NOVEMBER 13, 2024

Movement Mortgage has named Steve Smith, a mortgage veteran who most recently served as Movement’s executive advisor, as its new president and chief financial officer. compared to the same period last year, according to Inside Mortgage Finance (IMF). The announcement was made Wednesday.

Mortgage 348

Mortgage Loan Officers Retail Finance 348

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 496

Mortgage Housing Market Inventory Law 496

Housing Wire

NOVEMBER 16, 2022

Top incentive methods include paying points for buyers, which 25% of builders reported using; mortgage rate buy downs , which 27% of builders reported using; and price cuts , which 37% of builders used. To remedy this “housing sector recession,” the NAHB is calling on policymakers to take action. In October the survey had 121 respondents.

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Buyers Mortgage Real Estate Housing Market 543

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.

Mortgage 477

Mortgage Construction Contracts Housing Market 477

Housing Wire

DECEMBER 30, 2023

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. In 2008, this number for that week was 249,655.

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Inventory New Listings Housing Market Mortgage 499

Housing Wire

APRIL 18, 2023

What is the best news for mortgage rates long-term? More supply of apartments coming on line will be good news for mortgage rates going forward. As you can see in the chart below, this looks nothing like the housing peak in 2005 and the crash toward 2008. This is key for mortgage rates looking out for years to come.

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Mortgage Construction Supply Chain Housing Market 501

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

JULY 1, 2024

Federal Housing Finance Agency (FHFA) Director Sandra Thompson recently announced its conditional approval of Freddie Mac pilot to purchase second mortgages. Second mortgage loans are specifically authorized in Freddie Mac ’s charter [Section 305(a)(4) – 12 USC 1454(a)(4)]. That is where the Freddie Mac second mortgage comes in.

Mortgage 373

Mortgage Lending Finance Marketing 373

Housing Wire

NOVEMBER 13, 2024

In a new episode of “The Loan Officer Podcast,” host Dustin Owen chats with John Cornish of Iowa-based Key Mortgage Group about his path into the industry, tips for scaling a mortgage lending business and how to avoid stagnation as a loan originator. Cornish started his career in mortgage banking at Wells Fargo in Iowa in 2003.

Mortgage 308

Mortgage Loan Officers Lending Business 308

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 543

Appraisal Buzz

OCTOBER 4, 2024

The Federal Housing Finance Agency (FHFA) updated the National Mortgage Database (NMDB) Aggregate Statistics series to include fresh quarterly data on the loan performance of residential mortgages until Q2 of 2024. of all mortgages that were outstanding were either in the foreclosure, bankruptcy, or deed-in-lieu stages.

Mortgage 360

Mortgage Tools Lending Finance 360

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 463

Housing Wire

JANUARY 19, 2023

We had some good news this week for the housing market : purchase application data is up , the builder’s confidence index rose to beat estimates, and the 10-year yield and mortgage rates have fallen. This is bullish for America and for mortgage rates to head lower. New home sales missed estimates from 2013 to 2015. percent (±16.9

Mortgage 464

Mortgage Construction Marketing Housing Market 464

Housing Wire

MARCH 31, 2022

We aren’t anywhere close to the housing bubble dynamics we had from 2002 to 2008; that environment is simply impossible to replicate. Over the years, I have tried to express that we won’t have a repeat of 2002-2005 when it comes to a speculative mortgage debt expansion on unsound credit. Home prices have grown 108.3%

Housing Market 522

Housing Market Inventory Lending Marketing 522

Housing Wire

FEBRUARY 14, 2024

The demise of those banks, which had relied in part on friendly terms on jumbo mortgage loans to entice wealthier clients, had lasting effects on the mortgage landscape – as part I and part II of our jumbo series show. 7, the bank was reportedly offering to sell Flagstar’s residential mortgage assets.

Mortgage 404

Mortgage Real Estate Insurance Tenants 404

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 374

Mortgage Investing Brokerage Marketing 374

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 469