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.

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Housing Wire

JUNE 9, 2023

The housing bubble boys are a crew that from 2012 to 2019 screamed housing crash every year. In 2022 it was all about finding a point in time when I thought mortgage rates would fall, which was key to understanding how the purchase application data would react to lower mortgage rates. Even the IMF was begging the U.S.

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Housing Wire

DECEMBER 10, 2021

Mortgage credit availability dropped in November, despite improvements in the labor market, according to a report released Friday by the Mortgage Bankers Association (MBA). The MBA Mortgage Credit Availability Index overall fell by 0.6% The post Mortgage credit availability declines in November appeared first on HousingWire.

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Housing Wire

NOVEMBER 19, 2020

Second, if the next existing home sales report misses expectations, you may be told that this is due to a lack of inventory. Remember, lower inventory tends to go with higher sales — and higher sales means folks are buying homes…therefore…I know you are following me here… there must be homes to buy. . Don’t listen.

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Housing Wire

MAY 18, 2024

Weekly housing inventory data For the third consecutive week, we haven’t quite reached my weekly target of inventory growth between 11,000 and 17,000 homes. However, we came close to our target with inventory growth of 9,726 and there’s a silver lining: mortgage rates have recently fallen.

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Housing Wire

JUNE 8, 2022

For over a decade, a lot of people didn’t believe in housing inflation but in the deflationary housing story, which hasn’t ended well for them since 2012. 2012: What they said: Shadow inventory will cause prices to fall. The reality: Inventory broke down in 2012, and the monthly supply data got below 6.0

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Housing Wire

MARCH 8, 2023

It is no secret that the housing market is suffering from an ongoing inventory drought. Existing housing inventory fell by 11,021 homes week over week for the week ending March 6, according to data from Altos Research. Despite the odds, Realtor.com does see paths for the inventory new housing shortage to be resolved. In 2022, 2.06

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Housing Wire

FEBRUARY 20, 2024

million homeowners added between 2012 and 2022. in 2012 to 65.2% But it fell slightly from 2021 (65.4%) due to higher mortgage rates and inventory constraints. Additionally, 21% of loans originated in 2022 for Hispanic buyers included mortgage rates of 6% or more. and 51.1%, respectively. The overall U.S.

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Housing Wire

JULY 12, 2022

Lenders continued to tighten credit standards in June as higher mortgage rates slowed refinance and purchase activity. The monthly Mortgage Credit Availability Index (MCAI) fell by 0.3% in June, according to the Mortgage Bankers Association. Purchase mortgage rates , measured by the Freddie Mac PMMS Index , were at 5.3%

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Housing Wire

AUGUST 9, 2022

Lending standards tightened in July with the mortgage credit availability index (MCAI) dropping 9%, the largest monthly drop since April 2020, according to the Mortgage Bankers Association (MBA). Mortgage application volume for refis dropped 82.6% The MCAI fell to 108.8 and the Conforming MCAI decreased by 3.3%.

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Housing Wire

JUNE 13, 2023

Mortgage credit availability dropped in May, a consequence of a tougher mortgage landscape that has resulted in lender consolidation as well as high rates and limited inventory that has stretched consumer budgets. The monthly Mortgage Credit Availability Index fell by 3.1%

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Housing Wire

OCTOBER 12, 2020

Mortgage demand, too, is at an 11-year high. Here is another precedent: Back in 2012, our housing bear buddies kept insisting that the housing market had 4 million to 5 million homes in what they called shadow inventory. Shadow inventory refers to homes in foreclosure that banks are holding off the market.

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Inventory Housing Market Marketing Mortgage 545

Appraisal Buzz

MAY 31, 2024

According to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), homebuyer affordability declined in April due to rising interest rates and other costs increasing from a median $2,201 in March to a median $2,256, a $55 increase. The PAPI was benchmarked to 100 based on data from March 2012.

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Housing Wire

JUNE 9, 2022

Mortgage credit availability dipped for three consecutive months, largely due to shrinking refinance loans, according to the monthly Mortgage Credit Availability Index , (MCAI) which fell by 0.9% to 120 in May, the lowest level since July 2021, according to the Mortgage Bankers Association.

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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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Housing Wire

APRIL 7, 2022

Mortgage credit availability dropped in March, a sign that lenders tightened credit standards amid insufficient inventory of homes for sale and rising mortgage rates. The monthly Mortgage Credit Availability Index fell by 0.7% last month, according to the Mortgage Bankers Association. Presented by: CreditXpert.

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Housing Wire

APRIL 23, 2021

Homes sold in March were on the market for 21 days, per the report, the shortest period between listing and sale since 2012. But the NAR reported this week that home sales in March fell for the second month in a row as inventory plunged and home prices climbed to record levels. Home prices in the U.S.

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Housing Wire

NOVEMBER 18, 2020

The homeownership rate in Texas rose to an all-time high of 70% in the third quarter, exceeding the national metric for the first time since 2012, according to a report from the Texas A&M Real Estate Center. The report said that thanks to record low mortgage rates , new home transactions increased over 8%. According to the U.S.

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Housing Wire

MAY 19, 2022

However, this year has seen one big game-changer: the 10-year yield finally cracked over 1.94%, which drove mortgage rates over 4%. This is something that I said would change the tone of housing, and we are seeing that result this year as sales decline and inventory picks up. Inventory is always seasonal. million and 1.93

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Housing Wire

MARCH 18, 2022

Inventory has broken to all-time lows, but it doesn’t look like the year-over-year data will be positive at all this year unless demand softens up. You can see why I have been on team higher mortgage rates for some time now because we don’t have any other way to get off this madness. NAR Research : Unsold inventory sits at a 1.7-month

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Housing Wire

NOVEMBER 9, 2022

Inventory levels broke to all-time lows and thus created massive housing inflation quickly, which broke my model. In the summer of 2020, I talked about how the housing market would change, but it needed the 10-year yield to break over 1.94%, which roughly means 4% plus mortgage rates. nominal per year at most.

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Housing Wire

OCTOBER 21, 2020

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. The chart below shows interest rates for the 30-year fixed-rate mortgage will end this year at about 3% and could hit around 3.3%

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Housing Wire

JUNE 28, 2022

growth for its top 20 city composite, and now you know why my most significant concern for housing was home prices overheating , not crashing like people have warned about from 2012-2021. Imagine if mortgage rates didn’t rise this year. The only thing that can cool this down is higher mortgage rates, which has started already.

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Housing Wire

DECEMBER 21, 2022

In addition, this is the fourth straight month of inventory declining, while days on the market are growingl! “The principal factor was the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. Plus, available housing inventory remains near historic lows.”

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Housing Wire

JULY 13, 2022

Looking at the housing market in the years 2020-2024, one risk i identified early on was that home prices could accelerate more in this period than we saw in the previous expansion if inventory channels broke to all-time lows. Back then, we had higher sales, higher inventory, and less price growth, but we had a massive credit bubble.

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Inventory Housing Market Mortgage Construction 540

Housing Wire

NOVEMBER 15, 2021

The Department of Housing and Urban Development is taking a cautionary approach to changes to mortgage insurance premiums after a banner year for its Mutual Mortgage Insurance (MMI) fund. Marcia Fudge said there were no near-term plans to change FHA’s mortgage insurance premium pricing.). Earlier this year, HUD Sec.

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Housing Wire

APRIL 3, 2023

Declining mortgage rates could have improved affordability for buyers in the housing market in February, but instead spurred a demand that, combined with a persistent lack of inventory across the U.S., “In many areas of the country, that dynamic – low inventory and a modest rise in demand – led to an uptick in home prices.”

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Housing Wire

JUNE 29, 2024

Housing inventory is growing, but national home prices aren’t dropping dramatically, as the recent S&P CoreLogic Case Shiller index clearly showed. The last time we had a stressed seller market was when national home prices crashed in 2008-2011 and even with more inventory , we’re nowhere close to those levels.

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Housing Wire

JANUARY 5, 2023

The 2022 housing market was savagely unhealthy , with all-time lows in inventory leading to massive bidding wars and price spikes until the Fed put a screeching halt to all of it with rate hikes that resulted in the most significant one-year spike in mortgage rate history. Mortgage rates. Home price s.

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Housing Wire

MAY 18, 2023

If we had a massive credit boom-to-bust, inventory would have skyrocketed in 2022. Instead, active listings are near all-time lows, which wasn’t the case from 2012-2019. NAR Total Inventory Data going back to 1982. housing market inventory channels have changed due to how the U.S. million, up from 1.03 million last year.

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Housing Wire

JUNE 22, 2021

For the NAR, this is a record high and marks 111 straight months of year-over-year gains since March 2012. “Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market,” said Lawrence Yun, NAR’s chief economist.

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Inventory Buyers Realtors Housing Market 448

Housing Wire

AUGUST 30, 2022

While the growth rate is cooling monthly, we are still in a savagely unhhealthy housing market trying to get national inventory levels back to pre-COVID-19 levels. Housing inventory issue with no booming demand. Housing inventory issue with no booming demand. crash, especially from 2012-2019. million listings.

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Housing Wire

APRIL 8, 2022

Home prices are skyrocketing, housing inventory is at all-time lows and homebuyers have to contend with multiple bids. One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy.

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Housing Wire

MARCH 31, 2022

crew, this would mean home prices would have to get back to 2012 in a short amount of time. since the 2012 lows and that is the magnitude of decline we would need to see to justify using the term “housing bubble.” Especially in a year when inventory has crashed to all-time lows and demand for those houses is still so high.

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Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. million housing units due to a severe lack of supply produced between 2012 and 2019. million and 7.3

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Housing Wire

JANUARY 16, 2024

Redfin attributes these divides to a variety of factors , the most salient of which is that over half (54%) of baby boomers who own homes have no mortgage and those who do have a mortgage have a much lower interest rate than the rate they would end up with if they sold and bought today.

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Housing Wire

MARCH 22, 2023

Mortgage rates, which climbed upward one day and went down the next in the wake of the recent wave of bank failures, will continue to be volatile before it stabilizes, industry watchers said. “The As that uncertainty drains away, mortgage rates will have smaller day-to-day swings.” What does it mean for buyers, sellers?

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