Housing Wire

SEPTEMBER 22, 2024

Have we seen the bottom in mortgage rates for 2024 after a crazy roller coaster ride so far this year? My 2024 forecast had a mortgage rate range of 7.25%-5.75%. To get to the lower end of this range, we needed to see two things: the labor market getting softer and the mortgage spreads improving. Yes, here’s how and why.

Mortgage 525

Mortgage Inventory New Listings Contracts 525

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024. Bad for sellers Prospective home sellers may not notice incremental changes in mortgage rates.

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Mortgage Sellers New Listings Buyers 468

Housing Wire

JUNE 10, 2024

Mortgage rate lock-in happens because even small changes in mortgage rates can make a big difference in costs. in April 2024 — with a 10% down payment, a typical mortgage would be approximately $350,000. For every 50 basis point change in mortgage rates, the monthly payment for this house would change by $112.In

Mortgage 468

Mortgage Inventory New Listings Sellers 468

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

NOVEMBER 9, 2022

In the previous expansion, one of my long-term calls was that the MBA purchase application data will never hit the volume level of 300 until the years 2020-2024. Right on cue, 2020 came and we hit the 300 level. The years 2020-2024 were going to be the time when total home sales could finally reach 6.2 We are up 43% since 2020.

New Listings 508

New Listings Inventory Housing Market Sellers 508

Housing Wire

DECEMBER 14, 2024

The holiday season is here, and despite higher mortgage rates last week, housing demand is displaying some festive resilience. Mortgage rates picked up last week, though that hasnt significantly impacted our pending contract data, which is showing some positive year-over-year growth when we compare it to 2022 and 2023.

Mortgage 396

Mortgage Inventory New Listings Contracts 396

Housing Wire

DECEMBER 2, 2021

During the four week period ending November 28, the number of active listings was a 23% decrease compared to the same time period in 2020 and a 42% drop compared to 2019. The number of new listings was also down compared to 2020, dropping 4%, but it was 12% higher than the number of new listing during the same time period in 2019.

Inventory 516

Inventory New Listings Contracts Housing Market 516

Housing Wire

MAY 28, 2024

There are more homes on the market now than anytime since August 2020. This number will probably peak at about 700,000 this summer, crossing over 2020 levels at that point. New listings climbed during the past week and there are now 72,000 more single-family homes on the market. Higher rates create more inventory.

Inventory 534

Inventory New Listings Contracts Sellers 534

Housing Wire

SEPTEMBER 3, 2024

With the calendar shifting to September and the next meeting of Federal Reserve policymakers only two weeks out, mortgage rates continue to recede and evidence suggests that borrowers are reacting to more favorable housing market conditions. Lower rates have recently sparked more activity in the mortgage market. year over year.

Mortgage 501

Mortgage Inventory Buyers Sellers 501

Housing Wire

APRIL 5, 2021

Instead of making up for the shortfall, new listings have slumped further in 2021. Year-over-year, new listing volumes were down 16% in January and 21% in February — amounting to a 125,000 deficit in inventory compared to the same time in 2020. million, the lowest level of paused payments since April 2020.

Inventory 511

Inventory Buyers New Listings Mortgage 511

Housing Wire

APRIL 23, 2023

Since 2020, the seasonal bottom for housing inventory has arrived several months later than normal, making it more complicated to track housing inventory data. We didn’t see too much volatility in mortgage rates last week, but purchase apps declined in reaction to rates rising two weeks ago. However, I will take what I can now.

Inventory 545

Inventory Housing Market Marketing New Listings 545

Housing Wire

MAY 8, 2024

Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. On March 18, 2020, purchase application data broke out to pre-cycle highs in demand. What does that mean? It comes down to housing credit!

Inventory 518

Inventory Law New Listings Sellers 518

Housing Wire

FEBRUARY 20, 2023

Another week down in 2023 and we’re seeing crazier action in the housing market as purchase application data fell, mortgage rates rose again, and weekly inventory took another dive with a noticeable move lower in new listing data. Mortgage rates hit 6.80%, marking the high point for 2023 so far.

Inventory 435

Inventory Housing Market Marketing Mortgage 435

Housing Wire

DECEMBER 23, 2023

However, one thing is sure: from 2020 to 2023 we never saw credit-stressed home sellers. While inventory levels are still too low for my taste, it’s good that we are not at 2022 levels when we only had 240,194 total active single-family listings for Americans to buy. Not too much movement on the 10-year yield or mortgage rates.

Housing Market 538

Housing Market Marketing Inventory New Listings 538

Housing Wire

AUGUST 3, 2022

To say that mortgage rates have been on a wild Mr. Toad’s ride in 2022 is an understatement. People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% People thought the mortgage rate drama in 2013-2014 was a lot when rates went from 3.5% It’s savage man, truly savage with the mortgage rate rise.

Mortgage 514

Mortgage Inventory Sellers Housing Market 514

Housing Wire

MARCH 25, 2024

Mortgage rates seem to have finally settled down. I was worried that we might come out of that meeting with a spike in mortgage rates but that didn’t materialize so we got lucky. Inventory will cross over 2020 levels by July. The longer mortgage rates stay higher, the more inventory will grow closer to the old levels.

New Listings 511

New Listings Inventory Contracts Sellers 511

Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The other focus should be where mortgage rates go; only a little happened last week. After the last few weeks , we can put that fear aside: we are finally getting the seasonal increase in active listing.

Inventory 525

Inventory Housing Market Marketing New Listings 525

Housing Wire

OCTOBER 13, 2024

Weekly housing inventory data Four weeks ago was the best week of inventory growth in 2024, as we hit my model range without higher mortgage rates : I gave it the chef’s kiss. Remember that 2023 had the lowest new listings data ever and 2024 will have the second lowest. National data: Weekly inventory change (Oct.

Inventory 511

Inventory New Listings Retail Mortgage 511

Housing Wire

MAY 21, 2021

Nearly 50% of homes sold for more than their list price during the four weeks ending May 16, but there are signs that housing market demand may be reaching its peak, according to a recent study from Redfin. Mortgage purchase applications also decreased 4% week over week.

Housing Market 540

Housing Market Marketing New Listings Mortgage 540

Housing Wire

MARCH 18, 2024

At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market. However, mortgage rates didn’t stay flat. 1 and as of today, March 18, mortgage rates are 30-40 basis points higher than Jan. This week in 2022 was the last of the 3% mortgages.

Inventory 468

Inventory New Listings Sellers Contracts 468

Housing Wire

FEBRUARY 12, 2024

New listings each week, which were record few last year, are growing now. New listings volume climbing I want to start today with the new listings volume, which is notably finally climbing over last year’s anemic levels. There were 66,000 new listings this week, of which 14,000 are already in contract.

Sellers 468

Sellers Housing Market Buyers New Listings 468

Housing Wire

JUNE 9, 2023

They went all in during COVID-19 in 2020, doubled down in 2021 as the forbearance crash bros but really bet the farm on a massive home-price crash in 2023 after the most significant home sales crash ever in 2022. In 2022, mortgage rates got as high as 7.37%, so the question was: how low do rates have to go for housing demand to get better?

Inventory 546

Inventory Housing Market New Listings Mortgage 546

Housing Wire

OCTOBER 11, 2022

When I came up with the “ savagely unhealthy housing market ” label in February of this year, it was based on the premise that the housing inflation story that we have had to deal with since 2020 was a historical event. It facilitated a very unhealthy housing market in 2020-2021 that became savage in 2022.

Sellers 514

Sellers Inventory Housing Market New Listings 514

Housing Wire

JULY 20, 2024

Last year, with higher mortgage rates , we had zero weeks at this level so I am now giving 2024 inventory growth a grade of A. Yes, home prices are still rising in 2024, but the pace is significantly slower than in 2020 and 2021. However, as mortgage rates began to rise earlier this year, we observed a decline in demand.

Inventory 526

Inventory New Listings Contracts Mortgage 526

Housing Wire

SEPTEMBER 22, 2022

Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . million in August.” We have parts of the U.S.

Inventory 482

Inventory Housing Market New Listings Mortgage 482

Housing Wire

MARCH 12, 2023

Mortgage rates fell even though the jobs report was stronger than anticipated. They reversed their bearish take on bonds, and people started to buy the 10-year yield, causing mortgage rates to fall. As a result, mortgage rates, which climbed as high as 7.05% last week, fell to a low of 6.76% on Friday. million in 2023.

Housing Market 370

Housing Market Mortgage Marketing Inventory 370

Housing Wire

DECEMBER 21, 2022

From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NAR Chief Economist Lawrence Yun. Mortgage rates spiked in March, and then the new listing data started to decline at the end of June.

Inventory 531

Inventory New Listings Housing Market Sellers 531

Housing Wire

MARCH 6, 2023

The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory. My 2023 inventory forecast needs a lot of help, as new listing data isn’t growing at all still.

Inventory 513

Inventory Housing Market Marketing New Listings 513

Housing Wire

JUNE 17, 2021

And 54% of homes sold above their asking price in May — another a record high, up from 26% a year ago, according to a new report from Redfin. The report also shows the housing market also set new records for home-selling speeds and competition, although seasonally adjusted home sales and new listings flattened from April.

Housing Market 535

Housing Market New Listings Sellers Buyers 535

Housing Wire

JUNE 4, 2023

Mortgage rates fell last week after the debt ceiling issues were resolved, but the damage from higher rates took its toll on purchase application data again. Here’s a quick rundown of the last week: Active inventory grew 3,180 weekly , and new listing data fell week to week and is still trending at an all-time low in 2023.

Inventory 468

Inventory Housing Market Marketing New Listings 468

Housing Wire

FEBRUARY 27, 2023

We created the weekly Housing Market Tracker because housing data has been so wild since 2020. The housing market madness persisted last week as inventory fell and higher mortgage rates took a bigger bite out of purchase application data. Purchase application data There is no way around this story; we had a solid streak from Nov.

Housing Market 476

Housing Market Marketing Inventory New Listings 476

Housing Wire

JANUARY 23, 2023

Mortgage rates fell, but the bond market didn’t break what I see as a critical level, so for now, stabilization is more important. Last week’s housing market data provided mixed news. Last week’s housing market data provided mixed news. million active listings if new listing data declines in 2023.

Housing Market 516

Housing Market Marketing Inventory New Listings 516

Housing Wire

NOVEMBER 15, 2024

However, I will give you all the charts to show Uncle Dave that housing credit doesn’t look like it did in 2008 because the qualified mortgage (QM) law makes that impossible. None of that action has been happening for 14 years because the credit market changed after the 2010 qualified mortgage rule.

New Listings 521

New Listings Sellers Mortgage Law 521

Housing Wire

MAY 7, 2023

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. We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell.

Inventory 505

Inventory Housing Market Marketing New Listings 505

Housing Wire

FEBRUARY 6, 2023

Despite mortgage rates briefly falling below the 6% threshold, both housing inventory and mortgage demand fell last week. However, we are going to see if 6% mortgage rates are good enough to create some growth in the future or if the housing market needs rates near 5%. Let’s dive into the trend lines of the housing market.

Inventory 488

Inventory Housing Market Marketing New Listings 488

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. So where does all that drama leave us for 2023?

Housing Market 543

Housing Market Marketing Inventory New Listings 543

Housing Wire

JANUARY 26, 2024

It was the largest monthly jump in pending home sales since 2020. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. But new listings activity grew by 9.1% Pending home sales rose 8.3%

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Contracts Housing Market Construction Inventory 482