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 2021, the FHFA set the baseline conforming loan limit at $548,250 , a 7.5% increase from the prior year.

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Housing Wire

JANUARY 25, 2021

Much like the changing of the calendar, buying and selling homes follows a seasonality that that those in mortgage and real estate have grown accustomed to. But a recent study from tech startup Haus found that mortgage rates can also be seasonal, and borrowers can benefit from understanding that rhythm. through December 2021.

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Mortgage Home Value Real Estate Finance 529

Housing Wire

SEPTEMBER 9, 2021

The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior , mortgage rates also held steady at 2.87%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.86%.

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Mortgage Valuation Home Value Inventory 493

Housing Wire

JANUARY 10, 2024

HomeEquity Bank , Canada’s leading reverse mortgage lender and a federally regulated bank, recently announced the hiring of former Canadian Broadcasting Corporation (CBC) news anchor Peter Mansbridge to serve as its strategic communications consultant. Most Canadians prefer to age in their homes.

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Mortgage Advertising Marketing Home Value 448

Housing Wire

FEBRUARY 9, 2021

Borrowers with mortgages backed by Fannie Mae and Freddie Mac may be eligible for an additional forbearance extension of up to three months, the Federal Housing Finance Agency announced Tuesday. FHFA’s Director Mark Calabria said the company’s recent actions are to “help keep families in their home during the pandemic.”

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Housing Wire

MARCH 15, 2024

Homeowners 62 and older saw their collective home equity levels drop in the fourth quarter of 2023 by roughly $119 billion to $12.84 This is according to the Reverse Mortgage Market Index (RMMI), a measure of senior-held home equity from the National Reverse Mortgage Lenders Association (NRMLA) and data analytics firm RiskSpan.

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Home Value Finance Mortgage Marketing 459

Housing Wire

OCTOBER 3, 2022

Home prices are now posting the biggest monthly declines since January 2009, according to the latest Mortgage Monitor report from Black Knight. Median home prices in August fell 0.98% in August, only slightly better than July’s 1.05% monthly decline. With mortgage rates at 6.7% With mortgage rates at 6.7%

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Housing Wire

FEBRUARY 10, 2021

In a letter to shareholders, Zillow CEO and co-founder Rich Barton and CFO Allen Parker said the company also expects a strong first quarter of 2021. Looking ahead, our Zillow economists have made bold predictions for an even stronger housing market in 2021 than what we experienced in 2020,” the letter states. million – up 25.8%

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Housing Wire

AUGUST 8, 2022

Mortgage rates trended down in July from their peak above 6% in June, but that wasn’t enough to spur mortgage lending activity. The purchase lock count, which excludes the soaring home values on volume, is down 25.8% from the previous month and dropped 22% from July 2021. Rate lock volume in July fell 14.4%

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Housing Wire

MARCH 11, 2021

Finance of America Reverse will soon debut a hybrid product that combines elements of a reverse mortgage with a forward mortgage. The lender says it’s an innovative approach to servicing borrowers who are in retirement age but don’t qualify or wish to refinance into a long-term mortgage. Presented by: MCT.

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Housing Wire

JULY 19, 2022

We interviewed more than 25 mortgage industry experts to gather the best insights, strategies, and recommendations to pivot and win in today’s market. In the 2021 NextGen homebuyer research, two in three stated they did not think lenders were trustworthy or reliable. Generational nuances. Their research shows the U.S.

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Mortgage Loan Officers Technology Real Estate 448

Housing Wire

JANUARY 31, 2021

In the days of COVID-19 and the CARES Act, mortgage servicers are staying busy working with borrowers as they make decisions regarding the future of their homes. Due to the continuing economic challenges stemming from the COVID-19 pandemic, many anticipate an increase in portfolio risk and defaults in 2021.

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Mortgage Valuation Clients Home Value 435

Housing Wire

OCTOBER 4, 2024

Homeowners 62 and older saw their collective home equity levels rise in the second quarter of 2024 by roughly $600 billion, increasing to a total of $14 trillion and continuing a streak of forward momentum observed in the first quarter. billion) increase in senior home values, which was offset by a 0.89% (or $20.9

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Home Value Mortgage Marketing Finance 468

Housing Wire

NOVEMBER 7, 2023

And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. But opinions differ on how much impact higher taxes are having on local housing and mortgage markets. “I single-family home was $3,901, up 3% compared to 2021, ATTOM reported.

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Property Taxes Home Value Government Valuation 541

Housing Wire

SEPTEMBER 15, 2021

The reverse mortgage volume boom appears to have diminished for now, at least if new data is any indication. Home Equity Conversion Mortgage (HECM) endorsements fell in August, 2021 by 14.3% A sharp drop in reverse mortgage volume. The leaders in volume gains were Mutual of Omaha Mortgage (rising 45.6%

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Mortgage Advertising Development Home Value 397

Housing Wire

SEPTEMBER 8, 2021

Homeowners withdrew $63 billion in equity in the second quarter of 2021, according to the latest numbers from Black Knight , the most in a single quarter in nearly 15 years. The driver is, of course, spiking home prices in most places. During the last downturn, in contrast, 28% of mortgage holders were fully underwater.

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Home Value Mortgage Government Lending 468

Housing Wire

JULY 10, 2022

Just how bad was the mortgage market in June , when rates climbed north of 6%? The company’s monthly mortgage originations report also revealed that 82% of locks in June were purchases, the lowest share of refis since the company began tracking data in 2018. Purchase rate lock volume is down nearly 16% from June 2021.

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Appraisal Buzz

APRIL 20, 2022

Quickly rising mortgage rates are compounding affordability challenges that have been brought on by record home value growth. The cost of a 30-year mortgage on the typical U.S. home is now 19.5% The post Mortgage Costs Rise 20% Since December 2021, Zillow Report Finds appeared first on Appraisal Buzz.

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Mortgage Home Value Real Estate Buyers 195

Housing Wire

MAY 9, 2022

Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates , reflecting home affordability concerns, reports from Mortgage Capital Trading and Black Knight showed. . Compared with the same period last year, the number of rate locks by mortgage volume was down 25.4%. .

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Mortgage Home Value Buyers Lending 370

Housing Wire

JUNE 28, 2024

Homeowners 62 and older saw their collective home equity levels rise in the first quarter of 2024 by roughly $328.5 This is according to the Reverse Mortgage Market Index (RMMI), a measure of senior-held home equity maintained by the National Reverse Mortgage Lenders Association (NRMLA) and data analytics firm RiskSpan.

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Transportation Home Value Mortgage Marketing 397

Housing Wire

MARCH 9, 2021

As the first quarter of 2021 nears its end, a recent Redfin report shows both good and bad news for Black homeowners. The positive: Homeowners in primarily Black neighborhoods earned an average of $59,000 in home equity in 2020, compared with $50,000 for homeowners in primarily white neighborhoods between 2019 through January 2021.

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Home Value Market Value Brokerage Inventory 497

Housing Wire

NOVEMBER 7, 2024

Not long ago, homeowners insurance was a minor concern for most homebuyers, real estate agents and mortgage originators. In California, where more than 7,000 wildfires occurred last year, the typical homeowner in many ZIP codes paid premiums as low as 0.05% of home value, according to the Times.

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Insurance Supply Chain Real Estate Design 482

Housing Wire

APRIL 20, 2021

In analyzing more than 7 million homes sold between 2013 and the beginning of 2021, Redfin found homes in Black neighborhoods are undervalued by an average of $46,000 compared to homes in primarily white neighborhoods, the company said. Only 44% of Black Americans own the home they live in, versus 74.5%

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Home Value Investing Lending Real Estate 493

Housing Wire

DECEMBER 2, 2021

Back in October, a handful of nonbanks — PennyMac , Homepoint , United Wholesale Mortgage , and Rocket Mortgage — announced that they would all be upping their conforming loan limit to $625,000 for a one-unit property. The figure, which is determined by a formula set by Congress, didn’t catch many nonbanks too off-guard.

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Home Value Finance Mortgage 448

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. increase over the current $766,550 cap for 2024, aligning with home price trends. increase 2021: $548,250 — 7.4%

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Finance Home Value Mortgage Government 435

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

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Lending Home Value Mortgage Renovations 459

Housing Wire

MAY 9, 2022

The American Land Title Association saw a nearly 36% year-over-year increase in title insurance premium volume in 2021 for a staggering $7 billion spike, according to the trade group’s Market Share Analysis , published Friday. The majority of title professionals were busier in 2021 than they ever have been.”. Presented by: ServiceLink.

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Insurance Home Value Inventory Real Estate 370

Housing Wire

JANUARY 24, 2023

Under its Sell & Stay program, which charges an annual option fee, clients have the right to repurchase the home or to direct a third-party sale at any time. If the home value appreciates, customers get to keep the difference. billion in volume in 2022, a decline of more than 50% from its 2021 production of $30.5

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Tenants Loan Officers Finance Clients 397

Housing Wire

NOVEMBER 19, 2024

Older homeowners, who have been paying their mortgages for longer, are part of a select group that owns their homes outright. billion) increase in senior home values during the second quarter, which was offset by a 0.89% (or $20.9 billion) increase in senior-held mortgage debt. homeowners.

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Home Value Mortgage Sellers Finance 418

Housing Wire

SEPTEMBER 7, 2022

The wholesale arm of Rocket Mortgage on Tuesday raised anticipated agency conforming loan limits to $715,000, a sign that the nation’s largest mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 10% in 2023. 6, the lender said Tuesday. “We’re

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Home Value Mortgage Government Lending 488

Housing Wire

MARCH 14, 2022

Mortgage origination activity took a major hit in February, with rate hikes squeezing out refinance activity , both for rate-term refis and cash-outs. from January, according to the latest monthly Mortgage Monitor report from Black Knight. Overall origination activity in February was down 5.4% from the same time last year.

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Home Value Lending Mortgage Marketing 435

Housing Wire

OCTOBER 11, 2022

As mortgage rates rose more than 90 basis points to finish September at 6.72%, overall rate lock volumes predictably fell sharply – down 10% from August and almost 60% off levels from 2021. from September 2021. Falling rate lock dollar volume was driven by a 26.2% Falling rate lock dollar volume was driven by a 26.2%

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Lending Home Value Mortgage Government 397

Appraisal Buzz

OCTOBER 29, 2024

Many young Americans purchased their first homes during the pandemic or in the years preceding it, and they later profited from a historic increase in home values brought on by the homebuying boom of 2021–2022.

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Tenants Home Value Mortgage Appraisal 397

Housing Wire

MARCH 9, 2022

Despite this decrease, some markets such as Los Angeles and New York, still saw housing wealth rise due to increasing home prices. ” Nationwide, the median single-family existing-home sales price rose at an annual pace of 8.3% ” Nationwide, the median single-family existing-home sales price rose at an annual pace of 8.3%

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Home Value Realtors Marketing Inventory 468

Housing Wire

JULY 15, 2024

Department of Housing and Urban Development (HUD) announced on Monday that it has charged lender Rocket Mortgage , two appraisal companies and one appraiser with allegedly issuing a biased valuation and denying a refinance loan to a Black homeowner in Denver.

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Appraisal Valuation Law Home Value 428

Housing Wire

NOVEMBER 18, 2022

Existing home sales last month declined 5.9% That’s the largest year over year existing home sales decrease since 2007. More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement.

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Housing Market Marketing Inventory New Listings 448

Housing Wire

DECEMBER 27, 2022

The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. million in mortgages valued at $1.7 FHA Commissioner Julia Gordon.

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Insurance Home Value Mortgage Marketing 497