Housing Wire

SEPTEMBER 28, 2024

Housing demand is very seasonal, so the fact that our pending contract data is firming up lately just shows that lower mortgage rates have stabilized and firmed up demand recently. It will likely take mortgage rates to go under 6% and stay there for an extended period to get real sustained demand growth from record-low sales levels.

Mortgage 525

Mortgage Inventory New Listings Contracts 525

Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” But the housing market in the second half of 2022? A mortgage rate lockdown freezes the housing market. over asking price.

Housing Market 529

Housing Market Marketing Real Estate Agent Real Estate 529

Housing Wire

JUNE 22, 2024

Are we seeing the start of a market shift in mortgage demand? Notably, mortgage rates have been gradually declining, and we’ve observed back-to-back positive weeks in purchase application data for the first time since mid-March. For now, we just had back-to-back weeks of positive growth, with mortgage rates still around 7%.

Mortgage 481

Mortgage Inventory New Listings Contracts 481

Housing Wire

JUNE 15, 2024

Since May 29, we’ve witnessed a decline in the 10-year yield, which has been favorable for mortgage rates. 10-year yield and mortgage rates After the intense jobs week data , we ran straight into CPI and PPI inflation week, with a Fed meeting thrown in! Once mortgage rates began rising in 2024, some demand was removed.

Mortgage 508

Mortgage Inventory Marketing New Listings 508

Housing Wire

JULY 6, 2024

In March of 2022, we only had 240,000 active single-family homes available for sale, leading me to call the housing market savagely unhealthy as we simply had too many people chasing too few homes. Now that we are halfway through the year, we can see that active inventory in America is growing, unlike what happened in 2023.

Housing Market 476

Housing Market Mortgage Inventory Marketing 476

Housing Wire

SEPTEMBER 1, 2024

The best part about 2024 has been that higher mortgage rates have created an inventory buffer, so if the economy gets softer and rates fall, we have many more homes to work with than we had in 2020-2023. However, as mortgage rates have fallen recently , I haven’t been able to hit my targets, which isn’t a surprise.

Inventory 538

Inventory Mortgage New Listings Housing Market 538

Housing Wire

JANUARY 27, 2023

Pending home sales ended 2022 on a positive note. Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.” “This recent low point in home sales activity is likely over,” Lawrence Yun, NAR’s chief economist, said in a statement. compared to December 2021.

Contracts 448

Contracts Realtors Mortgage Buyers 448

Housing Wire

NOVEMBER 16, 2022

Mortgage demand rose as rates dropped following the October slowdown in inflation growth numbers. However, while purchase mortgage applications increased across all loan types, refinance activity remained depressed. The market composite index, a measure of mortgage loan application volume, increased 2.7%

Mortgage 545

Mortgage Retail Contracts Marketing 545

Housing Wire

AUGUST 4, 2024

Mortgage rates moved massively lower last week without any Federal Reserve rate cuts, primarily because the labor market is getting softer. Can mortgage rates go even lower? We don’t have that variable this year and spreads have improved earlier than I thought, which has helped mortgage pricing.

Mortgage 518

Mortgage Inventory New Listings Housing Market 518

Housing Wire

SEPTEMBER 7, 2024

Mortgage rates have made almost a 2% move lower from the highs of 2023. Now that the jobs week data is in, the question is: can mortgage rates go even lower? Mortgage spreads Another way for mortgage rates to drop to the lowest level of the forecast or below is to improve mortgage spreads.

Mortgage 533

Mortgage Inventory New Listings Marketing 533

Housing Wire

JUNE 8, 2024

Given last week’s surprising jobs report, how much longer will we have to deal with higher mortgage rates ? It’s essential to track the labor data along with inflation because the key to getting lower mortgage rates for longer lies with the labor data more than inflation.

Mortgage 508

Mortgage Inventory New Listings Contracts 508

Housing Wire

JULY 15, 2024

Good inflation data came in last week, the bond market rallied and mortgage rates took a notable dip below 7% for the first time in months. Maybe we’re finally past the peak of mortgage rates ? Contrast this week to 2022, when inventory rose by 3% during the holiday week. These pending contracts are the proxy for what’s selling.

Housing Market 497

Housing Market New Listings Marketing Mortgage 497

Housing Wire

SEPTEMBER 15, 2024

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. Purchase application data First, purchase apps is the fastest way to look for positive or negative data at higher or lower mortgage rates. That’s ok — very few people are looking at the data without an agenda.

Mortgage 521

Mortgage Inventory New Listings Retail 521

Housing Wire

APRIL 15, 2024

We saw a big jump in mortgage rates last week. The 30-year fixed rate mortgage, according to the HousingWire Mortgage Rates Center , is now over 7.2% — that’s 50 basis points above where we were at the start of the year. At that time, most of the voices in the media assumed that mortgage rates had peaked and would fall by now.

Inventory 459

Inventory Mortgage New Listings Sellers 459

Housing Wire

AUGUST 6, 2024

Mortgage rates are dropping fast. Mortgage rates are now the lowest they’ve been in over a year. Last year at this time, mortgage rates were rising, eventually peaking at 8% in October 2023. Are we past the opportunity for declining mortgage rates to help demand and pick up home sales in 2024? This makes sense, of course.

Mortgage 482

Mortgage Inventory New Listings Contracts 482

Housing Wire

AUGUST 17, 2024

Have lower mortgage rates already started to slow down housing inventory? Now, with mortgage rates dropping below that 7.25% level recently, inventory hasn’t been able to hit that growth model once. As mortgage rates rose earlier this year, leading to increased inventory, the price cut percentage grew higher than the last two years.

Inventory 518

Inventory Mortgage New Listings Contracts 518

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

OCTOBER 5, 2024

18 and mortgage rates and bond yields headed higher. But, we have to remember that mortgage rates had already made an almost 2% move lower since the highs of 2023 without rate cuts, as the bond market always gets ahead of the Fed. This explains the rise in mortgage rates since the Fed cut rates.

Mortgage 511

Mortgage Inventory New Listings Retail 511

Housing Wire

DECEMBER 14, 2024

The holiday season is here, and despite higher mortgage rates last week, housing demand is displaying some festive resilience. Additionally, our pending contracts are still reflecting double-digit year-over-year growth. As with most housing data, were currently in a seasonal volume decline, which is pretty standard this time of year.

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Mortgage Inventory New Listings Contracts 396

Housing Wire

JUNE 6, 2024

Bond credit-rating organization Moody’s Investors Service has reaffirmed its “above-average” rating for the reverse mortgage servicing performance of Celink , which is the current holder of the U.S. In 2023, Celink renewed subservicing deals with major reverse mortgage lenders including Finance of America and Mutual of Omaha Mortgage.

Mortgage 448

Mortgage Contracts Investors Investing 448

Housing Wire

OCTOBER 7, 2024

After the recent lows with mortgage rates this week, the 30-year fixed rate jumped back up over 6.5%. Mortgage rates bounced back up over the last couple days, and it demonstrates how fragile this housing market recovery could be. Conversely, if mortgage rates don’t stay low, we’ve seen homebuyers very willing to wait.

Housing Market 476

Housing Market Marketing Mortgage Contracts 476

Housing Wire

MAY 20, 2024

Mortgage capital markets tech firm Polly announced on Monday its API integration with cloud banking provider nCino to enhance the digital mortgage process for lenders. In August 2022, Polly announced an extension of its API portfolio to better accommodate lenders amid a contracting mortgage environment.

Mortgage 447

Mortgage Real Estate Agent Loan Officers Technology 447

Housing Wire

MAY 25, 2022

Despite a decline in mortgage rates last week, mortgage application volume was down 1.2% The decline, as measured by the Mortgage Bankers Association ’s (MBA’s) Market Composite Index, continued to be led by a drop in the refinance share of mortgage activity, which has been consistent for more than two months. .

Mortgage 459

Mortgage Contracts Retail Inventory 459

Housing Wire

OCTOBER 22, 2024

Mortgage rates continue to rise, serving as a bucket of cold water for lenders and consumers that were warming to lower borrowing costs just a few months ago. According to HousingWire ‘s Mortgage Rates Center , the average 30-year conforming rate was 6.61% on Tuesday. With mortgage rates back above 6.5%

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Sellers Mortgage Marketing Construction 468

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 505

Mortgage Inventory New Listings Housing Market 505

Housing Wire

JANUARY 25, 2023

As mortgage rates continue to decline, Chad Earnest’s mantra with his referral partners in 2023 is “no buyer left behind.” The Montgomery, Texas-based area manager, who moved from AmeriSave Mortgage Corporation to Cardinal Financial Company in November, launched in mid-2022 a platform to help their referral partners succeed.

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Buyers Mortgage Real Estate Agent Contracts 497

Housing Wire

DECEMBER 7, 2024

Last week, we witnessed a Santa Claus rally in mortgage rates alongside improved housing demand. We also see growth in our pending contract data compared to 2022 and 2023. Weekly pending sales The weekly pending contract data from Altos Research offers an insightful look into real-time housing demand.

New Listings 505

New Listings Inventory Contracts Housing Market 505

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 493

Mortgage Construction Contracts Housing Market 493

Housing Wire

JANUARY 12, 2024

Mortgage businesses at Wells Fargo , JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). billion for the year from $44 billion in 2022.

Mortgage 475

Mortgage Lending Retail Business 475

Housing Wire

MARCH 19, 2024

Florida-based brokerage Atlantic Trust Mortgage has asked a Michigan federal court to dismiss a lawsuit filed by United Wholesale Mortgage (UWM) that alleges a violation of an amended agreement. Atlantic Trust entered into a wholesale broker agreement with UWM in 2018. district court in Michigan. district court in Michigan.

Mortgage 443

Mortgage Law Brokerage Legal 443

Housing Wire

JULY 17, 2024

Mortgage applications increased 3.9% on a seasonally adjusted basis during the week ending July 12, due mainly to borrowers taking advantage of a decline in rates to refinance their home loans, according to data released Wednesday by the Mortgage Bankers Association (MBA). As a result, mortgage rates are trending down.

Business 468

Business Mortgage Retail Contracts 468

Housing Wire

JUNE 1, 2022

Mortgage apps dropped 2.3% for the week ending May 27, decreasing to the lowest level since December 2018, as measured by the Mortgage Bankers Association ’s (MBA) Market Composite Index. Refinance share of the mortgage activity declined to 31.5% The post MBA: Mortgage apps decline 2.3% of total applications from 32.3%

Mortgage 459

Mortgage Contracts Retail Marketing 459

Housing Wire

JANUARY 29, 2024

Three years into its controversial ultimatum , United Wholesale Mortgage (UWM) continues to engage in legal battles with its broker partners selling loans to rivals Rocket Mortgage and Fairway Independent Mortgage Corp. Therefore, we will follow the agreed upon contract and win damages.”

Contracts 468

Contracts Loan Officers Lending Retail 468

Housing Wire

DECEMBER 11, 2024

Mortgage rates and purchase application data One of the things I do weekly is track how forward-looking housing demand reacts to specific mortgage rates. Heres an example of how purchase apps have acted with particular mortgage rate ranges. Since the lows of 2022, we have seen an increase in active inventory.

Contracts 441

Contracts Housing Market Inventory Mortgage 441

Housing Wire

APRIL 30, 2024

Mortgage rates inched higher last week ahead of the Federal Reserve ’s Federal Open Markets Committee on Wednesday and the national jobs report on Friday. Unsold inventory was nearly 32% higher than at this time last year and 90% higher compared to the end of April 2022. “The

Mortgage 448

Mortgage New Listings Inventory Sellers 448

Housing Wire

OCTOBER 9, 2024

After reaching their highest level since July 2022 , mortgage applications have declined for two straight weeks, counteracting some recent positive signs for a still-sputtering housing industry. According to weekly data released Wednesday by the Mortgage Bankers Association (MBA), applications shrank 5.1% of new applications.

Mortgage 458

Mortgage Government Retail Contracts 458

Housing Wire

APRIL 13, 2024

Mortgage rates headed higher last week after the CPI inflation report , but now, with news of a wider war in the Middle East, should we expect even higher rates? 10-year yield and mortgage rates There is nothing good to report on mortgage rates from last week. The week ahead will answer some of those questions early on.

Inventory 505

Inventory Mortgage New Listings Retail 505