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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Housing Wire

DECEMBER 2, 2021

On Tuesday, the Federal Housing Finance Agency revealed the much-anticipated conforming loan limits for 2022, with the baseline number jumping by 18% to $647,200. Homepoint similarly stated that it would accept “conventional loan registrations and rate locks within the 2022 loan limits.”. year-over-year across the nation.

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Housing Wire

NOVEMBER 8, 2022

billion in credit loss builds to account for a decline in home values in the fourth quarter, according to earnings reports from the housing finance giants. “Credit-related expense for the third quarter was primarily driven by lower actual and projected home prices.” Collectively, the GSEs have set aside $4.3

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Housing Wire

FEBRUARY 23, 2024

The gap between Black and white renter families that could afford a mortgage narrowed significantly during the COVID-19 pandemic, according to a Zillow report released Friday. of Black renter families earned enough income in 2022 to afford a mortgage with a 3% down payment, compared to 12.5% About 7.8% percentage points.

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Housing Wire

MARCH 20, 2025

These allowed mortgage borrowers to request an ROV if they believe that the appraisal was inaccurate or biased. A December 2022 study by the Brookings Institution found that homes in majority-Black neighborhoods are nearly twice as likely to be appraised below the contract price compared to homes in predominantly white areas.

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Housing Wire

FEBRUARY 22, 2023

billion in net income recorded in the third quarter of 2022, though it represented a 36% decline from a year prior. billion decreased 4% year-over-year, primarily driven by lower deferred fee income due to slower prepayments as a result of higher mortgage rates. In all, the total mortgage portfolio increased 6% year over year to $3.4

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Appraisal Buzz

JANUARY 22, 2025

While builders response has kept multifamily rent growth steady for several months and stubbornly high mortgage rates are limiting buyer demand and home value increases, detached single-family home rentals are still rising at an accelerating rate. In the meantime, owned home value growth has leveled out at 2.6%

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Appraisal Buzz

JANUARY 8, 2025

But both buyers and sellers should expect unpredictable mortgage rates. Zillows prediction for local house value rise and the speed at which homes are selling are factors in this hotness rating of the 50 most populated metro areas in the country. Thats the good news. 13 position this year.

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Appraisal Buzz

JANUARY 28, 2025

However, the rate of outflow in these states has slowed compared to 2022. The lock-in effect of high mortgage rates also plays a role, as homeowners hesitate to leave lower-interest loans for costlier options. Conversely, California, New York, and Illinois remain at the top of the list for population losses. Net Migration in the U.S.

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Housing Wire

FEBRUARY 4, 2022

This article is part of our HousingWire 2022 forecast series. After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. 2022 Forecast series. What are the drivers of housing demand in 2022? 5 predictions for the 2022 housing market.

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Housing Wire

JANUARY 29, 2024

Despite looking a bit different at the end of 2023, there were a lot of similarities in the full-year Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) issuance tables when compared to recent years. One thing that is much different compared to 2022, however, is total issuance. FAR Longbridge +1 3 PHH Mortgage 16.3%

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Housing Wire

JULY 25, 2024

As the numbers of seniors carrying mortgage debt in retirement has increased, so too has the potential financial burden of a regular monthly mortgage payment. “Retirement researchers warn that mortgage debt in retirement can be a trap,” the article explained.

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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 In 2022, the average tax on a U.S. But home values and taxes have shot up in several neighborhoods.

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Housing Wire

OCTOBER 18, 2024

The Home Equity Conversion Mortgage ( HECM ) and the Home Equity Line of Credit ( HELOC ) remain as the primary options left for older homeowners who want to use their home equity to create more liquidity during retirement. It also allows the homeowner to draw a portion of the home’s value, but only for a defined period.

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Housing Wire

SEPTEMBER 13, 2022

Home-equity lending is on a roll this year, with the combined volume of home-equity lines of credit (HELOCs) and traditional closed-end home equity loans up 47% from January to May of 2022, compared with the same period last year. That deal, dubbed GRADE 2022-SEQ2, was a $198.6

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Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. million in cash.

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Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” One of the top 10 lenders that posted gains, however, was Open Mortgage. This is a different situation.” HMBS issuance in 2023 came out to $6.5

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Housing Wire

JUNE 7, 2024

Home equity continued to rise in the first quarter of 2024 as residential properties with mortgages collectively gained $1.5 homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022. of those with mortgages underwater.”

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Housing Wire

JULY 19, 2022

However, the lenders and loan officers who will be most successful in the second half of 2022 will be those who pivot quickly, understanding both the nuances of the market and the best strategies to help solve problems for today’s homeowners, homebuyers, homesellers, Realtors and financial advisors. Generational nuances.

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Housing Wire

APRIL 8, 2025

A strong wave of refinance activity and renewed buyer interest lifted mortgage rate lock volumes in March, according to Optimal Blues latest Market Advantage report. While total mortgage volume remains down 2% compared to the same time last year, purchase lock activity also saw a 21% monthly increase. of total lock volume.

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Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. The regulator compares home prices year over year and adjusts the limit by the corresponding amount.

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Housing Wire

SEPTEMBER 27, 2023

Years of rising prices and a prolonged period of increasing mortgage rates have made one issue top of mind for most homebuyers: affordability. Take the Zillow Home Value Index. It measures the typical home value for single-family residences, condominiums and co-ops in the 35th to 65th percentile within their region.

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Appraisal Buzz

JANUARY 23, 2025

While the gross profit on median-priced single-family home and condo sales did inch up approximately $2,000 from 2023, the typical profit margin stood eight percentage points below a peak hit in 2022. The downward investment-return trend continued despite the median national home price rising 5% to another annual record of $350,000.

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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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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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Appraisal Buzz

DECEMBER 30, 2024

Good news: Mortgage rates will likely continue going down in 2025! The Federal Reserve (aka the Fed) lowered the federal funds rate in November, and mortgage rates should continue going down in response to that cut. 1 And lets not forget that mortgage rates have already fallen quite a bit. Will Interest Rates Go Down in 2025?

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Appraisal Buzz

JUNE 20, 2024

home, a buyer making the median income needs to put down nearly $127,750, or 35.4%. Just five years ago, when mortgage rates were hovering just above 4% and the typical home was worth nearly 50% less, that home would have been affordable with no money down. home , currently valued at $360,681, up 4.3%

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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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Appraisal Buzz

DECEMBER 11, 2024

Key Findings Million-dollar homes are more common, but theyre not everywhere yet. Across the nations 50 largest metros, 10.57% of owner-occupied homes were valued at $1 million or more in 2023, up from 7.71% in 2022. San Jose and San Francisco have the largest share of million-dollar homes. percentage points (1.32

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Housing Wire

OCTOBER 9, 2023

A mortgage lender isn’t the first place most people would turn to for yoga, meditation or personal wellness. The app offers users the standard fare you’d expect in a mortgage app from a major fintech lender. The app offers users the standard fare you’d expect in a mortgage app from a major fintech lender. As of Oct.

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Loan Officers Mortgage Technology Realtors 448

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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Housing Wire

DECEMBER 8, 2022

Mortgage rates continued the downward trend this week amid signs that the U.S. The recent declines, however, have not been enough to convince borrowers to take out a home loan. At Mortgage News Daily , rates were even lower, at 6.29% on Thursday afternoon. Flat and falling home prices. in 2022, but by a 4.1%

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Mortgage Home Value Construction Investors 397

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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Housing Wire

MARCH 25, 2024

Fueled by a surge in mortgage rates , owning a home has become increasingly expensive. According to a Freddie Ma c housing and mortgage market report released Monday, while mortgage payments remain the primary pressure point for homeowners, insurance costs are emerging as a growing burden. from 2022 and up 40.8%

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Appraisal Buzz

AUGUST 5, 2024

trillion, with three out of five mortgage holders possessing at least $100,000 in equity they can borrow against, according to the August 2024 ICE Mortgage Monitor Report. Despite outstanding mortgage debt hitting an all-time high of $13.8 Despite outstanding mortgage debt hitting an all-time high of $13.8 year-over-year.

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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

JANUARY 25, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After two years of runaway home prices, the Federal Reserve stepped in to reverse engineer rampant inflation, and it has been utilizing the housing market as one of the main economic engines to achieve its objective. in September 2022. They eased below 6.5%

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