Housing Wire

MARCH 7, 2024

year over year in fourth-quarter 2023. billion at the end of 2023. Rising home prices continue to fuel growing home equity, which, at $298,000 per average borrower, remained near historic highs at the end of 2023,” Selma Hepp, chief economist at CoreLogic, said in a statement. from December 2023 to December 2024.

Mortgage 494

Mortgage Real Estate 494

Housing Wire

JANUARY 18, 2024

Overall, an estimated 1.413 million units were started in 2023, a drop of 9.0% Looking ahead, homebuyers who may be looking to purchase a new construction home may continue to struggle with lack of inventory in 2024, as the overall estimated number of building permits issued in 2023 was down 11.7% compared to 2022. monthly and 6.1%

Construction 479

Construction Real Estate Housing Market Buyers 479

Housing Wire

MARCH 12, 2024

in 2023, with a net gain of 377,000 Hispanic owner households from the previous year. million Hispanic households own their home, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2023 State of Hispanic Homeownership Report released on Tuesday. In total, more than 9.5 of overall U.S. About 29.5%

Real Estate Agent 482

Real Estate Agent Real Estate Buyers Realty 482

Housing Wire

FEBRUARY 28, 2024

United Wholesale Mortgage (UWM) ended 2023 as the top U.S. million in 2023, compared to a profit of $719.4 The GAAP net loss in 2023 was $69.7 billion in mortgages in 2023, lower than the $127.3 billion in Q3 2023 and $25.1 billion in Q3 2023 and $25.1 billion in 2023, including $20.6

Mortgage 447

Mortgage Inventory Marketing Lending 447

Housing Wire

DECEMBER 23, 2023

Even with all the drama we have dealt with in 2022-2023, the housing market stayed intact and never broke. However, one thing is sure: from 2020 to 2023 we never saw credit-stressed home sellers. We never saw the Airbnb crash that dominated some of the housing headlines in 2023. Weekly inventory change : (Dec.15-22)

Housing Market 537

Housing Market Marketing Inventory New Listings 537

Housing Wire

JANUARY 25, 2024

This strong finish to 2023 is 8% above the revised November rate of 615,000 and 4.4% The median sale price of a new home in December 2023 was $413,000, and 47% of homes sold were priced below $400,000. Overall, homebuilders charged less for houses in 2023 than in 2022 and sold more houses. more than 2022’s figure of 641,000.

Inventory 467

Inventory Development Buyers Mortgage 467

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. In fact, in the final days of 2023, J.P. Market indicators so far appear tentatively promising.

Lending 485

Lending Inventory Mortgage Finance 485

Housing Wire

FEBRUARY 22, 2024

Rocket Companies , the parent of Rocket Mortgage , was in the red again in 2023 as it reported a GAAP net loss of $390 million. The Detroit-headquartered lender reported a GAAP net loss of $233 million in Q4 2023, following a GAAP net gain of $115 million in Q3. Rocket originated $17 billion in mortgages in Q4 2023, down from $22.2

Mortgage 459

Mortgage Clients Lending Business 459

Appraisal Buzz

NOVEMBER 15, 2024

Mortgage credit availability increased to its highest level since April 2023, driven by gains across all loan categories,” says Joel Kan, vice president and deputy chief economist for the MBA, in a statement. Photo: Dillon Kydd The post Mortgage Credit Availability Increased to Highest Level Since April 2023 appeared first on MortgageOrb.

Mortgage 195

Mortgage Government Lending Technology 195

Housing Wire

JANUARY 5, 2023

February/March 2023. April/May 2023. June/July 2023. August/September 2023. October/November 2023. December 2023 / January 2024. The issue concludes with a wrap up of the latest news across the industry, in mortgage, real estate, fintech, politics and more.

Real Estate 395

Real Estate Mortgage 395

Housing Wire

MARCH 26, 2024

Fannie Mae and Freddie Mac completed 43,903 foreclosure prevention actions in the fourth quarter of 2023, according to a new report published by the Federal Housing Finance Agency ( FHFA ). Over the course of 2023, the government-sponsored enterprises (GSEs) completed 192,897 foreclosure prevention actions. The rate for U.S.

Government 478

Government Inventory Mortgage Real Estate 478

Housing Wire

JANUARY 22, 2024

After a year of challenge in the reverse mortgage industry, the major lenders in the industry look a bit different for calendar year 2023 when compared with recent years past. Reduced volume, a challenging mortgage rate environment and industry consolidation has contributed to some of the broader changes.

Mortgage 455

Mortgage Finance Business Marketing 455

Housing Wire

APRIL 10, 2024

billion in 2023, according to the latest Federal Bureau of Investigation Internet Crime Report , published earlier this week. In 2023, the FBI noted that it fielded 880,418 cybercrime complaints, a 10% uptick from the year prior. Cybercrime losses rose to a record high of $12.8

Real Estate 448

Real Estate Tools Investing Business 448

Housing Wire

JULY 12, 2024

The latest 2023 Home Mortgage Disclosure Act (HMDA) data is in, and it confirms a few key trend lines for the mortgage industry: there was significantly less interest in mortgage loans in 2023, and fewer banks thought it worth participating in the market. in 2023, while Hispanic-White borrowers’ share grew from 9.1%

Marketing 417

Marketing Lending Mortgage Finance 417

Appraisal Buzz

MARCH 25, 2024

The number of refinances decreased from 83,522 in the third quarter of 2023 to 71,378 in the fourth quarter of 2023. percent at the end of the third quarter of 2023. percent at the end of the third quarter of 2023 to 0.77 percent at the end of the fourth quarter of 2023. percent to 0.55 This compares with 3.42

Inventory 398

Inventory Finance Business Appraisal 398

Housing Wire

FEBRUARY 2, 2024

In a high-rate environment, Pennymac Financial Services delivered profits in 2023, mainly due to the performance of its servicing portfolio. million net income in 2023, down from $475.5 billion in unpaid principal balance (UPB) in 2023, down 9% year over year. million in Q4 2023, compared to a pretax income of $101.2

Technology 424

Technology Legal Mortgage Contracts 424

Housing Wire

JANUARY 5, 2023

So where does all that drama leave us for 2023? My 2023 price forecast: As long as rates stay above 5.875% , my affordability index will see the pressure on home prices continue. For 2023, assuming rates stay above 5.875%, we should see a 5.9%-7.4% million in 2023. Buckle up as we look at each factor individually.

Housing Market 543

Housing Market Marketing Inventory New Listings 543

Appraisal Buzz

JULY 12, 2024

Nevertheless, compared to the history of the data (which dates back to 2001), 2023 saw the second-highest share of investor purchases. in 2023 compared to the previous year, surpassing the 20.4% About the same amount of houses were bought by investors in the first quarter of 2023 as by non-investors, whose purchases decreased 6.1%

Investors 370

Investors Inventory Buyers Marketing 370

Housing Wire

JANUARY 19, 2024

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. In 2023, 4.09 If there had been more listings on the market in 2023, we would have had more home sales.” million existing homes were sold, the fewest since 1995.

Inventory 468

Inventory Realtors Housing Market Construction 468

Housing Wire

FEBRUARY 23, 2024

In December 2023, a startling rumor started to spread on social media — that large institutional buyers had purchased 44% of the available homes on the market in 2023, leaving policymakers concerned with the potentially predatory grip of these entities. HousingWire lead analyst Logan Mohtashami immediately debunked the claim.

Buyers 443

Buyers Investors Real Estate Insurance 443

Housing Wire

DECEMBER 13, 2023

It was the fourth pause recorded in 2023. In 2023, the Fed hiked the benchmark federal funds rate by a quarter-point at four meetings, most recently in July. No industry has been harder hit by the Fed’s monetary policy in 2023 than mortgage. million in Q2 2023. at its last meeting of the year on Wednesday.

Mortgage 526

Mortgage Investors Sellers Marketing 526

Sacramento Appraisal Blog

JANUARY 11, 2024

On paper, it looked like home prices should have tanked in 2023 since we had some of the worst sales volume ever. Any […] The post It was a weird housing market in 2023 first appeared on Sacramento Appraisal Blog. Yet, prices didn’t dip that much. Today, let’s talk about what happened in a big recap.

Housing Market 343

Housing Market Marketing Appraisal 343

Housing Wire

JANUARY 31, 2024

RIP 2023 — Whew, that was a year none of us would like to live through again. The factor for 2023 was 3.58%. Another startling fact was that 2023 saw just over 4 million existing home sales. That is how bad 2023 was for those of us in this business. Existing home prices as of the end of 2023 trade at 4.73

Housing Market 465

Housing Market Marketing Inventory Business 465

Housing Wire

JANUARY 9, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. Here’s what that buyer behavior in the second half of 2022 is telling us about two key retail market trends in 2023: 1. Cincinnati and Miami.

Retail 496

Retail Sellers Buyers Market Value 496

Housing Wire

FEBRUARY 15, 2024

billion in net worth at the end of 2023, including $17.4 billion shift to a benefit for credit losses in 2023 from provision for credit losses in 2022,” according to the report. billion shift to a benefit for credit losses in 2023 from provision for credit losses in 2022,” according to the report. In 2023, we delivered $17.4

Government 465

Government Inventory Mortgage 465

Housing Wire

JULY 30, 2024

As the mortgage and real estate markets continue to face challenges, nearly 800,000 low down payment home purchases in 2023 leveraged private mortgage insurance (PMI), with first-time homebuyers accounting for 64% of the total. This is according to a new report published by U.S. Mortgage Insurers (USMI).

Insurance 454

Insurance Mortgage Finance Buyers 454

Housing Wire

JANUARY 25, 2024

economy because single-family permits grew in 2023. In 2023, residential constructions workers weren’t laid off like in previous economic cycles. So why were so many people so bearish on seeing a recession going into 2023 and staying there the entire time? I cover the topic in this HousingWire Daily episode.

Construction 514

Construction Housing Market Inventory Marketing 514

Housing Wire

JANUARY 17, 2024

20, 2023 , will have material impact on its fourth quarter 2023 financial results, according to a document filed with the Securities and Exchange Commission last Friday. 29, 2023. During the third quarter of 2023 , First American reported $1.481 billion in revenue and a net loss of $1.2 million.

Insurance 444

Insurance Business Finance Real Estate 444

Sacramento Appraisal Blog

JANUARY 3, 2023

What’s the real estate market going to do in 2023? The post Real estate trends to watch in 2023 first appeared on Sacramento Appraisal Blog | Real Estate Appraiser. Nobody has a crystal ball, but here are some emerging trends. Scroll quickly or digest slowly.

Real Estate 416

Real Estate Appraisal Marketing Inventory 416

Housing Wire

MARCH 15, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA). The trade group also projected the 30-year fixed mortgage rate to average around 6.9% in the next quarter.

Valuation 466

Valuation Mortgage Inventory Marketing 466

Housing Wire

DECEMBER 8, 2023

High mortgage rates, a lack of inventory and elevated home prices have turned 2023 into the least affordable year for homebuyers on record. For an American earning $78,642, the country’s median income in 2023, the purchase of a median-priced home of $408,806 meant spending 41.4% in 2022. “A

Inventory 445

Inventory Buyers Mortgage Marketing 445

Housing Wire

MARCH 28, 2024

the parent of digital lender Better.com , narrowed its net loss between the third and fourth quarters of 2023 by more than 80%, driven by expense cuts to its platform and marketing efforts. million in Q4 2023, down from a loss of $339.4 For all of 2023, the New York-based digital lender reported a GAAP net loss of $534.4

Loan Officers 453

Loan Officers Technology Investing Realtors 453

Housing Wire

JUNE 18, 2024

Last month’s reading marked the smallest monthly increase on a seasonally adjusted basis since January 2023. Home prices rose 0.26% month over month in May, down from a monthly increase of 0.44% in April. National home prices were up 7.16% year over year in May, according to Redfin, down from 7.25% growth in April.

New Listings 458

New Listings Sellers Buyers Mortgage 458

Housing Wire

FEBRUARY 14, 2024

Government-sponsored enterprise (GSE) Freddie Mac reported a 65% annualized increase in income stemming from its single-family mortgage programs in fourth-quarter 2023, along with a 13% increase in net income for the full year, according to quarterly and annual earnings reports released on Wednesday. The full-year profit for 2023 reached $10.5

Finance 435

Finance Government Housing Market Buyers 435

Housing Wire

FEBRUARY 7, 2024

New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. million GAAP net income in 2023 — lower than the figure of $864.8 In 2023, Rithm acquired $1.4 million in 2023. billion in Q4 2023, lower than the $11.1

Valuation 429

Valuation Business Mortgage Loan Officers 429

Housing Wire

MARCH 11, 2024

Remote online notarization (RON) platform NotaryCam expanded its independent notary platform customer base by 46% in 2023, according to an announcement on Monday. In addition to expanding its notary platform customer base, NotaryCam also grew the number of loss-mitigation-related RON transactions it was part of in 2023 by 115%. “We

Law 440

Law Real Estate Investors Sellers 440

Appraisal Buzz

MARCH 25, 2024

As most would expect, last year was a disappointing year for home flipping, as affirmed by ATTOM’s 2023 U.S. were flipped in 2023 – down 29.3% The average gross profit for a typical home flip in 2023 fell to $66,000, down from $70,100 in 2022, ATTOM says. In 2023, the landscape for home flipping across the U.S.

Renovations 335

Renovations Investors Inventory Sellers 335