Real Estate News

AUGUST 8, 2024

The 30-year mortgage fell to its lowest level since May 2023, which “should begin to pique their interest in making a move” — but buyers might not be ready.

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Buyers Mortgage 301

Housing Wire

SEPTEMBER 30, 2024

Buyers in August 2024 needed to earn $77,000 per year to afford a median-priced starter home of $250,000. Starter homes are defined as those priced in the fifth to 35th percentiles of their respective markets, and homes are deemed affordable if the mortgage payment consumes no more than 30% of the household income. more than they need.

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Buyers Real Estate Mortgage Brokerage 476

Housing Wire

DECEMBER 28, 2023

In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate ’s managing director and a top-producing loan officer. This is a lot different than 2008 where you needed a credit score and a heartbeat to get a mortgage. An additional 21% closed 1.5

Business 459

Business Mortgage Loan Officers Inventory 459

Housing Wire

JULY 23, 2024

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin ’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% This share also breached 16% in October 2022 and October 2023.

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Buyers HOA Property Taxes Inspection 459

Housing Wire

JUNE 18, 2024

Last month’s reading marked the smallest monthly increase on a seasonally adjusted basis since January 2023. A slight uptick in new listings has taken some of the pressure off sales prices as buyers have more options to choose from. Home prices rose 0.26% month over month in May, down from a monthly increase of 0.44% in April.

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New Listings Sellers Buyers Mortgage 465

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

JULY 6, 2023

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 6, up significantly from last week ’s 6.71%.

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Mortgage Construction Inventory Investors 397

Housing Wire

SEPTEMBER 5, 2024

mortgage market in 2023, up from 14.3% Because FHA accepts lower credit scores , higher debt-to-income ratios and lower down payments than most conventional mortgages, first-time buyers have relied on them due to the ongoing affordability challenges in today’s housing market from elevated prices and mortgage rates.

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Buyers Real Estate Agent Inspection Real Estate 466

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. in events to garner business. Roughly 36.3%

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Housing Market Mortgage Marketing Inventory 447

Housing Wire

DECEMBER 13, 2023

As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates , steep home prices , scarce inventory and anemic mortgage originations, compared with the boom years of 2020 and 2021. With first-lien mortgages … the trading volumes are down from 2021 and 2022 peak levels.

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Mortgage Marketing Investors Lending 427

Appraisal Buzz

SEPTEMBER 12, 2024

Mortgage rates dropped to the lowest level since February 2023 this week, as the average rate for a 30-year fixed-rate mortgage fell to 6.20%, down from an average of 6.35% last week and down from 7.18% a year ago, according to Freddie Mac’s Primary Mortgage Market Survey. The Fed is expected to cut rates by either 0.25

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Mortgage Buyers Appraisal Marketing 195

Housing Wire

OCTOBER 25, 2024

31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. With NAR’s settlement requiring agents to have a signed buyer agency agreement with every buyer that spells out how much the agent will be paid in a transaction, many believed that buyers using a loan from the U.S.

Buyers 445

Buyers Real Estate Realtors Agents 445

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% During the four weeks ending Nov.

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Inventory Buyers Mortgage Marketing 453

Housing Wire

JANUARY 18, 2024

Despite lower mortgage rates , housing starts ended the year on a downturn, after posting a large monthly gain in November. Overall, an estimated 1.413 million units were started in 2023, a drop of 9.0% Despite the overall drop in 2023, the rate at which building permits were issued in December was up 1.9% compared to 2022.

Construction 485

Construction Real Estate Housing Market Buyers 485

Appraisal Buzz

MAY 14, 2024

Demand for vacation-home mortgages fell 40% in 2023 as the average U.S. Austin and the Bay Area saw the biggest declines in mortgages for second homes in 2023, according to the firm. homebuyers took out 90,772 mortgages for second homes in 2023, Redfin’s data shows. In total, U.S. in 2022 and 5.1%

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Mortgage Buyers Investing Agents 195

Housing Wire

NOVEMBER 6, 2024

A stagnant housing market hasn’t held back Zillow ’s mortgage business. On its third-quarter earnings call Wednesday evening, the real estate portal giant reported that its mortgage revenue rose 63% year over year, driven by an 80% jump in purchase origination volume.

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Mortgage Real Estate Real Estate Agent Realtors 397

Housing Wire

JANUARY 12, 2023

Mortgage industry watchers have started 2023 with optimism regarding the possibility of mortgage rates returning to the 5% range this year – but not without a dose of volatility on the way. “The mortgage market began 2023 on a positive note, with a decline in mortgage rates leading to an uptick in refinance applications.

Mortgage 505

Mortgage Marketing Investors Clients 505

Housing Wire

FEBRUARY 1, 2023

The slowdown in the Federal Reserve ‘s short-term rate hikes , announced on Wednesday, was welcome news for the mortgage market and solidified expectations that the 30-year mortgage rates will drop throughout 2023. The MBA forecasts a modest drop in mortgage rates through 2023, ending closer to 5%.

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Buyers Mortgage Landlords Law 418

Housing Wire

JANUARY 30, 2024

A total of 135 new homebuyer assistance programs were introduced in 2023, a 6% increase over the previous year. A growing number of nonbank mortgage lenders have recently rolled out down payment assistance (DPA) programs to increase their origination share in a challenging mortgage environment.

Landlords 518

Landlords Housing Market Insurance Mortgage 518

Housing Wire

AUGUST 26, 2024

This was in stark contrast to three other market segments that posted declines in the number of pending sales compared to July 2023. fewer pending sales compared to July 2023. We are seeing a lot of younger buyers looking at smaller starter homes. According to Redfin, pending sales of starter homes grew 10.2%

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Buyers Inventory Marketing Contracts 448

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.

Buyers 497

Buyers Mortgage Real Estate Agent Contracts 497

Housing Wire

OCTOBER 31, 2024

By at least one measurement, affordability is improving for prospective homebuyers, even as home prices continue to rise and mortgage credit availability remains relatively low. According to data released Thursday by the Mortgage Bankers Association (MBA), the median payment for purchase loan applicants declined by 0.8%

Mortgage 436

Mortgage Buyers Finance 436

Housing Wire

FEBRUARY 13, 2024

Despite high mortgage rates , master planned communities (MPCs) did well in 2023. According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022.

Buyers 482

Buyers Design Construction Marketing 482

Appraisal Buzz

JUNE 20, 2024

Buyers are also avoiding earlier stages of the house-hunting process. Buyers are retreating primarily due to high home costs. Buyers are retreating primarily due to high home costs. to an all-time high of $396,000, while the median monthly mortgage payment is $2,781, approximately $60 less than the previous record high.

Buyers 397

Buyers New Listings Sellers Mortgage 397

Housing Wire

DECEMBER 14, 2022

On the heels of the central bank’s announcement to raise the federal funds rate by 50 basis points to 4.25%-4.50% on Wednesday, most economists and industry experts were on the same page about the housing outlook and which direction mortgage rates would be headed. . last week, are expected to drift down and end 2023 around 5.2%,” he said. .

Mortgage 448

Mortgage Housing Market Sellers Buyers 448

Housing Wire

OCTOBER 11, 2024

in the past year, driven by more cases of identity and transaction fraud New data shows that cases of fraud among mortgage applicants is on the rise — an eye-raising trend as demand from borrowers remains relatively quiet. The CoreLogic Mortgage Application Fraud Risk Index jumped by 8.3% in 2024 and by 12% in 2023.

Mortgage 516

Mortgage Lending Insurance Real Estate 516

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.

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Retail Sellers Buyers Market Value 501

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 524

Mortgage Inventory New Listings Contracts 524

Housing Wire

DECEMBER 22, 2022

Mortgage industry executives, analysts and economists have started to place their bets on where mortgage rates will settle in 2023 amid the Federal Reserve’s tightening monetary policy and the fears of an economic recession. Mortgage rates averaged 3.05% one year ago.) at the end of 2023.

Mortgage 468

Mortgage Tools Finance Housing Market 468

Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. The first was Q1 2023, and Q4 the second. is more than 4 percentage points higher than for repeat buyers in recent months.

Lending 514

Lending Mortgage Buyers Government 514

Housing Wire

AUGUST 22, 2024

“As part of their low-cost selling strategy, sellers using Homie would commonly make an offer of compensation to buyer-brokers that was somewhat below the buyer agent compensation (BAC) offered by sellers represented by traditional brokers, including the Corporate Defendants.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

Housing Wire

JULY 13, 2024

In 2023, following the collapse of Silicon Valley Bank , the spreads between the 30-year mortgage and 10-year yield were at their worst, leading to new cycle highs. This meant mortgage rates were significantly higher than average. Mortgage spreads Last year, the 10-year yield hit 5% and mortgage rates got above 8%.

Mortgage 514

Mortgage New Listings Inventory Contracts 514

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . ” Uptick in applications . .

Mortgage 435

Mortgage Housing Market Retail Contracts 435

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. billion, the report stated.

Finance 443

Finance Government Housing Market Buyers 443

Appraisal Buzz

SEPTEMBER 5, 2024

The trajectory of interest rates and what Americans refer to as their “magic number”—the mortgage rate that would compel them to buy a home—have them feeling more optimistic than they did about insurance and housing prices. Further, the majority of Americans feel upbeat regarding the overall trajectory of the mortgage industry.

Buyers 370

Buyers Insurance Bracketing Mortgage 370

Appraisal Buzz

JULY 9, 2024

The market is trending slightly in the direction of becoming more buyer-friendly thanks to these factors. While the quantity of homes on the market still trails pre-pandemic levels, home buyers are seeing more options to choose from as inventory increases,” said Danielle Hale, Chief Economist for Realtor.com. “The percentage points).

Housing Market 418

Housing Market Buyers Marketing Inventory 418

Housing Wire

JANUARY 25, 2024

This strong finish to 2023 is 8% above the revised November rate of 615,000 and 4.4% Demand picked up in December on the strength of declining mortgage rates. The median sale price of a new home in December 2023 was $413,000, and 47% of homes sold were priced below $400,000. above the December 2022 estimate of 636,000.

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Inventory Development Buyers Mortgage 468