Housing Wire

DECEMBER 4, 2024

The Federal Housing Administration (FHA) announced last week that the Home Equity Conversion Mortgage ( HECM ) limit for 2025 will be $1,209,750. Peter Sciandra, executive vice president of reverse lending and secondary marketing at Fairway Independent Mortgage Corp., Others are taking a more nuanced approach to the increase.

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Housing Wire

JULY 23, 2024

Home price growth in the second quarter was stronger than previously anticipated, but economists at Fannie Mae believe it will likely moderate soon, closing 2024 and 2025 at annualized rates of 6.1% Fannie now forecasts the 30-year fixed rate mortgage rate to average 6.8% and 3%, respectively. in 2024 and 6.4% Credit: Fannie Mae

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Inventory Housing Market Construction Mortgage 468

Appraisal Buzz

NOVEMBER 26, 2024

Housing Market Supply and Demand: An analysis of housing inventory trends and construction pressures affecting pricing and availability. Conerly’s analysis included interest rates, inflation, and the Federal Reserve’s strategic direction, with insights into consumer behavior, government spending, and construction.

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Real Estate Insurance Tenants Housing Market 367

Appraisal Buzz

DECEMBER 13, 2024

The National Association of Realtors (NAR) has announced 10 top hot spots for the 2025 housing market based on economic, demographic and housing factors predicted to significantly impact local markets. All areas offer a favorable financing environmenteither with lower proportions of locked-in homeowners or lower mortgage rates.

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Inventory Bracketing Buyers Housing Market 370

Housing Wire

DECEMBER 18, 2024

Interestingly, employment for residential construction workers typically one of the first areas to experience declines before a recession has not yet seen its usual downturn. Perhaps most importantly, some homebuilders have been subsidizing mortgage rates to help maintain employment and finish ongoing projects. We will soon find out.

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Construction Modernization Mortgage Housing Market 511

Housing Wire

NOVEMBER 26, 2024

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan. Virgin Islands account for higher construction costs.

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Housing Wire

JULY 23, 2024

Mortgage rates continue to move lower this week even as higher borrowing costs have kept activity subdued across many areas of the housing market. Lower mortgage rates are having a positive impact on application levels, with the Mortgage Bankers Association (MBA) reporting last week that applications were up 3.9%

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Mortgage Real Estate Agent Finance Buyers 511

Housing Wire

AUGUST 22, 2024

The Federal Housing Finance Agency (FHFA) on Wednesday updated its capital requirements for private mortgage insurers and allowed rules established during the COVID-19 pandemic to sunset. The implementation will occur in phases starting on March 31, 2025. According to the USMI, private mortgage insurers held more than $26.8

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Housing Wire

SEPTEMBER 5, 2024

Declining mortgage rates have yet to break the dam on the stalled housing market, but the sweet spot on rates that would get the market moving again is about 5%. This is why industry estimates call for a robust 2025 with $2 trillion in expected mortgage originations.” But now rates are down more than 1.5% from this peak.

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Appraisal Buzz

DECEMBER 16, 2024

As the new year draws near, Fannie Mae anticipates that many of the housing trends from 2024 will persist in 2025, with the lock-in effect of mortgage rates and housing affordability continuing to be major obstacles for countless Americans. In 2025, economists predict that the average mortgage rate will continue to be higher than 6%.

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Housing Wire

JANUARY 10, 2025

Todays jobs report beat expectations, and in fact, the labor data was solid for jobs week, which means mortgage rates will stay elevated because its always about labor over inflation when talking about rates. For 2025, the Fed’s unemployment rate forecast is 4.3%. So, what does this mean for mortgage rates?

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Housing Wire

JANUARY 26, 2024

The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. in 2025 to reach $405,200.

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Contracts Housing Market Construction Inventory 482

Housing Wire

JANUARY 7, 2025

The new year has arrived, but little has changed regarding the direction of mortgage rates and their impact on the U.S. At HousingWire s Mortgage Rates Center on Tuesday, the 30-year fixed rate averaged 7.09%. “If mortgage spreads had been as unfavorable as they were in 2023, mortgage rates would be around 8% instead of near 7%.”

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Housing Market Mortgage Marketing Inventory 429

Housing Wire

JANUARY 4, 2025

Our weekly pending contract data has shown year-over-year growth for some time now, even with elevated mortgage rates. For some time now, its been showing positive growth versus both 2022 and 2023 data, and, in the first few days of 2025, versus 2024 data as well. Has the spring home-buying season already begun?

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New Listings Inventory Contracts Mortgage 508

Housing Wire

JANUARY 10, 2025

The construction sector showed little month-over-month change, adding just 8,000 jobs. Residential building construction added 3,500 jobs from November, while residential specialty trade contractors added just 500 positions. The Fed has indicated that inflation is expected to remain a concern in 2025.

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Construction Housing Market Retail Real Estate 397

Housing Wire

JANUARY 19, 2024

Fannie Mae has a rosy outlook for mortgage rates. Following years of volatility in mortgage rates, the housing market will begin its gradual return to a more normal balance in 2024. Origination volume forecast for 2024 Fannie Mae forecasts the total single-family mortgage originations volume to be $1.98 million in Q4 2023.

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Mortgage Contracts Construction Government 541

Housing Wire

AUGUST 21, 2024

Mortgage rates have moved lower in recent months, but Fannie Mae economists said Wednesday that this won’t be enough to increase the number of homes sold in the foreseeable future. These include purchase mortgage application levels, home tour requests and online views of listings. million sales in 2025 (down from 5.26

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Mortgage Construction Inventory Housing Market 476

Appraisal Buzz

JANUARY 10, 2025

This article originally appeared in the January 2025 edition of MortgagePoint magazine, online now. In the modern mortgage industry, lenders are not just setting themselves apart on who has the best Super Bowl ad or the biggest branch footprint, but increasingly also on their approach to technology.

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Appraisal Buzz

JANUARY 10, 2025

It looks like 2025 could be almost as bleak as 2024 for the housing market, according to a report from First American. The firm predicts that mortgage rates will remain above 6%, home price growth will flatten, and inventory will remain tight for the remainder of this year.

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Housing Wire

SEPTEMBER 17, 2024

Mortgage rates, which aren’t directly impacted by overnight interest rates, have nonetheless moved lower in recent months. At HousingWire ‘s Mortgage Rates Center on Tuesday, the average rate for a 30-year conforming loan was 6.34%. That figure was down 13 bps from a week ago and 26 bps lower than two weeks ago.

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Housing Wire

SEPTEMBER 18, 2024

Slowdowns in new single-family construction over the summer reflected sagging builder confidence, but homebuilders appear to be more confident as mortgage rates have fallen over the past few weeks and as the Federal Reserve gets set to cut interest rates. In contract, single-family housing starts were up 15.8% month over month and 5.2%

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Marketing Construction Development Housing Market 488

Appraisal Buzz

OCTOBER 30, 2024

“Contract signings rose across all regions of the country as buyers took advantage of the combination of lower mortgage rates in late summer and more inventory choices,” said Lawrence Yun, Chief Economist for NAR. Further gains are expected if the economy continues to add jobs, inventory levels grow, and mortgage rates hold steady.”

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Contracts Buyers Inventory Mortgage 418

Housing Wire

DECEMBER 14, 2024

The holiday season is here, and despite higher mortgage rates last week, housing demand is displaying some festive resilience. Mortgage rates picked up last week, though that hasnt significantly impacted our pending contract data, which is showing some positive year-over-year growth when we compare it to 2022 and 2023.

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Mortgage Inventory New Listings Contracts 448

Housing Wire

SEPTEMBER 5, 2024

in 2025, according to a quarterly survey of housing experts conducted by government-sponsored enterprise (GSE) Fannie Mae. The third-quarter 2024 survey polled more than 100 mortgage, real estate and academic experts to determine its predictions in partnership with data analytics firm Pulsenomics LLC. “A before slowing to 3.1%

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Construction Design Government Real Estate 459

Housing Wire

JANUARY 16, 2025

Mortgage and property tax payments are not the only expenses that prospective homeowners need to consider. of new construction homes required buyers to pay HOA dues, compared to only 38.2% The company also said that new-construction communities often require less maintenance compared to their older counterparts.

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HOA Property Taxes Construction Buyers 370

Appraisal Buzz

SEPTEMBER 5, 2024

Fannie Mae’s HPES polls more than 100 experts across the housing and mortgage industry and academia for forecasts of national home price percentage changes in each of the coming five calendar years, as measured by the Fannie Mae Home Price Index (FNM-HPI). /*! homeowners with mortgages have an interest rate below 6%, down from 90.6%

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Construction Inventory Housing Market Contracts 459

Appraisal Buzz

JANUARY 8, 2025

According to new Zillow research, Buffalo, New York, is projected to be the hottest major housing market in 2025. Construction that keeps pace with an areas growth remains a crucial piece of keeping homes available and accessible. But both buyers and sellers should expect unpredictable mortgage rates. Thats the good news.

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Buyers Sellers Home Value Construction 370

Housing Wire

NOVEMBER 1, 2024

Mike Fratantoni, chief economist for the Mortgage Bankers Association , noted that while mass layoffs have not occurred, the pace of hiring has slowed in recent months. Construction was another sector that posted gains in October, adding 8,000 jobs. But mortgage rates are influenced by much more than what the Fed does.

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Construction Housing Market Real Estate Mortgage 370

Housing Wire

DECEMBER 12, 2024

There also could be a role for reverse mortgages according to one senior AARP leader, but the focus on older people with more limited financial resources is the north star for AARP, she said. A role for reverse mortgages? The FHA recently increased the HECM limit for 2025 to more than $1.2 Maria Cantwell (D-Wash.)s

Mortgage 370

Mortgage Construction Home Improvement Government 370

Housing Wire

FEBRUARY 23, 2024

The year 2024 has started with cautious optimism that mortgage rates will drop, sparking much-needed activity in the sluggish U.S. Mortgage rates, however, have been on a rising trend of late. HousingWire’s Mortgage Rates Center showed the 30-year fixed-rate mortgage at 7.21% on Feb. housing market. trillion.

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Housing Market Marketing Retail Mortgage 488

Appraisal Buzz

DECEMBER 11, 2024

is Realtor.coms Top Housing Market for 2025 , a list of the top 100 housing markets that are forecast to see increased sales in the coming year. average, with McAllen, Texas leading as the most affordable, with living costs 13% below The post Realtor.com Reveals its Top Housing Markets for 2025 appeared first on Appraisal Buzz.

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Housing Market Marketing Buyers Design 195

Appraisal Buzz

AUGUST 21, 2024

According to the Fannie Mae Economic and Strategic Research (ESR) Group’s August 2024 commentary , total home sales are predicted to be lower than previously predicted through the end of 2024 and then not significantly increase until later in 2025, even with the recent decline in mortgage rates. million in 2025.

Mortgage 397

Mortgage Construction Inventory Marketing 397

Housing Wire

AUGUST 14, 2024

It makes sense for the Federal Open Market Committee to cut interest rates in September, given that inflation is mainly tied to housing costs and housing costs are being driven by high mortgage rates. But shelter has been an outsized contributor to the Consumer Price Index. When including seasonal adjustments, inflation rose 0.2% in June. “In

Inventory 459

Inventory Construction Mortgage Buyers 459

Appraisal Buzz

MAY 9, 2024

PERSON OF THE WEEK: At a time of lower-profit margins, a growing number of mortgage lenders are looking to lift their balance sheets by offering construction-to-per loans. This has led to the current boom in construction loan administration software designed to manage and simplify these complex products.

Construction 195

Construction Lending Technology Design 195

Appraisal Buzz

OCTOBER 18, 2024

Department of Housing & Urban Development (HUD) have announced new residential construction statistics for September 2024. Builders improved outlook is likely due to the beginning of the Fed’s easing cycle and expectations of lower interest rates in 2025.” Census Bureau and the U.S. below the September 2023 rate of 1,363,000.

Construction 418

Construction Housing Market Inventory Home Value 418

Appraisal Buzz

JUNE 21, 2024

Despite the recent increase in listings, home sales have remained weaker than expected, indicating that many homeowners are no longer willing to delay moving due to the so-called “lock-in effect”—possibly due in part to consumers’ general upward recalibration of mortgage rate expectations following the pandemic’s historically low mortgage rates.

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Inventory Construction Finance Development 397

Housing Wire

NOVEMBER 11, 2024

New York-based digital mortgage lender Better.com launched a streamline refinance loan product on Monday that aims to help military veterans and service members save money on long-term interest expenses and closing costs. of the loan amount) compared to the VA’s purchase, construction and cash-out refi options.

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Appraisal Construction Mortgage Technology 368