Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. The average interest rate on a 30-year-fixed mortgage was 7.07% in August. That rate is up from 14.3%

Buyers 424

Buyers Mortgage New Listings Real Estate 424

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% of homes that went under contract. of purchase agreements.

Buyers 436

Buyers HOA Property Taxes Inspection 436

Housing Wire

NOVEMBER 23, 2022

Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. It’s a terrible time for homebuyers. in the second year.

Buyers 492

Buyers Marketing Sellers Loan Officers 492

Housing Wire

DECEMBER 30, 2024

Home prices finished 2024 up a few percent nationally and mortgage rates are at their highest level in seven months back over 7% as we head into January. In fact, at $2,290, the typical mortgage payment for homebuyers is starting this next year at the highest level ever. fewer than a week prior. Its the holidays, of course.

Housing Market 543

Housing Market Marketing New Listings Inventory 543

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

OCTOBER 9, 2024

17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. O’Koniewski said this can sometimes make the buyer’s offer more attractive.

Buyers 428

Buyers Sellers Agents Contracts 428

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%

Mortgage 510

Mortgage Real Estate Agent Finance Buyers 510

Appraisal Buzz

AUGUST 30, 2024

A forward-looking measure of home sales based on contract signings, the Pending Home Sales Index (PHSI) fell to 70.2 The level of contract activity in 2001 is represented by an index of 100. “A Current lower, falling mortgage rates will no doubt bring buyers into market.” Pending transactions decreased by 8.5%

Contracts 312

Contracts Realtors Inventory Buyers 312

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 499

Mortgage New Listings Inventory Contracts 499

Housing Wire

JULY 22, 2024

Mortgage rates have come down with recent positive inflation news. I expect that mortgage rates under 6.75% and moving towards 6.5% Mortgage rates are down, but it doesn’t appear to have hit a threshold to incentivize homebuyers yet. will be significant enough move in rates to move the needle for buyers.

Buyers 442

Buyers Inventory New Listings Sellers 442

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

FEBRUARY 5, 2024

Mortgage rates are back up over 7% this morning on the back of strong economic growth data. The 10-year bond yield jumped back over 4% and that pushes mortgage rates higher too. Mortgage rates are 40 basis points higher than a month ago, and 100 basis points higher than a year ago. There are more buyers than sellers.

Mortgage 438

Mortgage Inventory Sellers New Listings 438

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. Still, this affordability boost is good for any buyers in the market now. These homes were on the market and are now in contract.

Mortgage 473

Mortgage Inventory New Listings Contracts 473

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. There were very few buyers in the fourth quarter 2023. Homes stay under contract for 30 to 40 days.

Housing Market 438

Housing Market Marketing Mortgage Contracts 438

Housing Wire

FEBRUARY 12, 2024

There were 66,000 new listings this week, of which 14,000 are already in contract. 14,000 of those new listings are already in contract. Immediate sales If sellers are growing we need to know if buyers are growing too. Of the 66,000 new listings this week, 14,000 of those are already in contract.

Sellers 385

Sellers Housing Market Buyers New Listings 385

Housing Wire

FEBRUARY 20, 2024

Mortgage rates are back over 7%. The economy has continued to be strong, so mortgage rates have defied expectations and remained very high. New pendings grow As inventory grows and new sellers grow, it was an encouraging week for new contracts too. This week saw 60,000 new contracts started for single family home purchases.

Mortgage 497

Mortgage Inventory Sellers New Listings 497

Housing Wire

MAY 11, 2022

Prospective homebuyers aren’t deterred by the skyrocketing mortgage rates amid a slow start to the spring home-buying season this year. Despite a slow start to this year’s spring home buying season, prospective buyers are showing some resiliency to higher rates. The refinance share of mortgage activity dropped to 32.4%

Mortgage 459

Mortgage Contracts Retail Buyers 459

Housing Wire

NOVEMBER 20, 2023

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. But what happens if consumers pivot away from buyer agents altogether? Enter the savvy seller.

Buyers 412

Buyers Agents Real Estate Agent Loan Officers 412

Appraisal Buzz

JULY 23, 2024

of all homes under contract, being canceled in that month alone. In June, the average interest rate on a 30-year mortgage was 6.92%, while the median house sale price increased by 4% year-over-year to a record $442,525. of the residences that were under contract in that month. of homes that went under contract.

Buyers 396

Buyers Contracts HOA Property Taxes 396

Housing Wire

JANUARY 20, 2025

New contracts for home purchases are coming in very low this month. Buyer activity has been dropping for several weeks and there are now fewer homes in contract than a year ago. Buyer activity has been dropping for several weeks and there are now fewer homes in contract than a year ago. When will that be?

Mortgage 306

Mortgage Inventory New Listings Contracts 306

Housing Wire

AUGUST 26, 2024

Even as pending sales of starter homes across the nation’s 50 largest metro areas grew on a yearly basis in July, the number of homes going under contract in other price tiers backtracked. We are seeing a lot of younger buyers looking at smaller starter homes. Sale prices for starter homes rose 4.2% growth for middle-priced homes.

Buyers 430

Buyers Inventory Marketing Contracts 430

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 506

Mortgage Inventory New Listings Contracts 506

Appraisal Buzz

JUNE 12, 2024

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. In May, new property listings exceeded sales, allowing buyer competition and price rise to slow—and more price relief is expected. The typical mortgage payment is up 11.3% That has cooled competition for houses.

Sellers 397

Sellers Buyers New Listings Home Value 397

Appraisal Buzz

DECEMBER 30, 2024

Year-over-year, contract signings increased in all four U.S. Despite higher mortgage rates in November and persistent affordability challengers, buyers took advantage of more inventory as pending home sales reached the highest level in nearly two years, said First American Deputy Chief Economist Odeta Kushi. in November.

Contracts 435

Contracts Inventory Buyers Sellers 435

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 ? That’s a very small number of new listings that took offers and went into contract immediately. We are not seeing any sales growth.

Housing Market 486

Housing Market New Listings Marketing Mortgage 486

Housing Wire

OCTOBER 18, 2024

Indiana-based lender Ruoff Mortgage is making a move designed to help more homeowners get into new homes with ease. Ruoff Mortgage is teaming up with fintech company Calque to offer two “buy before you sell“ programs to customers. The Trade-In Mortgage — Calque’s most popular program — functions similar to a vehicle trade-in.

Mortgage 390

Mortgage Buyers Contracts Finance 390

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

Real Estate Agent 437

Real Estate Agent Real Estate Buyers Agents 437

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 435

Mortgage Contracts Retail Inventory 435

Appraisal Buzz

NOVEMBER 21, 2024

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for October 2024 shows mortgage applications for new home purchases increased 8.2 However, the FHA share remains elevated at almost 29 percent, driven by a high share of first-time home buyers still active in this segment of the market.”

Mortgage 370

Mortgage Buyers Contracts Construction 370

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 471

Mortgage Inventory Marketing New Listings 471

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% of total applications from 32.3% from the previous week. The MBA expects 5.93

Mortgage 449

Mortgage Contracts Retail Marketing 449

Appraisal Buzz

OCTOBER 30, 2024

increase in the Pending Home Sales Index (PHSI), a measure of future home sales based on contract signings, to 75.8, The amount of contract activity in 2001 is represented by an index of 100. Year-over-year, contract signings grew in the Northeast and West and were unchanged in the Midwest and South. September saw a 7.4%

Contracts 418

Contracts Buyers Inventory Mortgage 418

Housing Wire

OCTOBER 20, 2021

Mortgage application activity dropped 6.3% 15, according to the latest Mortgage Bankers Association survey. And, as you might have guessed, mortgage rates had a lot to do with it. Insufficient housing supply and elevated home-price growth continue to limit options for would-be buyers,” said Kan. for the week ending Oct.

Mortgage 480

Mortgage Contracts Inventory Buyers 480

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 477

Mortgage Construction Contracts Housing Market 477

Housing Wire

OCTOBER 15, 2024

Although the decision is ultimately highly personal and based on a buyer’s budget, needs, and preferences, there are a few things agents need to consider to help them make the best decisions. It can be tough for a buyer to choose when faced with the allure of a brand-new build or the charm and affordability of an older home.

Construction 431

Construction Buyers Agents Marketing 431

Housing Wire

APRIL 1, 2024

As mortgage rates rose starting in 2022, payment affordability got dramatically worse and homebuyer demand dried up. There are still a lot of people who assume that mortgage rates need to fall before we see a rebound in home sales, but the data shows that we only need stability in the mortgage markets. Why the difference?

Inventory 487

Inventory New Listings Contracts Sellers 487

Housing Wire

SEPTEMBER 6, 2023

Despite a slight drop in mortgage rates last week, mortgage applications fell to their lowest level since December 1996. 1, mortgage applications dropped 2.9% from the prior week , according to data from the Mortgage Bankers Association. Meanwhile, the adjustable-rate mortgage (ARM) share of activity decreased to 6.7%

Mortgage 446

Mortgage Contracts Inventory Buyers 446