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

JANUARY 30, 2025

Compared to a month prior, contract signings fell 5.5% An index reading of 100 is equal to the level of contract signings in 2001. After four straight months of gains in contract signings, one step back is not welcome news, but it is not entirely surprising, Lawrence Yun, NARs chief economist, said in a statement. in the West.

Contracts 439

Contracts Housing Market Buyers Realtors 439

Housing Wire

DECEMBER 18, 2024

Mortgage applications declined 0.7% 13, driven by slight decline in refinance activity, according to data released Wednesday by the Mortgage Bankers Association (MBA). The decline in applications broke a five-week streak of increases in mortgage demand. Adjustable-rate mortgage (ARM) activity remained steady at 5.3%

Mortgage 395

Mortgage Contracts Government Inventory 395

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

AUGUST 13, 2024

The Consumer Financial Protection Bureau (CFPB) on Tuesday released an advisory opinion stating that contracts for deed are under federal home lending rules and should provide consumer protections. Mancini – who is testifying during a CFPB field hearing on land contracts on Tuesday in St. among subprime loans.

Contracts 482

Contracts Mortgage Law Sellers 482

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

APRIL 5, 2025

Mortgage rates recently hit a year-to-date low, coinciding with ongoing market disruptions from tariffs. Additionally, our weekly pending contract data and new listings are trending positively compared to last year. In fact, if mortgage rates head toward 6%, we will have a positive year here.

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Appraisal Buzz

OCTOBER 17, 2024

According to statistics from the September 2024 Builder Application Survey (BAS) by the Mortgage Bankers Association (MBA), mortgage applications for the purchase of new homes grew by 10.8% The FHA share of applications was elevated to almost 29%, a sign that first-time buyers are active.” over the previous year.

Mortgage 396

Mortgage Contracts Construction Buyers 396

Housing Wire

MARCH 14, 2025

The mortgage professional of the future goes beyond the transaction. Our mortgage industry is experiencing a fundamental shift. Traditional loan officers who focus solely on transactions are being replaced by mortgage professionals who act as financial strategists, long-term advisors, and educators.

Client Relationships 358

Client Relationships Mortgage Marketing Loan Officers 358

Appraisal Buzz

MARCH 5, 2025

of homes that went under contract that month, up from 13.4% High mortgage rates and high home prices combined with economic uncertainty are causing some would-be buyers to change their minds. Increasing inventory and reduced demand has tilted the housing market in buyers favor in recent months.

Buyers 273

Buyers Inspection Agents Contracts 273

Housing Wire

FEBRUARY 24, 2025

There are obviously fewer buyers who can afford these prices. Mortgage rates are a big variable here. In 2024, we saw a notable increase in buyer demand when mortgage rates got close to 6%. However, mortgage rates were climbing to their highest level of the year at this time in 2024. This year its 2%. There are 28.7%

Inventory 494

Inventory New Listings Sellers Contracts 494

Housing Wire

OCTOBER 28, 2024

Given the unrelenting mortgage costs, generally weak homebuyer demand, and the year’s rising supply of unsold homes, I’ve been expecting home prices to recede a bit in the second half of this year. Maybe next year, if mortgage rates stay in the high 6s, inventory will build closer to the old normal after five years of a severe shortage.

Inventory 476

Inventory New Listings Sellers Contracts 476

Appraisal Buzz

NOVEMBER 27, 2024

NAR’s Pending Home Sales Index (PHSI)–a forward-looking indicator of home sales based on contract signings–rose 2% to 77.4 An index of 100 is equal to the level of contract activity in 2001. Another major housing indicator, mortgage application volume, has trended downward. in October. week-over-week. from last month to 68.7,

Contracts 418

Contracts Inventory Mortgage Buyers 418

Housing Wire

DECEMBER 30, 2024

Although higher home prices , rising mortgage rates and other expenses are obvious factors, there may be more to the story. The homes that went under contract took 43 days to do so the slowest pace since 2019. Some agents attribute stale inventory growth to unreasonable prices that repel would-be buyers from pursuing certain listings.

Inventory 488

Inventory Sellers Housing Market Contracts 488

Housing Wire

NOVEMBER 4, 2024

This week, we count 14% more homes in the contract pending stage now than a year ago. Last year was weak as mortgage rates were hitting 8%. Mortgage rates were super high and inventory was building. That difference can be attributed to mortgage rates staying higher for longer through September.

Inventory 396

Inventory New Listings Sellers Contracts 396

Appraisal Buzz

DECEMBER 19, 2024

More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%. As of December 12, the 30-year fixed-rate mortgage averaged 6.6%, according to Freddie Mac. Sales increased 6.1% Sales rose 6.8%

Inventory 396

Inventory Realtors Buyers Contracts 396

Housing Wire

JANUARY 27, 2025

In recent weeks, home sales also faltered in the face of 7% mortgage rates. Now some of them are sliding below the year prior, which is driven by relentlessly high mortgage rates. This market is at a standstill as long as mortgage rates are above 7%. Recently, weve shared that the inventory of unsold homes is growing.

Inventory 396

Inventory Sellers New Listings Contracts 396

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

MARCH 20, 2025

It seems that everyone in mortgage and real estate has an opinion about Rocket Mortgage ‘s pending $1.75 After the deal was announced, CEO Varun Krishna told investors that he expects a lift in purchase mortgage growth after the deal closes. Essentially, it’s the holy grail of mortgage and real estate tech.

Mortgage 261

Mortgage Real Estate Brokerage Loan Officers 261

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

Buyers 514

Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

FEBRUARY 28, 2025

The trend is most pronounced in Atlanta, Las Vegas, Houston, and parts of Florida , where increasing housing supply is leading to a buyers market. With less competition, some buyers are backing out during the inspection period, hoping for a better deal. Some buyers are getting cold feet with everything going on in the world.

Inspection 356

Inspection HOA Buyers Real Estate Agent 356

Housing Wire

MARCH 3, 2025

The 30-year fixed mortgage has followed suit, recently falling as low as 6.75%, the lowest level since mid-December. Its quite obvious that stubbornly high mortgage rates slowed down early season homebuyers in the first quarter of 2025. So, mortgage rates have been declining for several weeks now. Thats a pretty notable swing.

New Listings 373

New Listings Inventory Contracts Sellers 373

Housing Wire

JANUARY 6, 2025

At the same time, mortgage rates jumped back over 7%. What were trying to track are what the real-time signals are telling us about homebuyers and 7% mortgage rates. In those times, we just had far more buyers than sellers. Since were entering the year with mortgage rates over 7%, that may put a damper on purchase demand.

Inventory 448

Inventory New Listings Contracts Sellers 448

Appraisal Buzz

AUGUST 13, 2024

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB). The CFPB is had a field hearing in St.

Contracts 367

Contracts Investors Sellers Lending 367

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 448

Buyers Mortgage New Listings Real Estate 448

Appraisal Buzz

JANUARY 31, 2025

According to a recent Redfin study, housing prices and mortgage rates are still high, and home sales are at their weakest pace since the pandemic began. Prospective buyers have been cautious because theyve seen homes sitting on the market and theyve heard interest rates and prices may drop. The market had 5.2 year-over-year.

New Listings 390

New Listings Sellers Buyers Mortgage 390

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 459

Buyers HOA Property Taxes Inspection 459

Housing Wire

NOVEMBER 18, 2024

Mortgage rates continue to move higher and that’s impacting buyers. When we add back in another 7,500 new listings with immediate sales — those are already in contract and not added to the active inventory — overall that’s just 3% more sellers than a year ago.

Housing Market 448

Housing Market New Listings Marketing Inventory 448

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 468

Buyers Sellers Agents Contracts 468

Appraisal Buzz

MARCH 14, 2025

This implies that the buyer would have to get flood insurance through the private sector, which does not provide flood insurance in many parts of the United States, in the absence of the National Flood Insurance Program (NFIP). If the delay is too long, some contracts may expire, leading buyers to renegotiate or back out of the deal.

Insurance 389

Insurance Renovations Sellers Design 389

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 488

Buyers Inventory New Listings Sellers 488

Housing Wire

FEBRUARY 26, 2025

Mortgage applications decreased by 1.2% from last week on a seasonally adjusted basis, according to data from the Mortgage Bankers Associations (MBA) weekly mortgage applications survey for the week ending Feb. The refinance share of mortgage activity increased to 38.9% of total applications from 38.7% the previous week.

Mortgage 213

Mortgage Contracts Inventory Buyers 213

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 493

Buyers Marketing Sellers Loan Officers 493

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 482

Buyers Agents Real Estate Agent Loan Officers 482

Housing Wire

FEBRUARY 3, 2025

At this time, of year theres new inventory and new buyers are shopping. In recent weeks, we can see that those buyers are waiting. That trend is likely to continue until mortgage prices come back down. Home prices contract The median price for home sales contracts entered this week was at $389,700. A shrinking U.S.

Sellers 410

Sellers Inventory New Listings Contracts 410

Housing Wire

NOVEMBER 4, 2024

Although I was certainly nervous about the process, I knew I was far better prepared — and had far more resources and industry experts available for consultation — than most first-time buyers. Lamacchia Realty is using its own buyer representation agreements , and I found the form straightforward and easy to understand.

Agents 435

Agents Inspection Real Estate Sellers 435

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