Appraisal Buzz

NOVEMBER 6, 2024

According to a recent Zillow poll, nearly half of recent homebuyers who obtained a mortgage did so at a rate lower than 5%. Even though mortgage rates are currently close to 7%, many purchasers who bought a home within the last year used unconventional thinking to become homeowners.

Buyers 370

Buyers Marketing Sellers Loan Officers 370

Appraisal Buzz

OCTOBER 16, 2024

The post Buyers and Sellers Embrace Market in Wake of Mortgage Rate Dip first appeared on The MortgagePoint. The post Buyers and Sellers Embrace Market in Wake of Mortgage Rate Dip appeared first on Appraisal Buzz. With a growth rate of 21.4%

Sellers 418

Sellers Buyers Marketing Mortgage 418

Appraisal Buzz

JANUARY 9, 2025

While home prices remain high and mortgage rates are forecasted to stay above 6% throughout 2025, the year is expected to see more inventory hit the market a silver lining for shoppers who will see more or less choice depending on where they are. 140,000 2.6 2 Rochester, NY Northeast 22.3% 129,900 2.5 3 Villas, FL South 14.1% 236,950 3.4

Buyers 368

Buyers Investing Inventory Marketing 368

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.

Buyers 447

Buyers Real Estate Mortgage Brokerage 447

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

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.

Buyers 426

Buyers Real Estate Agent Inspection Real Estate 426

Housing Wire

JANUARY 8, 2025

Heading into the 2025 housing market, we havent had this many homeowners with mortgage rates over 6% since 2016. of outstanding mortgages, around 8.7 million borrowers, carry a mortgage with an interest rate over 6%. had these cheap mortgages. People with expensive mortgages are more likely to sell their house.

Mortgage 468

Mortgage Inventory Finance Sellers 468

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

AUGUST 26, 2024

“The overall market remains sluggish, but we are beginning to see first-time homebuyers come off the sidelines, buoyed by falling mortgage rates and an increased number of homes hitting the market,” Redfin senior economist Sheharyar Bokhari said in a statement. We are seeing a lot of younger buyers looking at smaller starter homes.

Buyers 430

Buyers Inventory Marketing Contracts 430

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

Appraisal Buzz

OCTOBER 29, 2024

The statements were made during the Annual Convention of the Mortgage Bankers Association (MBA), which was held in Denver from October 27 to 30. “We The post Freddie Mac Enhances Product Selection With an Emphasis on First-Time Buyers first appeared on The MortgagePoint.

Buyers 395

Buyers Appraisal Loan Officers Sellers 395

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

NOVEMBER 11, 2024

Zillow is moving full speed ahead with an ambitious expansion of its mortgage business, leveraging its housing tech innovations to potentially reshape how modern homebuyers finance homes. billion in purchase mortgage business, not far off a top 50 spot on the mortgage leaderboard. That’s an annualized $3.2 Not even close.

Business 437

Business Mortgage Loan Officers Agents 437

Housing Wire

JANUARY 9, 2025

But survey data released Thursday by Bright MLS found that some standards were top priorities for some buyers. According to the survey, more than half of prospective buyers ranked the condition of the home as the most important factor in their home search. More specifically, 56.1% More specifically, 56.1% Another 37.8%

Buyers 371

Buyers Renovations Housing Market Home Improvement 371

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

OCTOBER 25, 2024

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. Department of Veterans Affairs (VA) would be disadvantaged.

Buyers 388

Buyers Real Estate Realtors Agents 388

Appraisal Buzz

NOVEMBER 26, 2024

As 2025 draws near, mortgage rates are once again in the news. Zillow anticipates a more active housing market with more buyers obtaining the upper hand in 2025. More inventory should shake loose in 2025, giving buyers a bit more room to breathe.” This means that buyers have the upper hand in negotiations.

Housing Market 396

Housing Market Tenants Marketing Mortgage 396

Housing Wire

SEPTEMBER 3, 2024

With the calendar shifting to September and the next meeting of Federal Reserve policymakers only two weeks out, mortgage rates continue to recede and evidence suggests that borrowers are reacting to more favorable housing market conditions. Lower rates have recently sparked more activity in the mortgage market. year over year.

Mortgage 461

Mortgage Inventory Buyers Sellers 461

Housing Wire

SEPTEMBER 15, 2024

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. Purchase application data First, purchase apps is the fastest way to look for positive or negative data at higher or lower mortgage rates. That’s ok — very few people are looking at the data without an agenda.

Mortgage 517

Mortgage Inventory New Listings Retail 517

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

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

SEPTEMBER 11, 2024

home in June 2022, you probably locked in about $1,400 a month in mortgage payments. Due largely to higher mortgage rates , that same home today would cost about $2,175 a month. Mortgage payments are only part of the affordability challenge. Mortgage rates peaked in May 2024 and have slid over 100 basis points since then.

Mortgage 422

Mortgage Insurance Inventory Buyers 422

Housing Wire

AUGUST 4, 2024

Mortgage rates moved massively lower last week without any Federal Reserve rate cuts, primarily because the labor market is getting softer. Can mortgage rates go even lower? We don’t have that variable this year and spreads have improved earlier than I thought, which has helped mortgage pricing.

Mortgage 498

Mortgage Inventory New Listings Housing Market 498

Housing Wire

OCTOBER 16, 2024

Mortgage applications decreased 17% from one week earlier as mortgage rates surged, according to data from the Mortgage Bankers Association ’s (MBA) weekly application survey for the week ending October 11, 2024. Demand is holding up to an extent for prospective first-time buyers.

Mortgage 465

Mortgage Inventory Buyers Marketing 465

Appraisal Buzz

DECEMBER 20, 2024

Receiving family assistance for mortgage payments is also more common among homeowners who have children living with them. Compared to 8% of homeowners without children, one in six (17%) homeowners with children say their family provides financial assistance to help them pay their mortgage.

Buyers 392

Buyers Agents Mortgage Clients 392

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. Will potential homebuyers jump at newly cheaper payments?

Mortgage 473

Mortgage Inventory New Listings Contracts 473

Housing Wire

AUGUST 2, 2024

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. This generally matches up with data from Mortgage News Daily , which looks at marketed rates for strong credit profiles. Is it right for the client?”

Mortgage 513

Mortgage Clients Loan Officers Lending 513

Housing Wire

NOVEMBER 1, 2024

With mortgage rates moving closer to 7% once again, recent homebuyers are finding creative ways to lock in lower rates. A survey from Zillow conducted between March and September of this year found that 45% of recent buyers — half of whom bought a home in the past year and the other half in the past two years — secured rates below 5%.

Mortgage 321

Mortgage Finance Buyers Loan Officers 321

Housing Wire

OCTOBER 16, 2024

About a week after the Federal Reserve lowered benchmark interest rates for the first time since the start of the COVID-19 pandemic, mortgage rates reached their low point for 2024. According to HousingWire’s Mortgage Rates Center, the average 30-year conforming rate bottomed out at 6.24% on Sept. consumers or the housing industry.

Mortgage 467

Mortgage Buyers Government Tools 467

Housing Wire

OCTOBER 17, 2024

economy appears to be on firmer footing than previously thought, mortgage rates are forecast to end 2024 at 6% and home-price growth is also on the move. “This represents upside risk to the ESR Group’s latest mortgage rate forecast, which now sees the 30-year mortgage rate ending the year at 6.0%, down from last month’s 6.2%

Sellers 510

Sellers Mortgage Buyers Business 510

Appraisal Buzz

OCTOBER 8, 2024

Mortgage rates climbed in 44 U.S. According to a new analysis from WalletHub , mortgage interest rates increased in all but six states from the first quarter to the second quarter of this year. The national average rate on a 30-year mortgage peaked at 7.22% in May 2024. Despite this jump, Colorado’s average mortgage rate of 5.7%

Mortgage 435

Mortgage Housing Market Buyers Marketing 435

Housing Wire

OCTOBER 23, 2024

Stubbornly high rates have hindered mortgage demand , but at least it’s better than it was a year ago. Mortgage applications decreased 6.7% from one week earlier, according to data from the Mortgage Bankers Association ’s (MBA) weekly applications survey for the week ending Oct. Refinances comprised 45.7% a week earlier.

Mortgage 409

Mortgage Inventory Buyers Marketing 409

Housing Wire

OCTOBER 24, 2024

Fast-growing mortgage servicing platform Valon has secured $100 million in a Series C funding round, the company announced this week. It is utilizing a cross-selling strategy that offers additional products to its existing customers in an evolving mortgage landscape.

Mortgage 393

Mortgage Real Estate Agent Technology Real Estate 393

Appraisal Buzz

DECEMBER 9, 2024

Applications for mortgage purchases are at their highest level since late January, rising 17% month-over-month. Despite high property prices and mortgage rates, there are a few reasons why homebuyers are emerging from the sidelines and easing their way into the market. The four weeks ending December 1 saw an estimated 6.5%

Buyers 370

Buyers Marketing New Listings Agents 370

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

Housing Wire

JANUARY 8, 2025

As mortgage rates continue to climb past the 7% mark, applications continued to take a step back following the New Year’s Day holiday. from the week prior, the Mortgage Bankers Association (MBA) reported in its weekly mortgage applications survey for the week ending Jan. Demand decreased by 3.7% the previous week.

Mortgage 368

Mortgage Government Buyers Marketing 368

Housing Wire

AUGUST 2, 2024

Construction employment showed a small gain, as builders continue to work to add to housing supply given the ongoing shortage,” Mike Fratantoni, the Mortgage Bankers Association’s chief economist, said in a statement. Overall, for the past year, the construction sector has added an average of 19,000 jobs per month.

Marketing 487

Marketing Mortgage Construction Transportation 487