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. The refinance index decreased 26% from the previous week and was 111% higher than the same week one year ago.

Mortgage 520

Mortgage Inventory Buyers Marketing 520

Housing Wire

SEPTEMBER 1, 2024

Have we seen the peak in housing inventory for 2024? The best part about 2024 has been that higher mortgage rates have created an inventory buffer, so if the economy gets softer and rates fall, we have many more homes to work with than we had in 2020-2023. Weekly inventory change (Aug.

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Inventory Mortgage New Listings Housing Market 538

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 390

Mortgage Contracts Government Inventory 390

Housing Wire

DECEMBER 11, 2024

Mortgage applications increased 5.4% 6, stemming from a 27% jump in refinance activity, according to a report released Wednesday by the Mortgage Bankers Association (MBA). This is the latest weekly increase in mortgage applications, following a trend of steady demand increases over the past several weeks. share a week prior.

Mortgage 397

Mortgage Contracts Government Inventory 397

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. The elephant in the room is affordability.

Housing Market 543

Housing Market Marketing New Listings Inventory 543

Appraisal Buzz

OCTOBER 11, 2024

Department of Housing & Urban Development (HUD) will co-host the “Mortgage Market Resilience and Access to Credit Summit” on Tuesday, October 15 at HUD’s headquarters. Independent mortgage banks play a key role in making this a reality, and this summit will shine a spotlight on their essential contributions to our housing market.”

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Marketing Mortgage Finance Retail 370

Housing Wire

OCTOBER 28, 2024

We track inventory and home sales very closely, so the biggest surprise this year has been the resiliency of home prices. 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. They have not.

Inventory 475

Inventory New Listings Sellers Contracts 475

Housing Wire

APRIL 20, 2024

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. This is something I talked about last week on Yahoo Finance. This is something I talked about last week on Yahoo Finance. This sent the 10-year yield and mortgage rates higher.

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Inventory New Listings Mortgage Finance 514

Housing Wire

MAY 8, 2024

Housing credit channels directly impact housing inventory channels. Home prices escalated out of control after 2020 and when we look at why that happened, we can see that housing credit mattered more to inventory data than most people realize. This matters because inventory was already heading toward all-time lows before COVID-19.

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Inventory New Listings Law Sellers 518

Housing Wire

NOVEMBER 21, 2024

After tumbling over the past few months, existing-home sales are giving real estate and mortgage professionals a reason to smile. The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,” NAR chief economist Lawrence Yun said in a statement. Inventory was up 19.1%

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Inventory Home Improvement Realtors Real Estate 370

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. Inventory fell There are 635,000 single-family homes unsold on the market now. Inventory falls quickly over the holidays, so this week has 2.4%

Inventory 448

Inventory New Listings Contracts Sellers 448

Housing Wire

JANUARY 13, 2025

It seems more sellers are coming out every week and that will keep inventory pushing upward. Mortgage rates pushed this week close to 7.25%. Its only two weeks into January and mortgage rates have hit the high end of the range we forecasted for the entire year. This week inventory dipped though, so well see what happens next.

Sellers 418

Sellers Inventory New Listings Contracts 418

Housing Wire

AUGUST 26, 2024

Unsold inventory in the two biggest housing markets in the country, Texas and Florida, declined this week. Inventory seems to have peaked for the season and is slowly inching down. First, mortgage rates are falling, whereas last year they were rising. Inventory growth is slowing as mortgage rates fall.

Inventory 468

Inventory Marketing Sellers New Listings 468

Housing Wire

NOVEMBER 4, 2024

As high mortgage rates reshape the housing market, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. The available inventory of existing homes rose by 22% year over year in Q3 2034. New construction inventory has grown in recent months. year over year in September.

Marketing 370

Marketing Inventory Construction Realtors 370

Housing Wire

MARCH 11, 2024

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The only way inventory would grow in 2024 is if mortgage rates climbed.

Inventory 516

Inventory Sellers New Listings Real Estate 516

Housing Wire

NOVEMBER 4, 2024

Last year was weak as mortgage rates were hitting 8%. Inventory is past peak for the year, so the momentum looks to keep the trends in a positive direction for now. Inventory drops again There are 736,000 single-family homes unsold on the market in the U.S. The inventory peak came a month earlier than in 2023.

Inventory 393

Inventory New Listings Sellers Contracts 393

Housing Wire

DECEMBER 9, 2024

We know inventory has been climbing all year. The MBAs mortgage applications data has been surprisingly strong. The northern cities have tight inventory and rising prices, some of the Sunbelt cities have the most inventory in many years, and some markets even have falling prices, too. When demand slows, inventory grows.

Housing Market 418

Housing Market Marketing Inventory Sellers 418

Housing Wire

AUGUST 19, 2024

Unsold inventory of homes for sale has been on the rise all year. It hasn’t turned the corner yet — inventory rose across the country this week — but at less than 1% rate. There are some signs that inventory growth is slowing with newly lower mortgage rates and the end of the summer. Texas inventory grew by 1.5%

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Inventory New Listings Sellers Buyers 431

Housing Wire

MAY 23, 2024

The pricing surge comes despite a marginal dip in weekly average mortgage rates , which fell from a five-month high of 7.22% to 7.02% at the beginning of May, according to Freddie Mac. The market continues to grapple with insufficient inventory , Redfin reported. The median U.S.

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Inventory Sellers New Listings Buyers 489

Housing Wire

JULY 24, 2024

Homebuilders are still getting squeezed by high mortgage rates. The drop in sales is causing a rapid rise in unsold inventory. Though new home inventory in June remained elevated at a 9.3-month Though new home inventory in June remained elevated at a 9.3-month That’s according to the U.S. That represents a decline of 7.4%

Inventory 459

Inventory Construction Realtors Marketing 459

Housing Wire

SEPTEMBER 26, 2023

However, mortgage applications for new home purchases increased 4% between July and August, the strongest pace of sales in three months. Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said.

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Inventory Buyers Construction Sellers 511

Housing Wire

FEBRUARY 6, 2025

Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% higher than it was during the 2008 market crash. Finance a loan, and you may lose money.

Mortgage 301

Mortgage Training Construction Investors 301

Appraisal Buzz

DECEMBER 30, 2024

Only your personal situation and finances should do that! Housing inventory will likely still be low in 2025, and demand could increase. Good news: Mortgage rates will likely continue going down in 2025! 1 And lets not forget that mortgage rates have already fallen quite a bit. Will Interest Rates Go Down in 2025?

Housing Market 363

Housing Market Marketing Inventory Real Estate 363

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. Weekly housing inventory data Higher rates lead to more inventory.

Mortgage 521

Mortgage Inventory New Listings Retail 521

Housing Wire

FEBRUARY 7, 2024

With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already tight inventories. Mortgage rates followed suit, walloping buyers’ purchasing power. New data from the U.S.

Inventory 459

Inventory Sellers Mortgage Marketing 459

Housing Wire

APRIL 13, 2024

Mortgage rates headed higher last week after the CPI inflation report , but now, with news of a wider war in the Middle East, should we expect even higher rates? 10-year yield and mortgage rates There is nothing good to report on mortgage rates from last week. The week ahead will answer some of those questions early on.

Inventory 504

Inventory Mortgage New Listings Retail 504

Housing Wire

MAY 1, 2024

That puts the national inventory up 31.9% Brokers and agents , mortgage officers and other housing professionals continue to compete for their share of tight volumes and would need major industry growth to get back to 2019 levels. year-over-year, extending a 24-week streak of year-over-year increases.

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Inventory Agents Marketing Mortgage 487

Appraisal Buzz

OCTOBER 18, 2024

“The housing market remains structurally underbuilt, and homeowners with locked-in low mortgage rates are keeping existing-home inventory limited. And that “lock-in” rate may continue as Freddie Mac reports that the 30-year fixed-rate mortgage (FRM) averaged 6.44% as of October 17, 2024, up from last week when it averaged 6.32%.

Construction 418

Construction Housing Market Inventory Home Value 418

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 518

Mortgage Inventory New Listings Housing Market 518

Housing Wire

NOVEMBER 4, 2024

But for first-time and other cash-strapped buyers—those who are not relying on the proceeds of a home sale, who may be using a 100% financed VA loan, whose agents may be layering forms of assistance to put together enough cash for closing—knowing in advance about the seller’s contribution to their agent costs may be essential.

Buyers 321

Buyers Sellers Agents Real Estate 321

Housing Wire

NOVEMBER 16, 2023

Elevated mortgage rates sank builder confidence again in November, but recent economic data suggests housing conditions will pick up in the coming months. On the construction side, homebuilders as well as land developers found it hard to finance projects because of high short-term interest rates.

Inventory 487

Inventory Construction Housing Market Finance 487

Housing Wire

OCTOBER 25, 2024

Agency loans have limitations such as loan amounts, only allowing up to ten financed properties and they don’t accept five to nine units. Ground-up construction growth will be high to meet the population growth and meet the demand due to limited inventory. Rehabs will be invaluable to reopen inventory.

Investors 448

Investors Construction Training Realtors 448

Housing Wire

MAY 15, 2024

This is an excerpt of a HousingWire Research report titled: What Everyone Needs to Know about Mortgage Rate Lock-in, by Altos President Mike Simonsen. housing market saw dramatic changes in affordability as mortgage rates skyrocketed 500 basis points. million in January 2021 (when mortgage rates were 2.7%) fell to 3.9

Mortgage 459

Mortgage New Listings Inventory Sellers 459

Housing Wire

MAY 6, 2024

Nationwide equity on mortgaged homes soared to a record $16.9 The recent trend of rising interest rates has dampened homebuyer demand and allowed the inventory of homes for sale to improve,” Andy Walden, ICE’s vice president of enterprise research strategy, said in a statement. homeowners with mortgages have tappable equity.

Mortgage 497

Mortgage Inventory Housing Market Government 497

Housing Wire

JULY 19, 2024

“A national secondary market for construction financing could allow lenders, like state housing finance agencies and banks, to provide the investment capital needed to get multifamily housing projects built and keys in families’ hands.” There are many policy levers that must be pulled to get there,” the report reads. “A

Construction 488

Construction Finance Development Marketing 488

Housing Wire

JUNE 10, 2024

Mortgage rate lock-in happens because even small changes in mortgage rates can make a big difference in costs. in April 2024 — with a 10% down payment, a typical mortgage would be approximately $350,000. For every 50 basis point change in mortgage rates, the monthly payment for this house would change by $112.In

Mortgage 466

Mortgage Inventory New Listings Sellers 466

Housing Wire

SEPTEMBER 29, 2023

Even with demand buoyed by a sparse housing inventory, growing financial challenges for buyers are forcing home sellers to cut prices to close deals, a new Redfin research report found. And because mortgage rates have been above 7% for about two months consecutively, the cost of financing is extreme. the month prior.

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Sellers Buyers Inventory Real Estate Agent 516