Housing Wire

SEPTEMBER 27, 2023

Years of rising prices and a prolonged period of increasing mortgage rates have made one issue top of mind for most homebuyers: affordability. Take the Zillow Home Value Index. It measures the typical home value for single-family residences, condominiums and co-ops in the 35th to 65th percentile within their region.

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Appraisal Buzz

JULY 10, 2024

VeroFORECAST evaluates home prices in over three hundred of the nation’s largest housing markets, and the company is committed to the data science of predicting home value based on rigorous analysis of the fundamentals and interrelationships of numerous economic, housing, and geographic variables pertaining to home values.

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Housing Wire

SEPTEMBER 9, 2021

The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior , mortgage rates also held steady at 2.87%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.86%.

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Appraisal Buzz

SEPTEMBER 27, 2024

Researchers for LendingTree found home values in the country’s priciest micro politan areas (“towns” for the purposes of their report) rival those in the nation’s largest metros. In Vineyard Haven, for example, the median value of a home is 10.71 The median home value in these areas is an average of only 2.95

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Housing Wire

OCTOBER 3, 2022

Home prices are now posting the biggest monthly declines since January 2009, according to the latest Mortgage Monitor report from Black Knight. Median home prices in August fell 0.98% in August, only slightly better than July’s 1.05% monthly decline. With mortgage rates at 6.7% With mortgage rates at 6.7%

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Inventory Home Value Housing Market Mortgage 529

Appraisal Buzz

SEPTEMBER 17, 2024

According to a new Zillow Home Loans analysis , monthly mortgage payments have grown less expensive than rent prices in 22 of the 50 largest U.S. Recent dips in mortgage rates, which have fallen to the lowest level since early 2023, have significantly reduced monthly payments. home value currently stands at $361,282, up 2.9%

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Appraisal Buzz

SEPTEMBER 10, 2024

With mortgage rates on the decline and housing supply ramping up, affordability is on the rise for many, Realtor.com’s latest market analysis found that much anticipated market relief is on the way, and many potential buyers are stepping off the sidelines. home value is presently $362,481, up 3.3% over the past year.

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Housing Wire

DECEMBER 13, 2023

What does this mean for mortgage rates? Mortgage rates should get better. ” Mortgage rates track the yield on 10-year U.S. When Treasury yields go down, so do mortgage rates. These cuts will allow mortgage rates to fall faster throughout 2024.

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Housing Wire

NOVEMBER 18, 2024

in October—fueled by rising housing and insurance costs—and mortgage rates having edged back above 7%, homeownership remains a distant goal for many living in the U.S. Home insurance premiums have climbed 45% from 2017 to 2022, contributing to a slowing sales market. inflation climbing to 2.6%

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Appraisal Buzz

SEPTEMBER 5, 2024

The panel’s latest estimates of national home price growth are higher than last quarter’s expectations of 4.3% Terry Loebs , Founder of Pulsenomics, said: “Despite robust home value growth in the first half of 2024, our panelists anticipate a slowdown in price appreciation for the remainder of the year and beyond. in mid-2022.

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Housing Wire

MAY 14, 2024

In addition to product development, FinLocker (a former HousingWire Tech 100 winner) plans to expand its strategic partnerships and collaborations within the mortgage ecosystem. It already has more than 40,000 registered customers. million in pre-seed funding in 2016.

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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%.

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Housing Wire

JUNE 10, 2024

The increase reflects rising home prices, which went up 40% since the beginning of the COVID-19 pandemic , mainly due to a lack of inventory, according to the study. Bankrate estimates these costs at 2% of the typical home value, which stood at $436,291 in March, according to Redfin.

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Housing Wire

JULY 6, 2022

Home price growth slowed in May, showing signs of a cooling housing market. But housing is the least affordable it has been since the mid-1980s as mortgage rates rise and home values soar, driven by low housing inventory, a new Black Knight report suggests. in May from a revised 20.4%

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Appraisal Buzz

JUNE 20, 2024

home, a buyer making the median income needs to put down nearly $127,750, or 35.4%. Just five years ago, when mortgage rates were hovering just above 4% and the typical home was worth nearly 50% less, that home would have been affordable with no money down. home , currently valued at $360,681, up 4.3%

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Appraisal Buzz

AUGUST 19, 2024

The record high in home prices—the median sale price nationally increased by 4% in June—has led to a record high in the percentage of American homes valued at $1 million or more. Even though the inventory has lately increased, many homeowners are locked in by low rates, thus it is still roughly 30% below pre-pandemic levels.

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Housing Wire

APRIL 15, 2024

Home prices are surging in major U.S. metros, with coastal California cities and Seattle leading the charge in monthly home value growth, according to Zillow’s newest market report. These metros also continue to grapple with below-average inventory recovery, maintaining pressure on buyers.

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Housing Wire

JULY 26, 2021

The Federal Housing Finance Agency house-price index rose 12% last year due to low inventories and high demand. Redfin , the popular real estate website, reports that nearly 40% of homes in the past month have sold above asking price. The roots of racial disparities in housing and mortgage markets run deep.

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Housing Wire

APRIL 17, 2023

Elevated mortgage rates are continuing to give homeowners a reason to stay at their current homes, according to the 2023 Borrower Insights Survey conducted by ICE Mortgage Technology. Of those who plan to remain in their homes, about one-third (36%) specifically cite high interest rates as the reason for staying put.

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Housing Wire

OCTOBER 25, 2024

Based on the latest readings, inflation is consistently decreasing, reacting as expected to the Federal Reserve ’s interest rate hike campaign that sent mortgage rates higher than they have been since the start of the millennia. Indeed, Atlas Merchant Capital, A&D Mortgage and Imperial fund recently announced a joint venture partnership.

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Housing Wire

NOVEMBER 22, 2023

The Western pessimism is also unsurprising given the year-over-year declines Western states have seen in home values. Builders reported covering closing costs, offering discounted or free features, helping buyers sell their existing home and providing other incentives. 2019 level. If the nation’s largest homebuilder, D.R.

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DW Slater Company

FEBRUARY 23, 2023

The past six months have been full of very drastic changes as the rapid mortgage rate increases causing many markets to begin to decline. The demand for housing decreased with the higher mortgage rates as it decreased buyer power. The biggest answer is inventory. The inventory is still at very low levels.

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Appraisal Buzz

OCTOBER 3, 2024

Following the Federal Reserve ‘s 50 basis point reduction in the jumbo rate in September, mortgage rates significant fell to a 24-month low, prompting sellers to move. The Realtor.com 2024 September Housing Report states that actively listed properties increased by 34.0%, while newly listed homes increased by 11.6% fall in August 2024.

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Appraisal Buzz

JUNE 13, 2024

Recent housing reports suggest that inventory is increasing and, as a result, home prices are starting to drop in certain areas, resulting in improved affordability. At the other end of the risk spectrum, 22 of the 50 markets considered least likely to decline in home values were in in Virginia, Wisconsin and Tennessee.

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Housing Market Marketing Home Value Inventory 366

Appraisal Buzz

NOVEMBER 15, 2024

According to a recent poll conducted by TD Bank , America’s Most Convenient Bank, two-thirds (66%) of homeowners still consider their homes to be a source of wealth for future generations, indicating that homeowners continue to perceive their houses as strong financial assets in the present market climate. To read more, click here.

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Housing Wire

SEPTEMBER 11, 2023

While credit cards and auto loans aren’t directly related to mortgages , they comprise segments within the three main consumer debt categories. Conventional wisdom would dictate that the third category, mortgages, will follow if two of the three are negatively impacted. The inventory that does make it to REO remains in high demand.

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Housing Wire

JANUARY 25, 2023

Long-term mortgage rates responded by rising from 3.25% in early 2022 to over 7.25% in October 2022, more than doubling. Mortgage interest rates The unrelenting Fed policies to combat inflation will eventually instigate an economic recession sometime in 2023. As inflation eases, so will long term mortgage rates. The overall U.S.

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Housing Wire

NOVEMBER 18, 2022

Existing home sales last month declined 5.9% That’s the largest year over year existing home sales decrease since 2007. More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher,” National Association of Realtors Chief Economist Lawrence Yun said in a statement.

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Housing Market Marketing Inventory New Listings 448

Housing Wire

FEBRUARY 6, 2023

Home prices growth and mortgage rates have come down from the peaks in 2022, but affordability still remains a challenge. For those looking to pull cash out of their homes, the cost was nearly twice that, with an average of 2.06 Purchase borrowers, who now make up 82% of new rate locks, paid an average of 1.16

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Inventory Mortgage New Listings Home Value 397

Housing Wire

OCTOBER 18, 2024

As mortgage rates fluctuate based on decreasing housing inventory volume, the appraisal market is more volatile than ever in key areas such as urban and rural communities states like California and Texas. Jaro’s automated appraisal system is designed for scale, regardless of how big or small a mortgage company or AMC is.

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Appraisal Process Appraisal Real Estate Inspection 447

Appraisal Buzz

JULY 29, 2024

The Federal Reserve has been steadily increasing rates in an effort to combat inflation, and this has directly impacted mortgage rates. Escalating Home Prices Simultaneously, home prices continue to climb, driven by a persistent supply-demand imbalance. over the past year.

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Housing Wire

SEPTEMBER 22, 2021

. “Although there was a decline in home purchases, potential buyers are out and about searching, but much more measured about their financial limits, and simply waiting for more inventory,” Yun said. Yun said that the inflated home prices have made “for an unbalanced market, but prices would normalize with more supply.”.

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Inventory Buyers Realtors Home Value 418

Housing Wire

JANUARY 16, 2024

Redfin attributes these divides to a variety of factors , the most salient of which is that over half (54%) of baby boomers who own homes have no mortgage and those who do have a mortgage have a much lower interest rate than the rate they would end up with if they sold and bought today.

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Inventory Home Value Mortgage Buyers 492

Appraisal Buzz

AUGUST 13, 2024

The national median single-family existing-home price rose 4.9% The monthly mortgage payment on a typical, existing single-family home with a 20% down payment was $2,262—up 10.3% Housing affordability continued to deteriorate in the second quarter as mortgage rates edged higher. from a year ago to $422,100.

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Buyers Mortgage Home Value Marketing 396

Inman

AUGUST 14, 2023

homes valued at $1 million or more stopped shy of a record notched last summer as high mortgage rates and low inventory drove home prices upward in June, a Redfin analysis shows. The share of U.S.

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Appraisal Buzz

JUNE 24, 2024

Even during a period when home values are typically at their lowest, many prospective first-time buyers were unable to reach their long-term financial goal of becoming homeowners in Q1, according to the Q1 2024 First-Time Home Buyer Affordability Report from Nerdwallet. The main factor influencing home prices is inventory.

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Housing Wire

DECEMBER 1, 2022

“Higher interest rates further dented home sales, which declined at a moderate pace overall but fell steeply in some Districts,” the report states, noting that “residential construction slid further at a modest pace” and “home prices grew less rapidly or declined outright amid weak demand.”. million in 2023 from 5.67 trillion from $2.34

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