Housing Wire

FEBRUARY 29, 2024

Mortgage rates continued to trend up this week and dampen homebuyer momentum. The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week ’s figure of 6.90%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 441

Mortgages Fixed-rate mortgage New Construction Construction 441

Housing Wire

NOVEMBER 22, 2023

Mortgage rates dropped significantly in the last few weeks, but the cost of borrowing remains high prompting many homebuyers to wait for even lower rates. The 30-year, fixed mortgage rate averaged 7.29% for the week ending Nov. 22, according to Freddie Mac ‘s Primary Mortgage Market Survey.

Mortgages 439

Mortgages New Construction Construction Sales 439

Housing Wire

OCTOBER 26, 2023

Pending home sales ticked up 1.1% NAR’s Pending Home Sales Index rose to a reading of 72.6 Pending homes sales mirrored the trend in new home sales , which posted a 12.3% Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.” in September. increase in September.

Sales 367

Sales New Construction Mortgages Construction 367

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). ” According to Yun’s forecast, mortgage rates will fall to between 6% and 7% by spring 2024.

Sales 450

Sales New Construction Staging Mortgages 450

Housing Wire

FEBRUARY 13, 2024

Despite high mortgage rates , master planned communities (MPCs) did well in 2023. According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022.

Sales 423

Sales Principal Staging Construction 423

Housing Wire

JANUARY 3, 2023

Pending home sales fell for the sixth consecutive month in November, recording a 4.0% Falling home sales and construction have hurt broader economic activity.”. Year over year, the Pending Home Sales Index was down 37.8%, marking the 18 th consecutive month of annual declines.

Sales 486

Sales Construction Mortgages Marketing 486

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

Fixed-rate mortgage 527

Fixed-rate mortgage Mortgages New Construction Construction 527

Housing Wire

MARCH 20, 2024

The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement. Also recognized by the PROGRESS in Lending Association was Mortgage Cadence , which was lauded for its technology innovation.

Lending 333

Lending Mortgages Technology Banks 333

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. But after concerns were brought to the attention of policymakers during the proposal’s comment period, the U.S.

Mortgages 325

Mortgages Closing costs Equity Construction 325

Housing Wire

APRIL 24, 2023

Housing demand and home prices have proved to be more resilient than expected in the first quarter of the year, but home sales will remain subdued largely due to the rate lock-in effect , according to Fannie Mae ‘s forecast. Still, Fannie Mae expects new home sales to hold up comparatively well relative to existing homes.

Sales 361

Sales Banks Construction Lending 361

Housing Wire

JANUARY 3, 2024

Mortgage demand fell over the holidays despite declining mortgage rates. Mortgage applications decreased 9.4% 29 compared to two weeks earlier, according to data from the Mortgage Bankers Association (MBA). for the week ending Dec. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5%

Mortgages 345

Mortgages VA loan FHA loan Loans 345

Housing Wire

APRIL 27, 2023

For the first time since November 2022, pending home sales fell in March, posting a 5.2% The monthly drop resulted in the Pending Home Sales Index recording a reading of 78.9, The lack of housing inventory is a major constraint to rising sales,” Lawrence Yun , NAR’s chief economist, said in a statement. year over year.

Sales 398

Sales New Construction Construction Mortgages 398

Housing Wire

AUGUST 28, 2023

Retail lender Guild Mortgage announced Monday the acquisition of First Centennial Mortgage, a privately-held Illinois-based lender with 15 branches predominantly in the Midwest and a presence in 17 states. Guild has been acquiring lenders to expand in local markets in a purchase mortgage-focused environment.

Mortgages 352

Mortgages Loan Officer Construction Loans 352

Housing Wire

JULY 8, 2022

The construction sector, meanwhile, had only a slight gain, according to the U.S. But employment showed little change over the month in other major industries, including construction, retail trade, financial activities, government and other services. Job growth in the U.S. jobs report , released Friday. in June 2021. in May to $32.25

Construction 349

Construction Industrial Residential Mortgages 349

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. It’s the largest acquisition to date for retail lender Guild, which has closed six deals since 2021, including last year’s purchases of Legacy Mortgage , Cherry Creek Mortgage and First Centennial Mortgage. The combined enterprises would represent 1.3%

Mortgages 401

Mortgages Loan Officer Loans Closing 401

Housing Wire

JULY 6, 2023

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 6, up significantly from last week ’s 6.71%.

Mortgages 378

Mortgages Construction New Construction Investor 378

Housing Wire

JULY 27, 2023

After dropping slightly month over month in May , pending home sales ticked back up in June, rising 0.3%, according to data released Thursday by the National Association of Realtors (NAR). It contrasts with new home sales , which moderated in the same period (-2.5%). The NAR’s Pending Home Sales Index climbed to a reading of 76.8

Sales 349

Sales Construction Mortgages Closing 349

Housing Wire

APRIL 5, 2024

As a result, mortgage rates are likely going to stay elevated for longer.” Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. In March, employment continued to trend up in construction, adding 39,000 jobs month over month. month over month to $34.69 and were up 4.1%

Industrial 276

Industrial Mortgages Construction MLS 276

Housing Wire

APRIL 20, 2023

monthly increase in February , breaking a year long streak of declines, existing home sales were back down again in March, according to a report from the National Association of Realtors (NAR), released Thursday. Existing home sales dropped 2.4% On a year-over-year basis, sales were down 22%. After posting a surprising 14.5%

Sales 354

Sales Mortgages Construction Finance 354

Housing Wire

FEBRUARY 27, 2023

January’s pending home sales picked up right where they left off in 2022, posting the second consecutive month of increases, according to data released Monday by the National Association of Realtors (NAR). month-over-month increase in December , the Pending Home Sales Index rose 8.1% After posting a 2.5% After posting a 2.5%

Sales 403

Sales Fixed-rate mortgage MLS Mortgages 403

Housing Wire

JULY 18, 2023

The NAHB/HMI report is based on a monthly survey of NAHB members, in which homebuilders are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. This is the index’s highest reading since June 2022.

Sales 333

Sales Construction New Construction Finance 333

Housing Wire

SEPTEMBER 7, 2023

A slight cooling in mortgage rates wasn’t enough to keep mortgage applications from sinking to a 28-year low. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.12% as of Sept. 7, down from last week ’s 7.18%.

Mortgages 411

Mortgages Fixed-rate mortgage Marketing MLS 411

Housing Wire

JUNE 29, 2023

Mortgage rates little changed this week as investors assessed Federal Reserve Chairman Jerome Powell ’s latest comments on rate hikes. Other mortgage indexes also show rates slightly rising. The 30-year fixed rate for conventional loans was 6.91% at Mortgage News Daily on Thursday morning, up one basis points from the previous week.

Mortgages 343

Mortgages New Construction Investor Construction 343

Housing Wire

MARCH 25, 2021

The broader economy showed signs of recovery last week, pushing the average mortgage rate for a 30-year fixed loan up eight basis points to 3.17%, according to Freddie Mac ’s Primary Mortgage Market Survey. Sales of existing homes fell 6.6% New home sales, which are more likely to be affected by rising rates, plummeted 18.2%

Mortgages 541

Mortgages Construction Sales Loans 541

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. Where are mortgage rates headed? in second-quarter 2024.

As-is 433

As-is Industrial Mortgages Loans 433

Housing Wire

MAY 13, 2021

Mortgage applications for new homes dropped 9% in April from March, however, overall applications are still up a whopping 30.8% year over year for homebuilders, according to the latest survey report from the Mortgage Bankers Association. The MBA’s mortgage credit availability index increased in April to 128.1

Sales 439

Sales FHA loan Loans Construction 439

Housing Wire

JULY 20, 2023

Mortgage rates dropped to 6.78% this week, the biggest weekly decline since mid-March, as investors digested a raft of mixed incoming economic data. As inflation slows, mortgage rates decreased this week,” said Sam Khater, Freddie Mac ’s chief economist in a statement. By contrast, the 30-year was at 5.54% a year ago at this time. “As

Mortgages 301

Mortgages Fixed-rate mortgage New Construction Construction 301

Housing Wire

JULY 26, 2023

Despite yet another increase in homebuilder sentiment , the sales pace of new homes declined month over month in June, according to data published on Wednesday by the U.S. In June, the sales pace of new homes fell 2.5% In June, the sales pace of new homes fell 2.5% At the current sales pace this inventory represents 7.4

Sales 339

Sales New Construction Marketing Construction 339

Housing Wire

JANUARY 31, 2023

First Internet Bank is shutting down its consumer mortgage business due to a steep decline in mortgage volumes and the negative outlook for mortgage lending that is forecasted to continue for the next several years. The residential mortgage loan balance for First Internet was $383.9 million as of December 31, 2022, a 13.7%

Banks 392

Banks Mortgages Lending Commercial 392

Housing Wire

JUNE 29, 2023

After holding steady month over month in April , pending home sales were back down again in May, dropping 2.7%, according to data released Thursday by the National Association of Realtors (NAR). Year over year, pending home sales were down 22.2%, a larger decrease than the 20.3% annual drop recorded in April.

Sales 323

Sales New Construction MLS Construction 323

RIS Media

APRIL 19, 2024

In a mixed bag for housing, mortgage applications for new homes jumped in March, while new-construction sales simultaneously fell amid affordability woes, according to the Mortgage Bankers Association (MBA). Mortgage applications for new-home purchases rose 6.2%

Sales 93

Sales Mortgages New Construction Construction 93

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% We do not see new construction returning in a meaningful way any time soon. “The Existing home sales are down 19.9%

Mortgages 406

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 406

Housing Wire

SEPTEMBER 21, 2022

Existing home sales continued to fall in August, as homebuyer demand cooled further as a result of the Federal Reserve’s inflation-busting policy. The seasonally adjusted sales rate for existing homes fell 0.4% On a yearly basis, existing home sales are down 19.9%. months of supply at the current sales pace.

Sales 364

Sales Construction Mortgages As-is 364

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde, who was hired in January 2021, managed Go Mortgage’s warehouse lines, pricing, hedging and loan sales.

Mortgages 350

Mortgages Marketing Lending Construction 350

Housing Wire

OCTOBER 22, 2020

Sales of existing homes took off in September, jumping 9.4% Compared to a year ago, sales are up 20.9%. Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season,” said Lawrence Yun, NAR’s chief economist. The post Existing home sales surge 9.4%

Sales 527

Sales Construction Marketing Mortgages 527

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Mortgage rates tend to align with the 10-year U.S. “Mortgage rates should be 5.55%, not 6.5%,” he said.

Mortgages 363

Mortgages Loans Residential Equity 363

RIS Media

MARCH 19, 2024

New-home construction bounced back sharply in February due in part to slightly more favorable mortgage rates and a dearth of existing houses for sale. Housing starts rose 10.7% in February to an annual rate of 1.52 million, beating estimates of a 1.5 Housing starts rose 10.7% in February to an annual rate of 1.52

Construction 117

Construction Mortgages Sales Industrial 117