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 530

Fixed-rate mortgage Mortgages New Construction Construction 530

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% from a month prior, but down 3.6%

Sales 370

Sales New Construction Marketing Construction 370

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 370

Sales Construction New Construction Finance 370

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 421

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 421

Housing Wire

SEPTEMBER 27, 2023

Fueling this increase is new construction, according to Divounguy, even though the 1.3% A steady flow of new homes have hit the market this spring and summer, as homebuilders worked diligently to remedy the housing inventory shortage. Additionally, nearly 16% of total home sales in August were new homes.

Marketing 515

Marketing New Construction Finance Construction 515

Housing Wire

JULY 27, 2023

Mortgage rates rose slightly this week ahead of the Federal Reserve Open Markets Committee ‘s rate hike. 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 27, up from last week ’s 6.78%.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans New Construction 370

Housing Wire

MAY 30, 2023

The average rate in March on a 30-year-fixed rate mortgage in March was 6.54%, with the rate dropping to 6.34% in April. Relatedly, the Federal Housing Finance Agency (FHFA) recorded a 4.3% increase in home prices in the first quarter of 2023 from the first quarter in 2022.

Mortgages 410

Mortgages Fixed-rate mortgage Construction New Construction 410

Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. According to Lawrence Yun, chief economist and senior vice president of research at NAR , “mortgage rates are likely to be past their peak and on the way downward.” since May of this year, the 4.2

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages New Construction Loans 370

Realtor.com

JANUARY 11, 2023

Getty Images Many first-time homebuyers might presume they’re better off going used rather than new—in other words, purchasing a pre-existing property rather than pricey new construction. “Simply put, total homeownership costs are more than a monthly mortgage payment alone.” Getty Images. Getty Images.

New Construction 110

New Construction Construction VA loan Finance 110

Realty Biz

APRIL 12, 2023

Buying a new construction home involves a different process than buying an existing home, and some people wonder if they need a real estate agent at all to buy one. While you technically do not need a realtor to represent you when you buy a new construction home, there are a few reasons it would be in your best interest to do so.

New Construction 52

New Construction Construction Inspection Finance 52

Realtor.com

JANUARY 2, 2023

Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.

New Construction 105

New Construction Construction Pre-approval Inspection 105

Housing Wire

AUGUST 18, 2023

Secret #2 Sometimes, especially in a low-inventory market, your potential seller client may know about comparable sales you didn’t capture. Know what’s going on with the new construction! Have the new build salespeople explain their different mortgage plans to you. What is motivating the sale?

Pre-qualification 370

Pre-qualification New Construction MLS Construction 370

Marco Santarelli

APRIL 21, 2024

The recent surge in mortgage rates has sent shockwaves through the U.S. This development comes on the heels of a challenging period, with existing-home sales plummeting to a near-30-year low in 2023 due to escalating costs. housing market , marking a pivotal moment for homeowners and prospective buyers alike.

Mortgages 105

Mortgages Marketing New Construction Land 105

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory. 2022 to Dec.

Debt-to-income ratio 421

Debt-to-income ratio Loans FHA loan Fixed-rate mortgage 421

Housing Wire

AUGUST 3, 2023

Rocket Companies , the parent of Rocket Mortgage , returned to profitability in the second quarter of 2023 driven by an increase in the purchase mortgage market share and expense cuts in business lines that aren’t profitable. billion of mortgage servicing rights. So that’s the good news. billion from $8.1

Loans 370

Loans Mortgages Loan Officer Principal 370

Norada Real Estate

JANUARY 27, 2023

When it comes to investing in residential real estate, there are only two basic types of property you can invest in – new construction and resale. New construction properties are those that are purchased directly from the builder or developer who constructed the property. In short, they are considered brand new.

New Construction 52

New Construction Construction Probate sale Investor 52

Realtor.com

NOVEMBER 7, 2022

. “You will find these incentives explained on websites, social media, signs, and other places a builder might advertise to the public,” explains Kimberly Mackey , founder of New Homes Solutions and a sales and marketing management consultant specializing in residential homebuilding.

New Construction 76

New Construction Construction Finance Closing costs 76

Housing Wire

FEBRUARY 1, 2023

Rob Nunziata , co-CEO and co-founder of Florida-based FBC Mortgage , says one mortgage sweetener that holds out some promise for making houses more affordable for a broader swath of borrowers is the temporary rate buydown. “It Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range].

Marketing 410

Marketing FHA loan Loans Mortgages 410

Housing Wire

FEBRUARY 8, 2024

To begin with, his reputation for excellence is ironclad: over a decade of experience as a real estate broker and over $300,000,000 in total sales. In 2024, Tate received Coldwell Banker’s International President’s Premier Award representing the company’s top 1% of all sales professionals.

Agents 410

Agents Construction Design Sales 410

Realty Biz

JULY 23, 2021

Existing home sales rose by 1.4% million units, following four months of declining sales. The sales numbers are based on transactions closed in the month, so they could be contracts signed in April or May, the National Association of Realtors reported. Sales are still up massively on an annual basis. month supply.

Sales 104

Sales Purchase and sale agreement Investor New Construction 104

Housing Wire

SEPTEMBER 14, 2023

Demand for newly constructed homes continues to remain high as existing for-sale inventory remains historically low. Mortgage applications for new home purchases increased 20.6% MBA’s survey tracks application volume from mortgage subsidiaries of homebuilders across the country. of loan applications.

New Construction 397

New Construction Construction Mortgages VA loan 397

Housing Wire

MARCH 25, 2024

New-home sales receded slightly in February but continued to track above last year’s pace, reaching a seasonally adjusted annual rate of 662,000 last month, according to data published Monday by the U.S. decrease from the revised January rate of 664,000 sales, it also marks a 5.9% At the current sales pace, there is an 8.4-month

Sales 465

Sales New Construction Construction MLS 465

Realtor.com

DECEMBER 20, 2022

Then, quite suddenly, the market seemed to seize up and prices and sales began falling. ” But it was likely rising mortgage interest rates, a result of the Fed hiking its own rates to bring down inflation, that most directly led to the real estate freeze. .” through November as mortgage rates have risen.

Marketing 113

Marketing Construction Investor New Construction 113

Real Trends

AUGUST 18, 2023

Secret #2 Sometimes, especially in a low-inventory market, your potential seller client may know about comparable sales you didn’t capture. Private sales, for sale by owner and other sales not found in your MLS could be really good comparable homes, so ask good questions and don’t just assume your seller is overpriced.

Pre-qualification 88

Pre-qualification New Construction MLS Construction 88

Housing Wire

OCTOBER 25, 2023

New home sales figures exceeded projections in September despite mortgage rates at 23-year high, declining mortgage applications and waning builder confidence. In September, the sales pace of new homes picked up considerably, up 12.3% On a year-over-year basis, new home sales were up 33.9%.

Sales 421

Sales New Construction Construction Finance 421

Housing Wire

JULY 20, 2023

Build a home instead of chasing after the scarce resale inventory 30% of available homes are new construction, so there are several advantages to this option. First, many builders are buying down interest rates using their in-house financing. Next, the house is new. Builders are closing loans in the 4.5 range currently!

Equity 285

Equity MLS Construction Agents 285

The Residential Specialist

FEBRUARY 27, 2024

New construction is always seen as much more expensive. So, I took it upon myself to learn more about it and found that a new build may be expensive up front, but when we look at the one-, five- or 20-year projections, and after considering the new technology and energy efficiencies that builders add, it isn’t actually more expensive.”

Construction 97

Construction Inspection New Construction Residential 97

Housing Wire

NOVEMBER 27, 2023

New home sales fell on a month-over-month basis in October, but continued to outpace last year’s levels. Meanwhile, low supply and high mortgage rates continued to dampen existing home sales. In October, new home sales reached a seasonally adjusted annual rate of 679,000, according to data published on Monday by the U.S.

Sales 421

Sales New Construction Construction Closing costs 421

Housing Wire

NOVEMBER 16, 2023

Mortgage demand for new homes jumped in October as the inventory for existing homes remained depleted. Mortgage applications for new-home purchases rose 39.7% We estimate that the pace of home sales increased for the third straight month to a 715,000-unit annual pace — the strongest sales month since May 2023.”

Mortgages 458

Mortgages VA loan Loans New Construction 458

Redfin

AUGUST 8, 2023

However, with rising real estate prices, some may find themselves seeking financing beyond the conforming loan limit. A jumbo loan is a specialized type of mortgage that comes into play when you’re seeking financing for a home that surpasses the conforming loan limits (CLL) established by the Federal Housing Finance Agency (FHFA).

Loans 51

Loans Debt-to-income ratio Finance New Construction 51

HomeLight

APRIL 14, 2023

That said, you can still expect to pay at least a few thousand dollars in standard taxes, services, and processing fees before being handed the keys to your new home. This is especially true if you intend to take out a mortgage. Others, such as origination fees and interest, are directly related to obtaining a mortgage.

Closing costs 91

Closing costs Closing Title Loans 91

RIS Media

MAY 19, 2021

” What do they mean and how will they affect your home sale? Despite this, there can still be room to negotiate the conditions of the sale. Not all sales will have contingencies with them, but most will. Financing or Mortgage Contingencies. The majority of homebuyers use a mortgage to finance their purchases.

Purchase and sale agreement 98

Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98

Realty Biz

SEPTEMBER 23, 2023

Understanding the mortgage process, including prequalification and pre-approval, is also essential. Buyer agents can provide valuable support in various situations, such as buying a new home or purchasing a foreclosure. Understanding the Mortgage Process When purchasing a home, understanding the mortgage approval process is essential.

Purchase and sale agreement 73

Purchase and sale agreement Pre-approval Agents Pre-qualification 73

Marco Santarelli

NOVEMBER 1, 2023

The Looming Threat of a Housing Market Crash Fears of a housing market crash are looming large, casting a shadow of uncertainty as mortgage interest rates hover near 8%. Their message highlighted a concerning fact – mortgage interest rates have surged to a 23-year high, dragging down application activity to levels last witnessed in 1996.

Marketing 52

Marketing Fixed-rate mortgage Construction Banks 52

Marco Santarelli

OCTOBER 21, 2023

In a recent analysis, Morgan Stanley has revealed that home prices could experience a significant drop of up to 5% in the coming year if mortgage rates remain at their current 8% level. The bank's strategists pointed to the recent surge in mortgage rates, with the average 30-year fixed rate reaching a two-decade high.

Lending 52

Lending Banks Mortgages New Construction 52

Redfin

JUNE 30, 2023

When it comes to purchasing a home, buyers may find it difficult to find financing beyond the conforming loan limit. Whether your sights are set on a Ranch-style home in Tulsa or a new-construction in Yukon , let’s break down what a jumbo loan is in Oklahoma, the 2023 conforming loan limits, and what’s needed to qualify for this type of loan.

Debt-to-income ratio 49

Debt-to-income ratio Loans Finance New Construction 49

HomeLight

APRIL 13, 2023

Others, such as origination fees, are directly related to obtaining a mortgage. 1.36% of the home’s final sale price in Nebraska, with an average of 1.32%. Sellers typically pay: 8%-10% of the home’s final sale price. An attorney is not required for real estate sales in Nebraska. for every $1,000 of the sales price.

Closing costs 74

Closing costs Closing Title Title search 74