Housing Wire

NOVEMBER 3, 2023

October job gains significantly cooled compared to September, falling back under the average monthly gain of 258,000 over the prior 12 months. Meanwhile, the unemployment rate rose slightly to 3.9%, aligning with the Fed’s projection for 2023 of 3.8%. As a result, she expects home sales to fall off during the fourth quarter.

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Housing Wire

JUNE 11, 2023

After seeing disappointing inventory growth two weeks ago , which I chalked up to the Memorial Day holiday, I was hoping for a big push in active listings last week, but that didn’t happen. And, the recent uptick in mortgage rates to almost 7% slowed purchase application data again. First, it took the longest time in U.S.

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Housing Wire

SEPTEMBER 30, 2023

Why are mortgage rates rising? We have had back-to-back weeks of the bond market getting wild since the key 10-year yield level of 4.34% broke higher. ” My answer: “Stop talking about raising rate at this stage with a hawkish outlook! Before last week the high for mortgage rates this year was 7.49%.

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Housing Wire

APRIL 3, 2023

Housing demand grew and inventory levels fell again while mortgage rates rose. Here’s a quick rundown of the last week: The 10-year yield battle continues as bond yields rose early in the week only to close below 3.50% on Friday. Mortgage rates rose to 6.57%.

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Housing Wire

APRIL 30, 2023

The spring housing market music is playing, and purchase application data and active listing inventory rose together last week. The other focus should be where mortgage rates go; only a little happened last week. The fear of not having an increase in inventory this spring should be put to rest.

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Housing Wire

OCTOBER 16, 2023

The trough for the mortgage origination market is nearing an end point and 2024 is shaping up to be a better year for the industry, economists of the the Mortgage Bankers Association (MBA) said at the 2023 Annual Convention & Expo in Philadelphia, Pennsylvania. at the end of 2025 as Treasury rates decline and as the spread narrows.

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Housing Wire

MAY 2, 2024

The housing market has been on a topsy-turvy roller-coaster ride in recent years that has been particularly neck wrenching since this past fall, fueled by stubbornly high inflation and a still-strong jobs market. at the end of April, according to HousingWire ’s Mortgage Rates Center. They crested near 7.6%

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Housing Wire

AUGUST 3, 2023

Mortgage rates continued to inch towards 7% this week as the 10-year treasury yields climbed past the 4% threshold. economy after Fitch Ratings downgraded the U.S.′ long-term, foreign currency issuer default rating from AAA to AA+ on Tuesday. Investors assessed the state of the U.S.

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Housing Wire

OCTOBER 21, 2021

The average 30-year-fixed rate mortgage climbed to 3.09% during the week ending Oct. 21, rising from 3.05% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.80%. Most economists believe they’ll continue to climb.

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Housing Wire

DECEMBER 14, 2022

On the heels of the central bank’s announcement to raise the federal funds rate by 50 basis points to 4.25%-4.50% on Wednesday, most economists and industry experts were on the same page about the housing outlook and which direction mortgage rates would be headed. . Central bankers now expect unemployment to rise to 4.4%

Mortgages 414

Mortgages Residential Principal Lending 414

Housing Wire

JULY 27, 2023

Mortgage rates rose slightly this week ahead of the Federal Reserve Open Markets Committee ‘s rate hike. The 25-basis point increase to the federal funds rate was widely anticipated and priced in by capital markets. By contrast, the 30-year fixed-rate mortgage was at 5.30% a year ago at this time.

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Housing Wire

APRIL 3, 2023

Declining mortgage rates could have improved affordability for buyers in the housing market in February, but instead spurred a demand that, combined with a persistent lack of inventory across the U.S., “In many areas of the country, that dynamic – low inventory and a modest rise in demand – led to an uptick in home prices.”

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Housing Wire

DECEMBER 22, 2023

Last year, fast-rising rates and related volatility, coupled with liquidity challenges in the bank and nonbank sectors, high home prices and a shortage of housing inventory all worked together to suppress mortgage originations and the secondary market outlets for those loans as well.

Mortgages 429

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Housing Wire

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. The run-up in home prices was driven by rock-bottom mortgage rates and pandemic-fueled demand.

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Housing Wire

JULY 20, 2022

The savagely unhealthy housing market is continuing as we get closer to August. But, there is one bright spot — inventory is rising. According to NAR, existing-home sales declined for the fifth straight month to a seasonally adjusted annual rate of 5.12 The one positive: Inventory is rising. This means 4%+ mortgage rates.

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Housing Wire

MARCH 2, 2023

Temperatures are rising, the sun is setting later, and the daffodils are starting to peek their green leaves out of the earth — spring is coming. According to Mike Simonsen, the president of Altos Research , to see housing inventory fall throughout February, as it has this year, is pretty unusual.

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Housing Wire

MARCH 29, 2023

Homeowners collectively nationwide now have more than $10 trillion in tappable equity (equity beyond a 20% cushion) tied up in their properties, according to the Black Knight Mortgage Monitor. Eight of those securitization deals have gone to market since 2022, including three so far in 2023.

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Housing Wire

JUNE 14, 2023

The Federal Reserve (Fed) maintained the federal funds rate in the 5% to 5.25% range on Wednesday, following 10 consecutive hikes that brought rates to a level never seen since 2007. The Fed imposed its fastest series of rate increases since the 1980s, but it wants to avoid over-tightening and causing a significant recession.

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Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. to 4.75% range, up from 0.25% a year ago.

Marketing 379

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Housing Wire

MARCH 19, 2023

Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? So, we can now add a new variable into the equation for 2023: What does a banking crisis mean for mortgage rates?

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Housing Wire

MAY 5, 2022

At the end of this series, you can join us on May 10 for a Housing Market Update webinar. And these low vacancies have caused rental rates to accelerate at an unprecedented pace, with asking prices soaring 17% year-over-year according to RealPage , making homeownership more economical in many markets across the country.

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Housing Wire

JANUARY 24, 2022

A total of 10 private-label deals valued at nearly $5.4 billion hit the market in the first two weeks of 2022, HousingWire reported last week , but that’s already old news. Since then, another nine private-label residential mortgage-backed securities (RMBS) offerings valued at $4.6 billion have unfolded.

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Housing Wire

JUNE 15, 2022

The Federal Reserve (Fed) on Wednesday did something it hadn’t done in more than two decades: it raised the federal funds rate by 75 basis points, to 1.50-1.75%, in May for the highest mark in more than 40 years, has potential to increase the cost of mortgage borrowing. Interest rates are expected to hit 3.4% by the end of 2023.

Mortgages 370

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Housing Wire

MAY 17, 2023

Transactions in the fix and flip market have been booming in recent years, with more than 407,000 homes flipped in 2022, up 14% over 2021 and up 58% over 2020, according to a recent report by real estate data firm ATTOM. How long that can continue is hard to say.”

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Housing Wire

OCTOBER 21, 2020

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. Yes, it’s come down to 10 million, but look at how that compares again to the peak in 2009 of 6.6 million,” he said. “Yes,

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Housing Wire

NOVEMBER 1, 2021

24, according to the latest report from the Mortgage Bankers Association (MBA). In the previous week , the rate dropped seven basis points to 2.21%. 24, 73% of the first-mortgage servicing market. The share of independent mortgage bank loans in forbearance fell six basis points to 2.43%. The survey included data on 36.7

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Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgages 393

Mortgages Equity Loans Seller concession 393

Housing Wire

MAY 4, 2022

The Federal Reserve Wednesday approved a 50 basis point increase to its policy interest rate in an effort to reduce inflation, in conjunction with a plan to shrink its $9 trillion asset portfolio beginning next month, according to Chairman Jerome Powell. ” Fratantoni said MBA expects mortgage rates will plateau near current levels.

Mortgages 393

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Housing Wire

APRIL 14, 2022

What happens when the Federal Reserve begins pulling back in a serious way from the mortgage-backed securities (MBS) market that it has helped to prop up through billions of dollars in bond purchases since the start of the pandemic in 2020 — to the point where it now holds a $2.7 trillion agency MBS portfolio?

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Housing Wire

JULY 29, 2022

Table 1, below, reports the 10 hottest U.S. metropolitan areas in February 2022, based on year-over-year growth in median listing price according to the residential real estate listing website, Realtor.com. Table 1: 10 Hottest Housing Markets out of the Top 250 Metro Areas, February 2022. Bellingham, WA 51.7% -8.3%

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Housing Wire

NOVEMBER 3, 2022

One mortgage M&A expert believes that of the 130 or so IMBs that did $1 billion to $2 billion for production in 2021, 17% of them will not even be able to do $500 million over the 12 months ending June 30, 2023. We’re seeing a lot of that this year, and it will certainly continue in 2023. trillion in 2021.

Banks 393

Banks Mortgages Loans Equity 393

Housing Wire

MARCH 17, 2022

The rate volatility created by fast-rising inflation, now approaching 8% annualized , and the opposing flight to quality sparked by the war in Ukraine, is complicating an already challenging execution environment in the private-label securities market. And three more hikes are planned for 2023.).

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RIS Media

JANUARY 27, 2022

Homebuyers are kicking-off 2022 ready to compete, according to realtor.com’s Weekly Data Report , which shows listing prices continue to rise at a double-digit pace and time-on-market remains historically low. over last year, making the sixth straight week of double-digit gains and the highest annual growth rate since July 2021.

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RIS Media

MARCH 14, 2022

With a continuing whirlwind market expected in 2022, it can be hard for sellers to know the optimal time to put a home on the market. But according to Realtor.com’s fourth annual Best Time to Sell Report, the best week to list nationwide this year is April 10-16. more interest than the average home listed in 2018-2021.

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Zillow Market Reports

NOVEMBER 13, 2023

Mortgage rates that ascended to 23-year highs in October didn’t have as big an impact on housing demand as might be expected. A mortgage rate hike to just below 8% brought monthly mortgage payments up by 4% from September to October. Home values are falling in most of the U.S. decline in September to a 0.3%

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Marco Santarelli

JULY 27, 2022

macroeconomics specialists at the beginning of June 2022. National Bureau of Economic Research (NBER) defines a recession as a severe fall in economic activity spanning two fiscal quarters. National Bureau of Economic Research (NBER) defines a recession as a severe fall in economic activity spanning two fiscal quarters.

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Broke Agent Media

FEBRUARY 14, 2023

BAM Key Details: As mortgage rates fall from their 2022 peaks and home prices come down from theirs, more sellers are returning to the market to meet increasing buyer demand. While mortgage costs nearly doubled in 2022 compared to before the pandemic, they’ve eased slightly in recent months.

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