Remove 2023 12 20 home-sales-up-after-5-months-of-declines
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Mortgage origination market should improve by 19% next year: MBA

Housing Wire

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. But then a rebound in 2024 — up 19%,” Fratantoni said.

Mortgages 481
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Mortgage rates are the highest they’ve been this year. Did loan officers expect this?

Housing Wire

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S. economy remains hot.

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Mortgage rates stay put this week

Housing Wire

To sum it up: a very strong labor market remains the main driver behind the Fed’s rate setting decisions and more tightening is still to come. 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 355
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With low inventory, house hunters are in full safari mode

Housing Wire

The nation’s housing industry has entered a new normal in which the dynamics of the market appear perplexing — marked by high mortgage rates and high home prices, along with shrinking mortgage originations. The perplexing part: Why are home prices not declining in this environment? That compares to a record $4.4

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How top LOs plan to beat the odds in 2023

Housing Wire

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. It’s positive news for an industry that has recently dealt with a lackluster amount of inventory.

Loans 394
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Fix and flip market struggles as financing costs rise

Housing Wire

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.”

Finance 362
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The housing market correction will be deep, and ugly

Housing Wire

trillion in 2023 will look awfully rosy. “For the longer term, what we need is supply and demand to get better aligned, so house prices go up at a more reasonable pace and people can afford houses. “Impacted by higher rates, house prices are softening, and home sales have decreased. .

Marketing 370