Housing Wire

Can we still avoid a recession?

Housing Wire

Economic reports over the Thanksgiving holiday paint a complicated picture of what’s happening, and where we are on recession watch. The big economic surprise was the strength of Black Friday sales, where consumers spent a record $9.12 billion online.

Builders apply the brakes amid canceled contracts

Housing Wire

The best way to fight inflation is to add more supply, and when I look at the housing completion data for the past two years, it just makes me want to puke. In previous expansions, builders’ housing completion data would move in line with housing starts and permits.

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Buydowns become key for buyers to beat the market

Housing Wire

It’s a terrible time for homebuyers. Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power.

Mortgage demand rose on the back of slower inflation growth

Housing Wire

Mortgage demand rose as rates dropped following the October slowdown in inflation growth numbers. However, while purchase mortgage applications increased across all loan types, refinance activity remained depressed.

Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In this webinar, Keller Williams Team Leader Trey Willard will teach you how to create a winning tech stack, and how to leverage apps for real estate success.

Mortgage buy downs on the rise as builders try to entice more buyers

Housing Wire

Homebuilder confidence continued to drop in November, hitting its lowest level since June 2012, with the exception of the onset of the COVID-19 pandemic in the spring of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday.

Here’s why new home sales are up along with prices

Housing Wire

Today new home sales beat estimates , and new home median sales prices hit an all-time high. What is going on here? My job is always to be the detective, not the troll so let’s take a look at today’s data, as there is a constant theme here that I have talked about for some time.

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JPMorgan Chase gets into the DSCR MBS game

Housing Wire

JPMorgan Chase will soon be issuing its first non-prime MBS secured exclusively by investor loans that are underwritten based on rental income. JPMorgan Mortgage Trust 2022-DSC1 is secured by 980 debt service coverage ratio (DSCR) loans with a balance of $308.2

Mortgage rates collapse on softer inflation data

Housing Wire

Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that!

Days on market grow despite low inventory for existing homes

Housing Wire

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months.

Real Estate Solutions: How to Crush Your Sales Goals and Fuel Your Pipeline

Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty

In this webinar, Mary Maloney will demonstrate a methodology that will help you create a pipeline with continuous prospects.

Homepoint offers $500 credit on appraisals for primary homes

Housing Wire

Pure wholesale lender Homepoint will provide a $500 credit on appraisal costs for borrowers buying primary homes that are designated as Fannie Mae HomePath properties, the company announced on Monday. .

Lending standards tighten due to high rates, worsening economic outlook

Housing Wire

Lending standards tightened in October, largely due to higher mortgage rates and the worsening outlook for the economy, the Mortgage Bankers Association (MBA) said. The mortgage credit availability index (MCAI) fell by 0.5% to 102.0 last month, marking eight consecutive months of decline.

Mortgage demand dropped last week despite a decline in rates

Housing Wire

Mortgage rates dropped last week, but it wasn’t enough to spur mortgage demand. The market composite index, a measure of mortgage loan application volume, declined 0.8% for the week ending November 25 after rising 2.2% from the previous week, according to the Mortgage Bankers Association.

Don’t expect a drop in home prices in 2023, NAR economist says

Housing Wire

While elevated mortgage rates, sluggish home sales and high inflation have taken a significant toll on the housing industry, it’s unlikely that these issues will cause home prices to drop next year, at least according to National Association of Realtors (NAR) Chief Economist Lawrence Yun.

The Complete Realtor: Tools to Successfully Manage Your Personal Life, Career, and Health

Speaker: Marki Lemons Ryhal, REALTOR, Keynote Speaker, 4X International Best Selling Author, and Podcaster at ReMarkiTable, LLC

In this webinar, Marki Lemons Ryhal will teach you how you can pivot and succeed as a real estate agent in the face of adversity!

Government to backstop mortgages over $1 million in 2023

Housing Wire

The Federal Housing Finance Agency (FHFA) on Tuesday announced that the baseline conforming loan limit for 2023 will be $726,200, an increase of 12.21%, or $79,000, compared to 2022. .

BEC accounted for $2.4 billion in claimed losses in 2021

Housing Wire

In mid-November, the Federal Bureau of Investigations released its 2022 Congressional report on business email compromise (BEC) and real estate wire fraud. According to the report, in 2021, the Internet Crime Complaint Center (IC3) received BEC-related complaints with claimed losses exceeding $2.4

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Why purchase application data is below 2008 levels

Housing Wire

Purchase application data is now below 2008 levels! But I need to explain why this level has more in common with 2014 housing data than the credit stress markets of 2005-2008, and why you should care.

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Demand for mortgages is on the rise as rates fall

Housing Wire

With mortgage rates down nearly 50 basis points from the recent peak about a month ago, borrower demand picked up again this week, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, rose 2.2%

Database Restoration: How to Revive Dead Leads and Generate New Ones

Speaker: Rivers Pearce, CEO of W8LESS

In this session Rivers Pierce, CEO of W8LESS, will teach you how winning agents restore and revive their database to continue to gain market share!

Lenders aren’t getting déjà vu with the current downturn, so what’s different?

Housing Wire

Many lenders are not getting a sense of déjà vu with the current mortgage industry downturn, according to mortgage advisory firm Stratmor Group. “This one feels different,” a recent Stratmor report states, citing executives in the mortgage industry. .

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Opinion: Mortgage rates have a smaller impact on housing than you think; here’s proof

Housing Wire

If we don’t learn from history, we are doomed to repeat it. From 1998 to 2006, according to Freddie Mac , the median annual mortgage rate was 6.45%. At the same time, the median, annual average of existing home sales was 5.63 million units.

Home equity loan vs. HELOC – What’s the difference?

Housing Wire

While mortgage rates are high and economic uncertainty looms, there is good news for borrowers who already have a mortgage and may be looking to tap into their equity.

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Housing industry continues to shed employees in economic downturn

Housing Wire

Don’t be fooled by last week’s mortgage rate collapse. A combination of elevated mortgage rates, sluggish home sales and inflation continue to plague the housing market workforce, with numerous mortgage lenders and real estate startups shedding employees. The U.S.

The Real Estate Pulse: Analyzing the 2022 Housing Market

Speaker: Grier Allen, CEO and Co-Founder of BoomTown

In this session, Grier Allen, CEO and Co-Founder of BoomTown, will breakdown the top housing trends for 2022, and help you navigate the constant changes in the market so that you can achieve success!

Even with falling rates, the housing market is shaping up to be bad in Q4

Housing Wire

The housing recession was in full swing in October. Existing home sales last month declined 5.9% from September to a seasonally adjusted annual rate of 4.43 million in October, and were down 28.4% year over year. That’s the largest year over year existing home sales decrease since 2007.

The case for mortgage rates to fall in 2023

Housing Wire

On Thursday, the gross domestic product data for the third quarter showed the U.S. economy grew at a rate of 2.6%, breaking the negative GDP streak we had in the past two quarters.

The honey badger labor market will still bite housing

Housing Wire

On Friday, the Bureau of Labor Statistics reported that 261,000 jobs were created and we had 29,000 positive revisions to prior reports. This means the honey badger labor market will keep the Federal Reserve from pivoting anytime soon. . This has been a theme of mine lately.

Home price appreciation continues to slow

Housing Wire

Yearly home-price growth continued to slow in September, with the year-over-year price gain shrinking for the sixth consecutive month, according to the S&P CoreLogic Case-Shiller National Home Price Index , released Tuesday. Nationwide home prices posted an annual gain of 10.6%

#Trending: How to Leverage Instagram’s Algorithm to Build Your Pipeline

Speaker: Eric Simon, Founder of The Broke Agent Media | Matt Lionetti, Real Estate Salesperson at The Agency

In this session, The Broke Agent and Matt Lionetti will break down the strategies they utilize to grow their Instagram accounts to over 360,000 and 40,000 followers. They will also discuss vertical video, podcasting, and the importance of producing consistent content!

Prepayment activity drops to another record low as mortgage rates top 7%

Housing Wire

Prepayment activity fell to another record low in October amid mortgage rates topping 7% and refis drying up. Black Knight expects that the steep declines in rate lock volume and seasonality factors point to further declines in prepayment activity. Prepayment dropped 16.5%

Ginnie Mae rule is the ‘elephant in the room’ for the MSR market 

Housing Wire

Mortgage industry executives are echoing the sentiment that Ginnie Mae’s risk-based capital requirement is currently the main concern for companies holding mortgage servicing rights (MSR).

The historic multifamily construction boom is already fading

Housing Wire

David Meyer is thankful that his business is still plugging along during the wildest housing market in decades. With mortgage rates hovering around 7% and home prices still at record highs, buyers across America are calling off the house hunt and finding multifamily apartments. .

What happens after the Fed’s rate hike?

Housing Wire

The Federal Reserve will hold another meeting this week, where everyone assumes we will get another 75 bps rate hike. The question is: how many more rate hikes are left? And, once they’re done hiking rates, will the Fed need to keep rates high because the consumer balance sheet looks so good?

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