Housing Wire

APRIL 16, 2024

According to MBA estimates, new single-family home sales were at a seasonally adjusted annual rate of 615,000 units in March, the slowest annualized pace in four months, and a decrease of 10.7% A higher FHA share can be a sign of more first-time buyer activity, but that segment of buyers is also more sensitive to affordability challenges.”

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Housing Wire

JUNE 17, 2021

the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. On a seasonally adjusted basis, the MBA also estimates new home sales fell at an annualized pace of 4% in May, said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

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Housing Wire

MARCH 22, 2023

The less competitive market has also resulted in more buyers using FHA and VA loans. In January, 16% of mortgaged home sales used an FHA loan , up from 13.3% a year ago, while the share of mortgaged sales using VA loans rose to 7.5% Detroit saw the highest share of FHA loans at 29.5%

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Housing Wire

FEBRUARY 15, 2024

But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for help, said Susanne Saller, a senior consultant at Caliber Home Loans. They come in the forms of grants, second mortgages, deferred loans and forgivable loans.

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Housing Wire

DECEMBER 3, 2023

Loans in active foreclosure inched up to 217,000, but remained more than 25% below pre-pandemic levels. About 70% of loans currently three or more payments past due are protected from foreclosure by ongoing loss mitigation efforts. In 2024, roughly 75% of originations expected to come from purchase loans. for VA loans.

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Housing Wire

MARCH 6, 2024

“Of note, purchase volume — particularly for FHA loans — was up strongly, again showing how sensitive the first-time homebuyer segment is to relatively small changes in the direction of rates. Meanwhile, rates on jumbo loans (balances greater than $766,550) increased to 7.21%, up from 7.20%. the previous week.

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Housing Wire

MAY 13, 2021

Amid continued competition from borrowers, the average loan size of a new home reached its highest level in the survey’s history at $377,434. “While still strong, this sales pace remains below the 877,000-sales pace seen in the second half of 2020.”. . of loan applications, followed by just 15.8%

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Housing Wire

JULY 26, 2021

New home sales continued to slip in June, falling 6.6% The median sales price of new houses sold in June 2021 was $361,800. The average sales price was $428,700. “Builders are working through this uncertainty by managing their pipelines, notably expanding the number of homes for sale that are not yet started.”

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HomeLight

FEBRUARY 12, 2021

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1% FHA loans help make homeownership more accessible.

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Housing Wire

NOVEMBER 8, 2023

3, total home loan applications increased 2.5% Applications for both purchase and refinance loans were up over the week but remained at low levels,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement. “”The The share of Federal Housing Administration (FHA) loan activity remained unchanged at 14.7%.

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Housing Wire

FEBRUARY 7, 2023

It essentially allows qualified buyers with a government loan to purchase a home by assuming responsibility for the sellers’ mortgage terms, including the current balance and interest rate. The fees are typically lower than in new loans, and no appraisal is needed. The product, known as an assumable mortgage, is not new.

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Housing Wire

JANUARY 31, 2023

Scott Miller, a former mortgage loan originator at Sprout Mortgage , knew the clock was ticking when the non-qualified mortgage (non-QM) lender abruptly closed doors in July 2022. Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures.

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Housing Wire

JUNE 12, 2023

Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes. While rate locks on purchase loans rose from April, they also dipped to their lowest level yet relative to 2018 and 2019 averages as rates rose late in the month,” Andy Walden , vice president of enterprise research at Black Knight, said.

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HomeLight

AUGUST 31, 2021

The Federal Housing Administration (also known as the FHA) is an agency of the U.S. The FHA doesn’t lend money itself. The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers. But FHA guidelines are a little more relaxed.

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Housing Wire

NOVEMBER 7, 2023

In the aftermath, one of the most contentious issues in the minds of mortgage professionals is how the ruling might affect FHA and VA mortgage borrowers. FHA loans are a popular option for first-time homebuyers or those who don’t have a lot of cash saved for a down payment, because the loans require a minimum of 3.5%

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Housing Wire

OCTOBER 25, 2023

The firm is a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers. The average of preapproved borrowers per loan officer fell by 11.6% The average of preapproved borrowers per loan officer fell by 11.6% The average down payment size was 14.5% days in Q2.

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Housing Wire

OCTOBER 19, 2021

Based on data from the survey, MBA estimates that there were 66,000 new single-family home sales in September, compared to 71,000 new single-family homes a month prior, a 7% decrease. The new home sales estimate is derived using mortgage application information from the BAS, as well as assumptions regarding market coverage and other factors.

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Housing Wire

SEPTEMBER 22, 2023

However, a silver lining in the subdued housing market is the strength in new-home sales. Read on to learn more about Duncan’s views on the housing market, loan performance and affordability challenges homebuyers face. Builders are providing rate buy-downs for first-time homebuyers, which aligns with their interests, Duncan explained.

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Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. NAR received 1,919 responses by the mid-August close date of the survey. The homebuyer survey was conducted by Morning Consult in June 2023.

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HomeLight

MAY 8, 2024

As is” is a type of home sale where it’s understood that no improvements will be made to the property. An as-is sale may also indicate that the functionality and longevity of specific home components, such as the water heater or the roof, are in less than perfect condition and may need considerable repair.

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Housing Wire

SEPTEMBER 20, 2023

Last week, purchase applications increased for both conventional and FHA loans but remained 26% lower than the same week a year ago. Also noteworthy, the average loan size on a purchase application was $416,800, the highest level in six weeks. The Federal Housing Administration loans’ share remained unchanged at 14.2%.

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Housing Wire

APRIL 3, 2024

The Community Home Lenders of America (CHLA) this week submitted a letter to the Federal Housing Administration (FHA) that urges the agency to “provide comparable down payment treatment for FHA borrowers, regardless of whether or not the seller is willing to pay the home buyer broker commission,” according to an announcement by the organization.

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Housing Wire

AUGUST 24, 2023

The national median mortgage payment for FHA loan applicants was $1,854 in July, up from $1,824 in June and up from $1,461 in July 2022. The national median mortgage payment for conventional loan applicants was $2,197, down from $2,205 in June and up from $1,892 in July 2022. Median earnings were up 3.7%

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Housing Wire

NOVEMBER 16, 2021

The strong monthly gain puts MBA’s estimate of new home sales at its strongest pace since January 2021, the report said. In September , the average mortgage loan size of new homes clocked in at $408,522, the survey found. Regarding product type, conventional mortgage loans reigned supreme, making up 75.7% of loan applications.

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HomeLight

SEPTEMBER 30, 2020

But what if you’re buying a short sale? Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. What’s a short sale ? Well, it depends.

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Realtor.com

AUGUST 1, 2018

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. had recently bought using a Federal Housing Administration loan, and it was working out wonderfully. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded Petersburg, FL. We had one child, one cat, and lots of stuff.

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Housing Wire

AUGUST 22, 2022

The MBA’s estimate of new home sales came in at a 591,000-unit sales pace in July, the slowest since April 2020. On an unadjusted basis, the MBA estimated that there were 50,000 new home sales in July 2022, a decrease of 10.7% from the revised 56,000 new home sales in June. and VA loans composed 11.4%.

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HomeLight

APRIL 11, 2024

We have seen a slight increase in out-of-state sales in the last three years,” Marchesiello adds. As is” is a type of home sale where it’s understood that no improvements will be made to the property. “As As is” is a type of home sale where it’s understood that no improvements will be made to the property.

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Housing Wire

MAY 19, 2022

It was the slowest sales pace since May 2020. On an unadjusted basis, MBA estimates that there were 65,000 new home sales in April 2022, a decrease of 12.2% from 74,000 new home sales in March. . The average loan size rose to a new survey high of $436,576. Conventional loans accounted for 76.7% from March and 8.6%

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Housing Wire

JUNE 26, 2023

The total number of loans in forbearance at the end of Q1 stood at 65,757, coming out to 0.21% of the total loans serviced and 15% of delinquent loans. The total number of loans in forbearance at the end of Q1 stood at 65,757, coming out to 0.21% of the total loans serviced and 15% of delinquent loans.

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HomeLight

JANUARY 22, 2024

This oftentimes will have to do with unique circumstances that don’t really lend themselves to renovating a property for sale. Sell 'As Is' With a Cash Offer in Virginia HomeLight’s Simple Sale platform will provide a no-obligation, all-cash offer for Virginia homes in almost any condition. Yes Is a real estate attorney required?

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Housing Wire

JULY 20, 2021

New single-family home sales were reported at a seasonally adjusted annual rate of 704,000 units in June, a decrease of 5% from May’s pace of 741,000. The MBA estimates there were 66,000 new home sales in June, down from 68,000 such sales in May. This has dampened new home sales and quickened home-price growth.”

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Housing Wire

DECEMBER 12, 2023

This phenomenon becomes clearly apparent when compared to existing home sales, for which these buydowns are very rare. As shown in the chart below, existing and new home sales for the 19 largest home builders had roughly the same note rates until January 2022. Note: Data are for 30-year fixed rate primary-owner occupied purchase loans.

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Housing Wire

NOVEMBER 16, 2023

FHA applications reached highest share of new-home applications since 2013 In October, FHA applications represented 26.3% FHA applications reached highest share of new-home applications since 2013 In October, FHA applications represented 26.3% This is the highest share of FHA new-home purchase applications in a decade.

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HomeLight

JANUARY 22, 2024

Why do sellers consider selling making a as-is home sale? Fast facts about selling a house ‘as is’ in Colorado Median sales price in Colorado $545,000 Average days on market (DOM) for Colorado 50 Disclosures Colorado law requires sellers to disclose material facts about the property through the Colorado Seller’s Property Disclosure Form.

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Housing Wire

MAY 2, 2023

A coalition of fiscal officers from 27 state governments called on the Biden administration and the Federal Housing Finance Agency (FHFA) to scrap the loan-level pricing adjustment (LLPA) fee changes that went into effect on May 1. House of Representatives , led by Rep. Andy Biggs (R-Ariz.),

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Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. for 30-year fixed-rate loans. This article is part of our HousingWire 2022 forecast series.

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