Housing Wire

DECEMBER 21, 2023

Mortgage rates stayed below 7% for the second week in a row, a welcome relief after a 17-week streak of above-7% rates. The 30-year, fixed mortgage rate averaged 6.67% for the week ending Dec. 21, according to Freddie Mac ‘s Primary Mortgage Market Survey. Some prospective homebuyers were simply priced out of the market.

Mortgages 500

Mortgages Fixed-rate mortgage MLS New Construction 500

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. Chikonde worked at Optimal Blue for five years before joining Go Mortgage, according to her LinkedIn profile.)

Mortgages 362

Mortgages Marketing Lending Construction 362

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. Others allocated resources into digital marketing (31.1%), automation technology (26.7%) and market data (19.3%). in events to garner business. were from the Northeast 16.3%

Mortgages 405

Mortgages Marketing Banks New Construction 405

Housing Wire

FEBRUARY 29, 2024

Mortgage rates continued to trend up this week and dampen homebuyer momentum. The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week ’s figure of 6.90%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 463

Mortgages Fixed-rate mortgage New Construction Construction 463

Housing Wire

JULY 7, 2022

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today. Inventory rising, historically low.

Mortgages 397

Mortgages Marketing Investor Loan Officer 397

Housing Wire

DECEMBER 3, 2021

The construction sector added a total of 31,000 jobs in November, on par with the two prior months. Specialty contractors showed the largest gains with an increase of 13,000 jobs, while persons employed in construction of buildings, and civil and heavy engineering rose by 10,000 and 8,000 jobs, respectively. While this is a 0.4%

Residential 440

Residential Construction Banks Industrial 440

Housing Wire

JANUARY 11, 2023

Nashville, Tennessee-headquartered Defy Mortgage is the latest player to join the non-QM (non-qualified mortgage) lending space, which targets entrepreneurs and gig workers who have various forms of collateral, including cryptocurrency. We are able to count it as liquidity from a reserve requirement and for asset depletion.”. “We

Lending 421

Lending Mortgages Marketing Loans 421

Housing Wire

JUNE 3, 2022

After a month of very little change in April , the construction sector had a solid month of job growth in May, according to the U.S. Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. The post Residential construction jobs now 7.6%

Residential 454

Residential Construction Banks Renovation 454

Housing Wire

APRIL 5, 2024

Against that backdrop, Zillow identified prime markets for first-time homebuyers , and half of them were nestled in the Midwest. Headwinds like mortgage rates , low inventory and rising rents are still strong, but easing,” Zillow Senior Economist Orphe Divounguy, said in a statement.

Pre-approval 418

Pre-approval Marketing New Construction Construction 418

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior. Meanwhile, applications for refinancings fell by 7%.

Fixed-rate mortgage 345

Fixed-rate mortgage Mortgages Marketing Loan Officer 345

Housing Wire

AUGUST 28, 2023

Retail lender Guild Mortgage announced Monday the acquisition of First Centennial Mortgage, a privately-held Illinois-based lender with 15 branches predominantly in the Midwest and a presence in 17 states. Guild has been acquiring lenders to expand in local markets in a purchase mortgage-focused environment.

Mortgages 363

Mortgages Loan Officer Construction Loans 363

Housing Wire

JULY 8, 2022

The construction sector, meanwhile, had only a slight gain, according to the U.S. But employment showed little change over the month in other major industries, including construction, retail trade, financial activities, government and other services. Creating a path to success in today’s purchase market. Job growth in the U.S.

Construction 368

Construction Industrial Residential Mortgages 368

Housing Wire

APRIL 30, 2024

After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement. But after concerns were brought to the attention of policymakers during the proposal’s comment period, the U.S.

Mortgages 354

Mortgages Closing costs Equity Construction 354

Housing Wire

JANUARY 3, 2024

Mortgage demand fell over the holidays despite declining mortgage rates. Mortgage applications decreased 9.4% 29 compared to two weeks earlier, according to data from the Mortgage Bankers Association (MBA). for the week ending Dec. Purchase applications decreased by 5% week over week on an adjusted basis.

Mortgages 375

Mortgages VA loan FHA loan Loans 375

Housing Wire

NOVEMBER 22, 2023

Mortgage rates dropped significantly in the last few weeks, but the cost of borrowing remains high prompting many homebuyers to wait for even lower rates. The 30-year, fixed mortgage rate averaged 7.29% for the week ending Nov. 22, according to Freddie Mac ‘s Primary Mortgage Market Survey.

Mortgages 450

Mortgages New Construction Construction Sales 450

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. Where are mortgage rates headed? in second-quarter 2024.

As-is 452

As-is Industrial Mortgages Loans 452

Housing Wire

FEBRUARY 14, 2024

Guild Mortgage ’s acquisition of Academy Mortgage Corp. It’s the largest acquisition to date for retail lender Guild, which has closed six deals since 2021, including last year’s purchases of Legacy Mortgage , Cherry Creek Mortgage and First Centennial Mortgage. The combined enterprises would represent 1.3%

Mortgages 417

Mortgages Loan Officer Loans Closing 417

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 15-year fixed-rate mortgage averaged 5.76% this week, down from 5.87% the prior week.

Fixed-rate mortgage 530

Fixed-rate mortgage Mortgages New Construction Construction 530

Housing Wire

MARCH 20, 2024

The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement. Also recognized by the PROGRESS in Lending Association was Mortgage Cadence , which was lauded for its technology innovation.

Lending 362

Lending Mortgages Technology Banks 362

Housing Wire

SEPTEMBER 21, 2023

Mortgage rates remained well above 7% on Thursday as markets digested Wednesday’s Fed meeting. 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 7.19% as of Sept. 21, up one basis point from last week ’s 7.18%.

Mortgages 422

Mortgages Fixed-rate mortgage Loans Construction 422

Housing Wire

NOVEMBER 3, 2023

What to expect in the housing market ? In October, construction employment continued to trend up, adding 23,000 more jobs, aligning with the average monthly gain of 18,000 over the prior 12 months. More specifically, jobs picked up in specialty trade contractors (+14,000) and construction of buildings (+6,000).

Marketing 360

Marketing Construction MLS Mortgages 360

Housing Wire

APRIL 5, 2024

As a result, mortgage rates are likely going to stay elevated for longer.” Job gains were most notable in the health care (+72,000), government (+71,000) and construction (+39,000) sectors. In March, employment continued to trend up in construction, adding 39,000 jobs month over month. month over month to $34.69 and were up 4.1%

Industrial 299

Industrial Mortgages Construction MLS 299

Housing Wire

OCTOBER 8, 2021

After losing 3,000 jobs in August , the construction sector added 22,000 jobs in September. However, construction employment is still 201,000 jobs below its February 2020 level. The average hourly earnings of production and non-supervisory employees in construction are up 5.8%

Construction 436

Construction Residential Development Mortgages 436

Housing Wire

JULY 6, 2023

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The 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 6, up significantly from last week ’s 6.71%.

Mortgages 384

Mortgages Construction New Construction Investor 384

Housing Wire

JANUARY 6, 2023

Mortgage rates fell aggressively down to 6.20%, putting us at more than 1% below the highs of 2022. The bond market saw that wage growth was cooling down, leaving the Federal Reserve with few reasons to keep the rate hike story going much longer. The inflation growth rate is already falling and the labor market is still solid.

Mortgages 541

Mortgages Construction Land Staging 541

Housing Wire

DECEMBER 16, 2021

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates?

Mortgages 458

Mortgages Marketing Industrial Equity 458

Housing Wire

SEPTEMBER 27, 2023

housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. housing market has surged by more than $2.6 Fueling this increase is new construction, according to Divounguy, even though the 1.3%

Marketing 513

Marketing New Construction Finance Construction 513

Housing Wire

APRIL 7, 2023

Signs of a slowdown in the labor market have emerged, sparking hope that the Federal Reserve may stop its ongoing tightening monetary policy, which has spurred increasing mortgage rates. The slowdown in the labor market has been very gradual, according to them. Heavy and civil engineering construction created 7,100 jobs.

Marketing 374

Marketing Construction Residential Industrial 374

Housing Wire

NOVEMBER 22, 2023

Going more in-depth than a Fed meeting, our virtual Housing Market Update event provides you with the strategy-building insights needed to operate in 2024. It’s a savagely unhealthy housing market out there, and these economists unpack what that means for you. Register for the virtual event on Dec.

Marketing 485

Marketing Construction Sales Mortgages 485

Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times. Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like?

Due diligence 377

Due diligence Marketing Mortgages New Construction 377

Housing Wire

JUNE 29, 2023

Mortgage rates little changed this week as investors assessed Federal Reserve Chairman Jerome Powell ’s latest comments on rate hikes. 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. Other mortgage indexes also show rates slightly rising.

Mortgages 363

Mortgages New Construction Investor Construction 363

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. “There is too much distraction in the market; there are some negative folks out there.

Mortgages 473

Mortgages VA loan Finance Loans 473

Housing Wire

JANUARY 22, 2024

Seniors largely want to remain in their own homes as they get older, and that preference could be remaking the housing market in the city of Chicago, according to a new report. The two organizations produce the quarterly Reverse Mortgage Market Index (RMMI) report. Boomers own 35.6% of the national U.S.

Marketing 350

Marketing Construction Equity Mortgages 350

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. The deal also expands Planet’s footprint in the Midwest, Northwest and West Coast markets. billion in mortgage loans from January to March, with $6.3 The lender originated $6.5

Mortgages 397

Mortgages Lending Loan Officer Loans 397

Housing Wire

JANUARY 5, 2024

Here are my three key points on the labor market recovery since I retired my COVID-19 recovery model on Dec. Employment continued growing in government, health care, social assistance, and construction, while transportation and warehousing lost jobs. Does this mean the labor market is breaking? 9, 2020: 1. percent, the U.S.

Marketing 481

Marketing Staging Land Construction 481

Housing Wire

NOVEMBER 5, 2021

For the second month in a row the construction sector added jobs, rising by 44,000 jobs in October. Unfortunately for the residential housing sector, most of these jobs were in nonresidential specialty trade contractors (19,000), and in heavy and civil engineering construction (12,000). Residential building is up 5.4%

Residential 315

Residential Construction Development Mortgages 315

Housing Wire

NOVEMBER 20, 2023

California-based retail lender American Pacific Mortgage (APM) has named vice chairman Bill Lowman as its chairman of the board, succeeding APM founder Kurt Reisig. FoA) months after it shut down its forward mortgage segment. billion during the same period in 2022, according to Inside Mortgage Finance (IMF).

Mortgages 376

Mortgages Lending Finance Loans 376