Housing Wire
NOVEMBER 10, 2023
Home sales were down 23% year over year, but all-cash deals only fell 11%, according to Redfin’s analysis. It is worth noting that some buyers are using equity from the sale of their previous home to make a relatively larger down payment on their new purchase. mortgaged home sales, up from 14% a year earlier but down from 16.3%
Housing Wire
DECEMBER 3, 2023
“Strong equity cushions not only provide borrowers incentive to work with their servicers to return to making mortgage payments, they also open up other options, such as salvaging earned equity with a traditional home sale rather than going through foreclosure. for FHA loans and 44.5% for VA loans.
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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%
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% In February, conventional loans accounted for 63% of applications for new homes. Department of Veteran Affairs (VA) loans took a 10.4%
Housing Wire
FEBRUARY 16, 2024
According to MBA estimates, new single-family home sales were at a seasonally adjusted annual rate of 700,000 units in January, the highest pace since October 2023. In January, conventional loans accounted for 64.5% of loan applications for new homes. Federal Housing Administration (FHA) loans accounted for 24.8%
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%
Housing Wire
NOVEMBER 22, 2023
The average loan size on a purchase application was $403,600, the lowest since January 2023. Joel Kan, MBA’s vice president and deputy chief economist, said this corroborates with other sources of home-sales data pointing to a rising share of first-time homebuyers entering the market. last week but remained subdued.
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