Housing Wire

FEBRUARY 10, 2024

So far in 2024, fewer homes are taking price cuts than in 2023, and this trend is on the verge of breaking below the 2023 lows in price cuts percentages. This is the price-cut percentage for last week over the last few years: 2024: 30.1% What is all this data pointing to?

Mortgages 505

Mortgages Sales As-is Closing 505

Housing Wire

MAY 4, 2024

Last year, during this same timeframe, inventory fell week to week as well, so always remember that a trend is more important than one week’s data. The price-cut percentage growth in 2024 is much slower than in 2022, when rates spiked more aggressively. Let’s delve into the weekly data to see what we can uncover.

Mortgages 414

Mortgages Sales As-is Marketing 414

Housing Wire

MARCH 2, 2024

Let’s take a look at the inventory data this year to test this premise, since for many months it has been a working theory of mine that new listings data behavior last year marked a bottom and even going into 2024 we should see more sellers. The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully.

Mortgages 532

Mortgages Sales As-is Closing 532

Housing Wire

FEBRUARY 12, 2024

The worst times for mortgage originations may be over as the market appears to be turning, but it’s still an unaffordable environment for younger borrowers in particular, according to a fourth-quarter 2023 lending report from Maxwell. If home prices and lending costs moderate in 2024, significant demand could flow into the market.

Mortgages 432

Mortgages Lending Loans Equity 432

Housing Wire

APRIL 12, 2024

Wells Fargo and JPMorgan Chase usually open the quarterly earnings seasons in the mortgage space, giving analysts something to chew on before nonbanks release their financial reports. In the first quarter of 2024, the big banks showed a challenging reality for originations. Regarding the U.S. Regarding the U.S. year over year.

Mortgages 377

Mortgages Banks Fixed-rate mortgage Lending 377

Housing Wire

APRIL 19, 2024

year over year in the first quarter of 2024, with the median price hitting a record $1.225 million, according to data from Redfin. That’s the highest share in at least a decade, Redfin reported. That’s the highest share in at least a decade, Redfin reported. In the first quarter of 2024, sales of luxury homes rose 2.1%

Equity 419

Equity Sales Mortgages Marketing 419

Housing Wire

FEBRUARY 13, 2024

In January, the number of properties with a foreclosure filing inched up on both a monthly and a yearly basis, according to a report released Tuesday by Attom Data. Nationwide, one in every 4,236 housing units had a foreclosure filing in January 2024. “We In total, 33,270 U.S. In total, 33,270 U.S.

Real-estate owned 473

Real-estate owned Banks Marketing Mortgages 473

Housing Wire

DECEMBER 26, 2023

Despite lower sales activity, home prices continued their upward trend in October, according to the S&P CoreLogic Case-Shiller Home Price Index. Real estate experts say the performance reflects limited inventory in the country, a problem expected to continue in 2024. census divisions posted a 4.8% census divisions posted a 4.8%

Mortgages 474

Mortgages Marketing Sales As-is 474

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. We got one big existing home sales report, and then as rates rose, sales fell the rest of the year. All four U.S.

Sales 478

Sales Investor Finance Marketing 478

Housing Wire

JANUARY 9, 2024

Other mortgage lenders may follow suit since regulators plan to replace the classic credit system with an updated one to incorporate trended data. a competing model incorporating trended credit bureau data. The original implementation timeline was to move from a tri-merge system to a bi-merge system in the first quarter of 2024.

Loans 412

Loans Investor Mortgages Lending 412

Housing Wire

JANUARY 28, 2024

Purchase application data As we get closer to the end of the first month of 2024, forward-looking purchase application data looks good. Purchase application data As we get closer to the end of the first month of 2024, forward-looking purchase application data looks good. This is common in January. So, inventory falling looks normal.

Mortgages 516

Mortgages As-is Sales Marketing 516

Housing Wire

APRIL 6, 2024

Weekly housing inventory data — both active inventory and new listings — are prone to one-week moves that deviate from a trend, especially if people are going Easter egg hunting. Also, spreads between the 10-year yield and the 30-year mortgage got better last week, which is a big plus for the future if this trend continues.

Mortgages 434

Mortgages Land As-is Marketing 434

Housing Wire

MAY 13, 2024

Announced in February , the agency had originally planned to publish the dataset next year, but it chose instead to advance the timeline to third-quarter 2024 in order to “better support market participants with this transition” to a new bi-merge credit reporting requirement that is also being challenged by trade groups and lawmakers.

Mortgages 354

Mortgages Lending Construction Finance 354

Housing Wire

DECEMBER 9, 2023

9): Inventory fell from 550,302 to 536,409 The inventory bottom for 2022 was 240,194 The inventory peak for 2023 so far is 569,898 For context, active listings for this week in 2015 were 1,050,971 The new listing data has been trending at the lowest levels ever for 17 months now. Now lets take a look at the weekly inventory data.

Mortgages 523

Mortgages Sales As-is Closing 523

Housing Wire

JANUARY 13, 2024

So let’s hope for more home sellers in 2024. This is the price-cut percentage for the same week over the last few years: 2024 32.2% New listing data New listings data can grow in 2024, something I talked about on CNBC last year as this data line didn’t trend much lower when mortgage rates were heading toward 8%.

Mortgages 525

Mortgages Sales As-is Marketing 525

Housing Wire

APRIL 17, 2024

The latest findings from Relitix’s Agent Movement Index (AMI) for March 2024 reveal a nuanced landscape in the real estate sector, with shifts in agent activities suggesting stabilizing and evolving market conditions. It includes both raw monthly figures and seasonally adjusted data to provide a clear view of underlying trends.

Agents 387

Agents MLS Brokerage Industrial 387

Housing Wire

FEBRUARY 23, 2024

We got a great existing home sales report on Thursday, but is this data already too old? However, the last four weeks have had negative trending data. Existing home sales showed a jump in sales, which was anticipated by most as we had positive, forward-looking housing data due to mortgage rates falling from 8.03% to 6.63%.

Sales 436

Sales Days on market Mortgages Investor 436

Housing Wire

APRIL 26, 2024

For generation specific results, baby boomers and millennials reported higher confidence in having enough money to live comfortably throughout retirement than Gen Xers ,” he said. For the 2024 edition of the survey conducted in January, the methodology included 2,521 Americans — 1,255 active workers and 1,266 retirees.

Finance 367

Finance As-is 367

Housing Wire

JANUARY 18, 2024

With mortgage rates continuing their downward trend last week with softer inflation readings – the so-called core consumer price index that excludes volatile food and energy prices – pulling them lower, mortgage demand was up in the week ending Jan. by the end of 2024 from the current federal funds rate range of 5.25%-5.5%.

Fixed-rate mortgage 527

Fixed-rate mortgage Mortgages New Construction Construction 527

Housing Wire

FEBRUARY 5, 2024

Recent market trends — including an improvement in mortgage rates, housing affordability and potential refinance opportunities — suggest positive signs for the real estate market this year, according to February’s Mortgage Monitor report from Intercontinental Exchange (ICE). Mortgage rates held at 6.71% as of Jan. million to 3.8

Debt-to-income ratio 439

Debt-to-income ratio Marketing Equity Loans 439

Housing Wire

DECEMBER 16, 2023

That means we’ve had a positive trend for the last five weeks. to have existing home sales trends below 4 million with any duration post-1996. The Federal Reserve played the good grinch for Christmas this year and delivered the best gift for homebuyers nationwide, leading to lower mortgage rates. We have had an almost 1.5%

Mortgages 533

Mortgages Sales As-is Marketing 533

Housing Wire

OCTOBER 30, 2023

The Federal Housing Finance Agency (FHFA) failed to adequately document desktop appraisal reports, which clouds data on the effectiveness of the desktop appraisal program, according to a report published by the FHFA Office of the Inspector General (OIG). 18, 2021, and March 31, 2023.

Development 398

Development Finance Loans Mortgages 398

Housing Wire

JANUARY 30, 2024

The mortgage-servicing rights (MSR) market remains robust as we turn the corner into 2024, and though it is expected to slightly underperform 2023, the market is still projected to notch healthy trading volumes in 2024 — hovering near the $1 trillion mark for the fourth year in a row, market observers forecast.

Marketing 340

Marketing Principal Banks Loans 340

Housing Wire

FEBRUARY 9, 2024

After enduring challenges stemming from higher interest rates, stricter qualifications and broader industry consolidation, loan officers seem to be optimistic about how things have progressed in the early portion of 2024. In Green Bay, Wisconsin, Jim Cullen of University Bank reports a similar trend.

Mortgages 376

Mortgages Principal Loans Loan Officer 376

Housing Wire

OCTOBER 5, 2023

Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. The word “trended” is the source of the “T” in the 10 T name.

Loans 386

Loans Mortgages Lending Finance 386

Housing Wire

DECEMBER 8, 2023

After today’s jobs report , which showed unemployment at 3.7%, it’s now clear that the Federal Reserve does not need to create a job-loss recession to bring down the growth rate of inflation. The groundwork for rate cuts are now in place for 2024. economy had already started to recover. What does all this mean for the Fed?

Staging 519

Staging Land Sales As-is 519

Housing Wire

MARCH 4, 2024

I’ve previously been confident that trend will continue. But now it’s March, and mortgage rates are the highest they’ve been all year, the economy continues to report strong numbers so the Fed is growing less likely to cut rates soon. And as a result, as inventory builds , the sales growth trend shows signs of slowing.

Mortgages 472

Mortgages Sales Marketing As-is 472

Housing Wire

APRIL 26, 2024

That’s according to a pair of reports released Thursday by Redfin. The national real estate brokerage found that the nationwide median sale price reached $420,357 in March 2024. The national real estate brokerage found that the nationwide median sale price reached $420,357 in March 2024. Redfin reported that among the 10 U.S.

Marketing 357

Marketing Mortgages Brokerage Sales 357

Housing Wire

DECEMBER 8, 2023

Employers picked up the hiring pace in November, shaking investors’ confidence in the Federal Reserve ’s likelihood of cutting interest rates in 2024. We continue to forecast that the Fed will begin to cut rates in the spring of 2024, as job market trends are likely to weaken from here.” The unemployment rate slipped to 3.7%

Land 360

Land Investor Mortgages Marketing 360

Housing Wire

NOVEMBER 15, 2023

Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National Association of Realtors (NAR). ” According to Yun’s forecast, mortgage rates will fall to between 6% and 7% by spring 2024.

Sales 450

Sales New Construction Staging Mortgages 450

Housing Wire

DECEMBER 30, 2023

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. We created this weekly tracker at the end of 2022 to give people a live weekly outlook on everything that drives the housing market and which factors to follow. Weekly inventory change (Dec.

Mortgages 497

Mortgages Sales Marketing As-is 497

Housing Wire

NOVEMBER 22, 2023

With mortgage rates having previously soared to around 8% , existing home sales will likely decline further to bottom out in early 2024. million in 2024 and 5.3 million in 2024 and 5.3 in 2024 and 6.9% Purchase volume will rise in 2024 to $1.4 Existing home sales declined 4.1% Existing home sales declined 4.1%

Sales 383

Sales Mortgages Land As-is 383

Housing Wire

FEBRUARY 22, 2024

Stewart, which reported its earnings earlier in February, posted a revenue of $2.26 Despite declines in title transaction volume, Stewart’s title segment still reported an operating revenue of $503 million for Q4, down 14% annually, and a pretax income of $27.3 billion in 2023 and a net income of $30.4 million and net income of $8.8

Title 384

Title Marketing Investor Commercial 384

Housing Wire

DECEMBER 26, 2023

trillion to $2 trillion in 2024. 18 released a $2 trillion forecast for one-to-four family loan originations in 2024. .” 18 released a $2 trillion forecast for one-to-four family loan originations in 2024. “Barring any sort of unforeseen consequences, I’d like to think so , ” Joseph said in an interview.

Mortgages 497

Mortgages Equity Banks Sales 497

Housing Wire

MAY 10, 2024

In March , we explored the difference between Home Equity Conversion Mortgage (HECM) “expected rates” and “note rates” and why most reverse mortgages depend on these two interest rates. In April , we specifically focused on expected rates. Sadly, these higher expected rates have reduced the initial funds available for new HECM applicants.

Mortgages 358

Mortgages Principal Loans Equity 358

Housing Wire

MAY 10, 2024

The vote occurred Thursday during the final day of NAR’s midyear conference, the Realtors Legislative Meetings, according to Inman , which first reported the story. Hrabcak’s statement was in contrast to many of the recently reported NAR membership trends. In 2023, NAR raised dues from $150 to $156.

Purchase and sale agreement 320

Purchase and sale agreement Finance Agents Sales 320

Housing Wire

DECEMBER 12, 2023

Today’s inflation reports show that Federal Reserve rate cuts are in play in 2024 — not because of the labor market breaking, but because real rates are too high. Let’s dig into the report to find out why the Fed can now discuss rate cuts for next year. Bureau of Labor Statistics reported today.

Land 478

Land Mortgages Marketing As-is 478