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Better introduces VA refi loan with no appraisal or closing costs

Housing Wire

New York-based digital mortgage lender Better.com launched a streamline refinance loan product on Monday that aims to help military veterans and service members save money on long-term interest expenses and closing costs. of the loan amount) compared to the VA’s purchase, construction and cash-out refi options.

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The Federal Reserve’s housing recession dilemma

Housing Wire

Interestingly, employment for residential construction workers typically one of the first areas to experience declines before a recession has not yet seen its usual downturn. This sector is closely tied to the overall economic cycle and tends to show patterns before every recession observed in recent modern history.

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Tom Davis shares non-QM opportunities to capitalize heading into 2025

Housing Wire

Davis also highlights Deephaven’s edge in products like their Ground-Up Construction and Fix-and-Flip products, offering originators essential tools and training. Tom Davis: Investor transactions are still close to 28% of the overall purchase market. Many investors prefer to close in the name of an LLC.

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Here’s why we won’t build millions of new homes

Housing Wire

Since a Fed president makes this claim, it’s worth examining the data closely as he and his staff should be able to see the same housing data we are all looking at. A lower Fed funds rate can assist with land purchases and apartment construction, but that process would take considerable time before we see any development.

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Realtor.com addresses housing supply gap in new report

Housing Wire

This was driven by an increase in both single-family and multifamily construction. Importantly, new construction activity outpaced household formations for the first time since 2016. At 2024’s pace, closing the gap would take 7.5 But as Hale pointed out, the U.S. still faces a supply shortfall of 3.8

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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. That could set the backdrop for a slower pace of construction.

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UWM rolls out construction-to-permanent loans

Housing Wire

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. This type of loan only has one set of closing costs to pay, reducing the borrower’s overall fees.