Housing Wire

SEPTEMBER 14, 2023

Demand for newly constructed homes continues to remain high as existing for-sale inventory remains historically low. Mortgage applications for new home purchases increased 20.6% On an unadjusted basis, MBA estimates that there were 59,000 new home sales in August 2023, an increase of 5.4% from 56,000 new home sales in July.

New Construction 418

New Construction Construction Mortgages VA loan 418

Housing Wire

JANUARY 30, 2025

New construction The reverse mortgage industry has, for a while, aimed to communicate the potential benefits of the Home Equity Conversion Mortgage ( HECM ) for Purchase program as a mechanism for securing a new home by using a reverse mortgage. Some feel like homes arent built like they used to be.

Inspection 264

Inspection Mortgages New Construction Equity 264

Housing Wire

JUNE 8, 2021

Given the rising price of lumber and other construction costs, renovations may sound impractical. New construction is everything – it’s copper, plastic, plumbing, lumber, roofing – but in a rehab, you’re not necessarily doing all that, there’s not a big spend on that,” he said.

Loans 360

Loans Lending Renovation New Construction 360

Housing Wire

FEBRUARY 10, 2025

billion in loans, which the company said marked a 46% year-over-year increase. In July 2024, Kiavi announced its closing of a $350 million securitization of residential transition loans (RTLs), bringing its six-month volume of issuances to nearly $1 billion. In 2024, Kiavi reportedly originated a record $6.5

Lending 270

Lending New Construction Residential Investor 270

Housing Wire

JULY 19, 2024

We specialize in non-agency loans, including bank statement loans, government lending, new construction and renovation products, and HELOCs , positioning us as a leader in the industry.” ” Our success is driven by our exceptional team and an expansive product portfolio.

Lending 460

Lending New Construction Renovation Banks 460

Housing Wire

FEBRUARY 13, 2025

San Francisco-based private lender Kiavi announced on Thursday that it has secured $300 million in capital after another securitization of its residential transition loans (RTLs). The deal leaves room for reinvestment via a two-year window, allowing investors to reuse principal payoffs to purchase newlyoriginated loans.

Land 213

Land Investor Principal New Construction 213

Housing Wire

MARCH 25, 2024

Additionally, mortgage applications for new homes surged in February as a lack of existing homes for sale continued to fuel the demand for new construction. But a slight uptick in mortgage rates held back the pace of new home sales in February, according to NAHB chief economist Robert Dietz.

Sales 484

Sales New Construction Construction MLS 484

Housing Wire

DECEMBER 21, 2023

Meanwhile, HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.68% on Thursday. A rise in homebuilder confidence , followed by new home construction reaching its highest level since May, signals a response to meet heightened demand as current inventory remains low.”

Mortgages 511

Mortgages Fixed-rate mortgage MLS New Construction 511

Housing Wire

JUNE 17, 2021

Lack of inventory and sweltering home prices have become a market norm for much of the industry, and May’s loan size data reported the trend has yet to abate. According to the BAS, the average loan size rose from $377,434 in April to $384,000 in May ?the the fourth consecutive month of rising loan sizes and a new survey high.

Sales 511

Sales VA loan FHA loan Loans 511

Housing Wire

APRIL 16, 2024

In February, conventional loans accounted for 63% of applications for new homes. Federal Housing Administration (FHA) loans accounted for 26.4% Department of Veteran Affairs (VA) loans took a 10.4% Department of Agriculture (USDA) loans accounted for 0.3%. of applications , U.S. share, and U.S.

VA loan 458

VA loan FHA loan New Construction Loans 458

Housing Wire

NOVEMBER 16, 2023

FHA applications reached highest share of new-home applications since 2013 In October, FHA applications represented 26.3% of all new-home purchase applications as homebuyers turned to new construction for more housing options. This is the highest share of FHA new-home purchase applications in a decade.

Mortgages 482

Mortgages VA loan Loans New Construction 482

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. Fueling this increase is new construction, according to Divounguy, even though the 1.3% Over the past year, the value of the U.S.

Marketing 521

Marketing New Construction Finance Construction 521

Housing Wire

JUNE 2, 2021

Tight housing inventory, obstacles to a faster rate of new construction, and rapidly rising home prices continue to hold back purchase activity,” Kan said. The overall housing index hit its lowest point since February, said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

Fixed-rate mortgage 543

Fixed-rate mortgage Mortgages New Construction Loans 543

Housing Wire

APRIL 5, 2024

. “Attractive homes are moving fast, so those looking to buy this spring should get their finances in order now, including getting pre-approved for a home loan. The increase in new listings this spring, due both to new construction and to more homeowners choosing to sell, will give buyers more options and help to ease price growth.

Pre-approval 481

Pre-approval Marketing New Construction Construction 481

Housing Wire

FEBRUARY 16, 2024

Mortgage applications for new homes surged in January as a lack of existing homes continued to fuel the demand for new construction. Mortgage applications for new home purchases rose 19.1% In January, conventional loans accounted for 64.5% of loan applications for new homes. of applications, U.S.

VA loan 459

VA loan FHA loan New Construction Loans 459

Housing Wire

JULY 16, 2024

Biden’s new plan would cap annual rent hikes at 5% for two years for landlords who manage 50 or more rental units, which the administration said would cover 20 million units, or roughly half of all rental units in the country. Exemptions would be provided to new construction and units with “substantial” renovation and rehabilitation.

New Construction 488

New Construction Construction Land Development 488

Housing Wire

JANUARY 10, 2022

Interest rates on 30-year fixed-rate loans averaged 2.96% in 2021, a record low annual average, and are expected to rise this year. Even with this increase, fixed-rate loans will still be cheaper than they were before the pandemic: In the 2010-2019 decade the interest rate averaged 4.1% for 30-year fixed-rate loans.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Housing Wire

OCTOBER 27, 2020

average rate for 30-year loans, while Fannie Mae expects an even lower 2.8%. Housing starts are expected to increase steadily in 2021, meaning more new construction properties should hit the market as we head into the year. The industry’s major players all expect mortgage rates to stay in the low 3% range come 2021.

Construction 545

Construction New Construction Loans Mortgages 545

Housing Wire

APRIL 8, 2024

It now faces a wave of mortgage maturities and payoffs on the thousands of affordable-housing complexes it has helped to finance over the years — with no new construction carried out under the program since 2012. I think in a healthy housing market, you have to have both new construction and preservation efforts,” Maxwell said. “We

New Construction 511

New Construction Finance Construction Mortgages 511

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. 7 loan officer in the country last year with a mortgage production volume of $326.5

Loan Officer 448

Loan Officer Mortgages VA loan Lending 448

Housing Wire

FEBRUARY 12, 2024

It also has a niche in construction and manufactured home loan programs.

Lending 451

Lending New Construction Construction Finance 451

Housing Wire

JANUARY 9, 2024

Here are a few trends in financing that will continue to catalyze the construction of more ADUs: Expanded access to mortgage financing The Federal Housing Authority announced a new policy in October 2023 that has made it easier to finance construction of new ADUs, as well as making it more achievable to buy or refinance a house with an existing ADU.

Finance 501

Finance Construction Loans Renovation 501

Housing Wire

MAY 16, 2023

New home construction is taking on an increased role in the marketplace because many home owners with loans well below current mortgage rates are electing to stay put, and this is keeping the supply of existing homes at a very low level ,” Alicia Huey, the NAHB chair, said in a statement. That share from 2000-2019 was a 12.7%

New Construction 459

New Construction Construction Sales Staging 459

Housing Wire

OCTOBER 19, 2021

“New home sales purchase activity was weaker in September, and the average loan size rose to another record high, as homebuilders continue to grapple with rising building materials costs and labor shortages. When looking at loans by product type, conventional loans made up 75.1% and RHS/USDA loans made up the final 0.5%.

VA loan 435

VA loan FHA loan Mortgages Loans 435

Housing Wire

NOVEMBER 22, 2023

HousingWire’s Mortgage Rates Center showed Optimal Blue ’s average 30-year fixed rate on conventional loans at 7.283% on Wednesday. “In New construction starts and permits showed surprising strength in October while existing-home sales slumped to their worst reading since 2010.

Mortgages 476

Mortgages New Construction Construction Sales 476

Housing Wire

MAY 6, 2024

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). Department of Veterans Affairs (VA) loans.

VA loan 448

VA loan Principal Residential Loans 448

Housing Wire

OCTOBER 25, 2023

According to Alicia Huey, chairman of the National Association of Home Builders (NAHB), the lack of existing inventory is the reason why more homebuyers turn to new construction. Meanwhile, the median sales price for a new house in September was $418,800, down 3.3% from $430,300 in August.

Sales 448

Sales New Construction Construction Finance 448

Housing Wire

FEBRUARY 29, 2024

Fewer homes under construction and falling permits mean dwindling options for future buyers, adding more pressure to a market already strained by tight supply,” Point2 said. The total number of homes under construction fell by 9% in 2023 while the number of permits dropped 11% year over year.

Construction 468

Construction New Construction Development Loans 468

Housing Wire

FEBRUARY 29, 2024

And HousingWire’s Mortgage Rates Center showed that Polly ’s average 30-year fixed rate for conventional loans was 7.23% on Thursday, up from 7.19% at the same time last week. Other buyers are choosing to pivot to new construction, attracted to the concessions offered by homebuilders, including rate buydowns.

Mortgages 493

Mortgages Fixed-rate mortgage New Construction Construction 493

Housing Wire

MAY 31, 2022

Among them are Geneva Financial , a mortgage lender headquartered in Arizona, which opened a branch location in Chicago, and New Western , a real estate investment firm, which also launched its first office in Chicago, marking its expansion with its 43rd office location in its 19th state. Department of Agriculture (USDA).

Mortgages 397

Mortgages Loans Lending Construction 397

Housing Wire

SEPTEMBER 18, 2024

CMG Home Loans , the retail lending division of CMG Financial , has its eyes on growing its dedicated reverse mortgage segment. If I talk to 20 people about this product, I’ll have somebody refer me a loan. He also offers thoughts on retaining clients regardless of their needs. “If

Loans 459

Loans New Construction Mortgages Lending 459

Housing Wire

JULY 9, 2024

The Federal Home Loan Bank of Chicago (FHLBank Chicago) and consumer credit scoring system VantageScore announced on Tuesday that the bank is now accepting mortgage collateral using VantageScore 4.0, an updated version of the scoring system using trended credit bureau data. “[M]ember that use trended credit bureau data.

Banks 392

Banks Finance New Construction Construction 392

Inman

FEBRUARY 6, 2023

Homebuyers can put as little as 5 percent down when taking out a new construction loan, with one closing and an optional float-down to secure a lower interest rate, according to United Wholesale Mortgage.

New Construction 113

New Construction Construction Loans Closing 113

Housing Wire

JULY 20, 2023

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 6.78% as of July 20, down from last week ’s 6.96%. By contrast, the 30-year was at 5.54% a year ago at this time.

Mortgages 368

Mortgages Fixed-rate mortgage New Construction Construction 368

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. It’s fair to say that 2022 has been a depressing year for homebuilders.

Construction 397

Construction New Construction Fixed-rate mortgage Finance 397

Housing Wire

JULY 26, 2021

Zillow Economist Matthew Speakman said demand for new homes should remain hot, as home shoppers continue to favor new construction as an alternative to the “ultra-competitive” resale sector. By product type, conventional loans were 74.4% That pace for the Northeast, specifically, is down 27.9% from June 2020.

Sales 448

Sales VA loan FHA loan Loans 448

Housing Wire

JANUARY 18, 2024

HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.709% on Thursday, up from 6.66% recorded at the same time last week. The 15-year fixed-rate mortgage averaged 5.76% this week, down from 5.87% the prior week. 12 compared to a week earlier.

Fixed-rate mortgage 532

Fixed-rate mortgage Mortgages New Construction Construction 532