Housing Wire

DECEMBER 2, 2024

Real estate investment and operating platform Wrightwell has secured a new financing round while forging a partnership with Bain Capital and Saluda Grade. housing and financing operating companies.” We are excited to see Wrightwell continue to enhance its servicing of the unmet needs that exist in the real estate market.”

Finance 397

Finance Residential Commercial Construction 397

Housing Wire

JULY 23, 2024

Mortgage rates continue to move lower this week even as higher borrowing costs have kept activity subdued across many areas of the housing market. There were a record number of apartments delivered in many markets last year, but builders appear to be pulling back to avoid a glut of supply. Data from the U.S. in 2024 and to 6.4%

Mortgages 511

Mortgages MLS Finance Loans 511

Housing Wire

DECEMBER 30, 2024

All the housing market data for 2024 is in, and its fair to say that the housing market surprised us again! However, there are two big trends that stand out as we launch into 2025 affordability and sellers in the market. In the last few months, the market finally saw some sales growth over the previous year.

Marketing 543

Marketing Sales Mortgages As-is 543

Housing Wire

MARCH 8, 2024

Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. For now, we can say the labor market isn’t tight anymore, but it’s also not breaking. At the time this would be a speedy labor market recovery, and it happened on schedule, too Total employment data 4.

Marketing 511

Marketing Mortgages As-is Finance 511

Housing Wire

SEPTEMBER 10, 2024

Rocket Companies , the parent of Rocket Mortgage , has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform. billion in volume during these six months, trailing only United Wholesale Mortgage ($60.7 Rocket originated $42.3

Mortgages 459

Mortgages Marketing Principal Technology 459

Housing Wire

OCTOBER 7, 2024

Ironically, a strong employment situation in the country drives the bond market to higher rates. After the recent lows with mortgage rates this week, the 30-year fixed rate jumped back up over 6.5%. The purchase market is slower to respond, and the data now is still showing the positive impact of lower rates of recent weeks.

Mortgages 476

Mortgages Marketing Sales As-is 476

Housing Wire

AUGUST 8, 2024

Although there is no doubt that business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement are going to impact how real estate industry professionals operate, economists aren’t too sure they’ll have much bearing on the housing market. “I

Debt-to-income ratio 488

Debt-to-income ratio Marketing Mortgages Days on market 488

Housing Wire

AUGUST 5, 2024

sent shockwaves through financial markets around the world on Monday. mortgage market , which has already seen big interest rate declines in the past week following a Fed meeting that teased forthcoming cuts to benchmark interest rates, along with a much weaker-than-expected jobs report. Fears of a recession in the U.S.

Mortgages 501

Mortgages Marketing Fixed-rate mortgage Loans 501

Housing Wire

DECEMBER 28, 2024

The most positive development in the housing market over 2024 has been the increase in active housing inventory , which is approaching the levels seen in 2019. Although those 2019 levels represent a five-decade low before COVID-19, the market was still functioning better than it did from 2020 to 2023. Weekly inventory change (Dec.

Marketing 514

Marketing Mortgages Sales Finance 514

Housing Wire

JULY 15, 2024

If we look at the housing market right now, sales are down, new listings are down and prices are decelerating. Good inflation data came in last week, the bond market rallied and mortgage rates took a notable dip below 7% for the first time in months. Maybe we’re finally past the peak of mortgage rates ? Inventory is 38.5%

Mortgages 497

Mortgages Marketing Sales As-is 497

Housing Wire

OCTOBER 7, 2024

In time for a fall homebuying season that could be busier than usual due to lower mortgage rates , Opendoor has made appointments to a pair of vital roles. In June, Opendoor partnered with the privately owned My State MLS, which serves 60,000 agents in more than 50 markets. They’re both expected to begin work at Opendoor in November.

Technology 447

Technology Finance MLS Title 447

Housing Wire

SEPTEMBER 19, 2024

Like the traditional forward space, the reverse mortgage industry has been operating in an elevated interest rate environment for some time. Kristen Sieffert At industry leader Finance of America (FOA), company president Kristen Sieffert said that the impact on both the company and the industry will be very evident.

Mortgages 493

Mortgages Lending Finance Industrial 493

Housing Wire

NOVEMBER 21, 2024

Home prices firmed up in today’s existing home sales report , but we caught on to this trend two months ago with our Housing Market Tracker. As part of our tracker, we focus on purchase application data, and I am always looking to see what level of mortgage rates gives us growth in purchase apps. However, that didn’t happen.

Mortgages 491

Mortgages Finance Sales As-is 491

Housing Wire

SEPTEMBER 5, 2024

Declining mortgage rates have yet to break the dam on the stalled housing market, but the sweet spot on rates that would get the market moving again is about 5%. That’s according to a new survey from Mphasis Digital Risk, which revealed that 42% of prospective buyers said a 5% rate would get them back in the market.

Mortgages 493

Mortgages Marketing Construction Sales 493

Housing Wire

FEBRUARY 5, 2024

Effective March 1, the credit will be available for homebuyers earning 50% of area median income (AMI) or less through Freddie Mac’s Home Possible and Housing Finance Agency (HFA) Advantage mortgage products. The credit can be used for down payments, closing costs, escrow and mortgage insurance premiums.

Mortgages 526

Mortgages Closing costs Finance Loans 526

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.

Industrial 514

Industrial Seller concession Purchase and sale agreement Agents 514

Housing Wire

JULY 30, 2024

As the mortgage and real estate markets continue to face challenges, nearly 800,000 low down payment home purchases in 2023 leveraged private mortgage insurance (PMI), with first-time homebuyers accounting for 64% of the total. Mortgage Insurers (USMI). trillion in mortgages. The vast majority of this total ($1.4

Mortgages 459

Mortgages Finance Loans Industrial 459

Housing Wire

SEPTEMBER 30, 2024

Two of the top five lenders in the reverse mortgage industry are now engaged in a legal skirmish over marketing practices that one lender calls deceptive. Longbridge Financial , a top five reverse mortgage lender and servicer based in New Jersey, is suing Mutual of Omaha Mortgage over a series of websites maintained by the latter.

Mortgages 457

Mortgages Marketing Equity Branding 457

Housing Wire

OCTOBER 31, 2024

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), is one of the owners of Next Door. The analysis includes first-lien mortgage originations.

Lending 489

Lending Mortgages Loan Officer Principal 489

Housing Wire

MAY 25, 2024

The mortgage rate lockdown premise holds that very few people will list their homes when mortgage rates are this high, thus suppressing inventory. 2024 has had healthy inventory growth despite mortgage rates above 7%. When mortgage rates increase, demand falls, and the price-cut percentage grows.

Mortgages 521

Mortgages Banks As-is Finance 521

Housing Wire

NOVEMBER 11, 2024

Zillow is moving full speed ahead with an ambitious expansion of its mortgage business, leveraging its housing tech innovations to potentially reshape how modern homebuyers finance homes. billion in purchase mortgage business, not far off a top 50 spot on the mortgage leaderboard. That’s an annualized $3.2

Mortgages 459

Mortgages Loan Officer Loans Agents 459

Housing Wire

APRIL 17, 2024

The Federal Housing Finance Agency (FHFA) this week announced a new product proposal for government-sponsored enterprise (GSE) Freddie Mac that would allow the agency to purchase certain single-family, closed-end second mortgages. This is specifically designed to benefit consumers during the high rate environment, the agency said. “In

Closing 529

Closing Mortgages Equity Loans 529

Housing Wire

SEPTEMBER 24, 2024

After the Federal Reserve lowered benchmark interest rates by 50 basis points last week, mortgage rates continued to move lower, although at a slower pace compared to recent weeks. At HousingWire ‘s Mortgage Rates Center on Tuesday, the average 30-year conforming loan rate was 6.25%, down 9 basis points from a week ago.

Mortgages 468

Mortgages Loans Finance Sales 468

Housing Wire

OCTOBER 18, 2024

Indiana-based lender Ruoff Mortgage is making a move designed to help more homeowners get into new homes with ease. Ruoff Mortgage is teaming up with fintech company Calque to offer two “buy before you sell“ programs to customers. The Trade-In Mortgage — Calque’s most popular program — functions similar to a vehicle trade-in.

Purchase and sale agreement 448

Purchase and sale agreement Mortgages Equity Finance 448

Housing Wire

MAY 6, 2024

home prices continued to climb in March as a persistent shortage of homes for sale helped to buoy the housing market, according to the Intercontinental Exchange (ICE) Home Price Index. Nationwide equity on mortgaged homes soared to a record $16.9 months of supply, inventory is still historically low and indicative of a seller’s market.

Equity 497

Equity Mortgages Finance Loans 497

Housing Wire

AUGUST 22, 2024

The Federal Housing Finance Agency (FHFA) on Wednesday updated its capital requirements for private mortgage insurers and allowed rules established during the COVID-19 pandemic to sunset. According to the USMI, private mortgage insurers held more than $26.8 Companies will have two years to fully implement the changes.

Mortgages 459

Mortgages Loans Commercial Finance 459

Housing Wire

SEPTEMBER 3, 2024

With elevated mortgage rates having persisted over the past two years, Federal Reserve Chair Jerome Powell indicated recently that a cut to the federal funds rate at this month’s meeting of the Federal Open Market Committee (FOMC) is on the table, which would likely have the effect of driving mortgage rates lower.

Mortgages 468

Mortgages Equity Finance Lending 468

Housing Wire

OCTOBER 16, 2024

Mortgage applications decreased 17% from one week earlier as mortgage rates surged, according to data from the Mortgage Bankers Association ’s (MBA) weekly application survey for the week ending October 11, 2024. The refinance index decreased 26% from the previous week and was 111% higher than the same week one year ago.

Mortgages 520

Mortgages Loans As-is Marketing 520

Housing Wire

AUGUST 13, 2024

The CFPB has found that investors are targeting people of faith with predatory mortgage products that set the borrower up to fail,” CFPB Director Rohit Chopra said in a statement. The government is taking action to ensure that these products do not turn the dream of homeownership into a nightmare.” among subprime loans.

Mortgages 481

Mortgages Land Lending Finance 481

Housing Wire

JANUARY 14, 2025

Mortgage rates continued their ascent this week after Fridays jobs report showed that employers added more positions than expected in December, which is likely to cement a pause on interest rate cuts by the Federal Reserve later this month. when the Federal Open Market Committee (FOMC) wraps up its next meeting on Jan.

Mortgages 418

Mortgages Banks Loans Finance 418

Housing Wire

DECEMBER 17, 2024

The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology. PACE loans which are often used to finance environmentally minded renovations, like the addition of solar panels have led to financial instability for some borrowers.

Loans 394

Loans Mortgages Finance Lending 394

Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. FOA President Kristen Sieffert said the product allows the company to address gaps in the existing HELOC and traditional home equity loan market.

Mortgages 432

Mortgages Equity Loan Officer Loans 432

Housing Wire

AUGUST 27, 2024

Even as the real estate and mortgage markets are seeing light at the end of the tunnel following two difficult years of conditions, mortgage rates have yet to ease enough to create a surge of demand for purchase loans and refinances. The market has repriced accordingly, raising expectations of a 50 bps cut.

Mortgages 459

Mortgages Loans Finance Brokerage 459

Housing Wire

SEPTEMBER 12, 2024

Baby boomers are a key constituency for the reverse mortgage industry since they are currently the generation with the largest share of the population at or above the age of 62. A recent SmartAsset analysis of 2023 Home Mortgage Disclosure Act (HMDA) pinpointed where boomers are most active within the U.S. housing market.

Marketing 468

Marketing Finance Mortgages Industrial 468

Housing Wire

AUGUST 14, 2024

Denver-based Realtor Bret Weinstein took on a client whose house had been on the market for 60 days. The deal is indicative of how details matter in a market like Denver where home-price growth has slowed dramatically after a surge in post-pandemic migration to the metro area caused valuations to rise sharply in a short period of time.

Marketing 468

Marketing New Construction Finance Staging 468

Housing Wire

AUGUST 4, 2024

Mortgage rates moved massively lower last week without any Federal Reserve rate cuts, primarily because the labor market is getting softer. Can mortgage rates go even lower? As we can see below, when the market priced economic weakness earlier in 2024, it took the 10-year yield down toward 3.80% but didn’t break that level.

Mortgages 518

Mortgages Banks As-is Closing 518

Housing Wire

OCTOBER 10, 2024

With trading markets currently pricing in two 25 bps [interest rate] cuts — one each in November and December — and continued signs that inflation is waning, it seems that markets are correctly pricing in these cuts,” said Realtor.com Senior Economist Ralph McLaughlin in a statement. in September from 5.2% peak in March 2023.

Mortgages 459

Mortgages Marketing MLS As-is 459