Housing Wire

NOVEMBER 4, 2024

As high mortgage rates reshape the housing market, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. Recently, the “lock-in effect” has kept homeowners with historically low-rate mortgages from selling, but this effect is easing. year over year in September.

As-is 370

As-is Marketing Construction New Construction 370

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. range, which is a normal mortgage market.” 4-7, in Las Vegas.

Mortgages 493

Mortgages VA loan Finance Renovation 493

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% We do not see new construction returning in a meaningful way any time soon. “The Will Savage, an LO at PMC Mortgage.

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

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. So, they prepay the mortgage and sell the property, or sell it once the mortgage matures. “A

New Construction 511

New Construction Finance Construction Mortgages 511

Housing Wire

NOVEMBER 22, 2023

Mortgage rates dropped significantly in the last few weeks, but the cost of borrowing remains high prompting many homebuyers to wait for even lower rates. The 30-year, fixed mortgage rate averaged 7.29% for the week ending Nov. 22, according to Freddie Mac ‘s Primary Mortgage Market Survey.

Mortgages 476

Mortgages New Construction Construction Sales 476

Housing Wire

FEBRUARY 10, 2025

It also closed five RTL securitizations for nearly $2 billion and expanded its product suite by launching a new construction financing product. The company said that in 2024, it increased its active customer base to more than 5,500 (up 30% from 2023).

Lending 326

Lending New Construction Residential Investor 326

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

Fixed-rate mortgage 532

Fixed-rate mortgage Mortgages New Construction Construction 532

Housing Wire

NOVEMBER 16, 2023

Mortgage demand for new homes jumped in October as the inventory for existing homes remained depleted. Mortgage applications for new-home purchases rose 39.7% FHA applications reached highest share of new-home applications since 2013 In October, FHA applications represented 26.3% Conventional loans made up 63.6%

Mortgages 482

Mortgages VA loan Loans New Construction 482

Housing Wire

FEBRUARY 13, 2025

As the 21st transaction made under the company’s LHOME Mortgage Trust, Kiavi’s total volume of notes offered sits at $5.8 It also launched a new construction financing product for builders. billion since 2019. The company reportedly originated $6.5 billion in loan volume last year, up 46% from 2023.

Land 259

Land Investor Principal New Construction 259

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

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, This transition is said to build on other recent efforts by FHLBank Chicago to expand the availability of mortgage financing.

Banks 420

Banks Finance New Construction Construction 420

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. from a year ago.

Sales 487

Sales New Construction Construction MLS 487

Housing Wire

MAY 30, 2023

The average rate in March on a 30-year-fixed rate mortgage in March was 6.54%, with the rate dropping to 6.34% in April. Relatedly, the Federal Housing Finance Agency (FHFA) recorded a 4.3% increase in home prices in the first quarter of 2023 from the first quarter in 2022.

Mortgages 435

Mortgages Fixed-rate mortgage Construction New Construction 435

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

FEBRUARY 12, 2024

8. “With the acquisition of AFR, we will build on our already strong mortgage platform. residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions.

Lending 457

Lending New Construction Construction Finance 457

Housing Wire

APRIL 5, 2024

Headwinds like mortgage rates , low inventory and rising rents are still strong, but easing,” Zillow Senior Economist Orphe Divounguy, said in a statement. “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. .

Pre-approval 482

Pre-approval Marketing New Construction Construction 482

Housing Wire

JULY 27, 2023

Mortgage rates rose slightly this week ahead of the Federal Reserve Open Markets Committee ‘s rate hike. 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 6.81% as of July 27, up from last week ’s 6.78%.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans New Construction 370

Housing Wire

FEBRUARY 24, 2023

“January marked a surge of people signing contracts to buy new homes. The increase in contract signings can be attributed to a decline in mortgage rates in January after a run-up in rates in October and November ,” Holden Lewis, NerdWallet ’s home and mortgage expert, said in a statement. months in December.

Sales 459

Sales New Construction Construction Mortgages 459

Housing Wire

SEPTEMBER 27, 2023

Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. LenderPulse requests surveys from 24,000 mortgage professionals across the country on market trends and lender opportunities and challenges. in events to garner business. Roughly 36.3%

Mortgages 448

Mortgages Marketing Banks New Construction 448

Housing Wire

OCTOBER 25, 2023

New home sales figures exceeded projections in September despite mortgage rates at 23-year high, declining mortgage applications and waning builder confidence. In September, the sales pace of new homes picked up considerably, up 12.3% Meanwhile, the median sales price for a new house in September was $418,800, down 3.3%

Sales 448

Sales New Construction Construction Finance 448

Housing Wire

MAY 5, 2022

Mortgage rates are increasing and demand is beginning to level out. As existing home owners potentially put the brakes on buying new homes or on refinancing their existing ones, lenders will rely more on first-time buyers to cut down on attrition during the slowdown. The mortgage industry is behind the times.

Mortgages 370

Mortgages Technology Lending New Construction 370

Housing Wire

AUGUST 16, 2024

Large publicly traded homebuilders have gross profits margins above 20%, which means they can buy down mortgage rates to sell homes. New listing data has been at historically low levels for the past few years. Conclusion For single-family permits to start rising again, we will need lower mortgage rates.

Construction 535

Construction Residential New Construction Finance 535

Housing Wire

SEPTEMBER 25, 2024

Meanwhile, sellers who locked in a record-low mortgage rate of 3% or less during the pandemic have been reluctant to sell, limiting supply further and leaving fewer options for would-be buyers. In Florida, new housing inventory has not grown significantly: the number of newly listed homes stands at 43,081, an 8.8% homebuying process.

Investor 448

Investor New Construction Construction Residential 448

Housing Wire

SEPTEMBER 26, 2023

However, mortgage applications for new home purchases increased 4% between July and August, the strongest pace of sales in three months. Homebuilders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction,” Bright MLS Chief Economist Lisa Sturtevant said.

As-is 511

As-is Sales New Construction MLS 511

Housing Wire

FEBRUARY 4, 2021

Qualify for the lowest mortgage rate you can. Fortunately, record-low mortgage rates can help offset those rising prices — that is, if you can snag them. A mortgage pre-approval is non-negotiable in this environment. Need a real estate agent? Here’s how to pick the right one. just this year. The long and short of it?

Earnest money deposit 546

Earnest money deposit Pre-approval Marketing New Construction 546

Housing Wire

AUGUST 14, 2024

The loss of population has softened housing demand, as has the rapid rise in mortgage rates that began in the spring of 2022. In addition, a sizable amount of the inventory is new construction, and builders are able to offer better financing terms for buyers with their in-house mortgage businesses.

Marketing 468

Marketing New Construction Finance Staging 468

Housing Wire

DECEMBER 29, 2023

And with the ability to buy down consumers’ mortgage rates while still maintaining double-digit margins, new construction grew to comprise roughly 30% of total housing inventory in 2023, more than double a normal year. Let’s look at the new construction forecast for 2024. The business appears durable, too.

Construction 476

Construction New Construction Lending Sales 476

Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. According to Lawrence Yun, chief economist and senior vice president of research at NAR , “mortgage rates are likely to be past their peak and on the way downward.” since May of this year, the 4.2

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages New Construction Loans 370

Housing Wire

NOVEMBER 7, 2024

homebuilding industry to Fannie Mae’s accomplished and diverse board, which guides the company’s efforts to responsibly expand access to mortgage credit and finance quality, affordable rental housing ,” the company said in a statement. Stowell brings nearly 40 years of experience in the U.S. Board chair Michael J.

New Construction 370

New Construction Residential Construction Industrial 370

Housing Wire

NOVEMBER 30, 2023

As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. New home sales fell 5.6% Pending home sales in October fell to their lowest level since 2001.

Sales 497

Sales New Construction Construction Mortgages 497

Housing Wire

FEBRUARY 1, 2021

However, new construction trends do not reflect this changing preference. Of builders surveyed, 44% say that buyers’ ability to qualify for a loan is one of the biggest obstacles for taking on a new project. And 71% say that interested buyers are often unable to secure financing.

Finance 435

Finance New Construction Industrial Staging 435

Housing Wire

DECEMBER 7, 2020

The reasons for that are solid demographics and low mortgage rates , which will not change much in 2021. Due to the solid demand for homes, housing supply for both new and existing homes are at all-time lows. New Home Supply. The monthly supply for new homes is currently at 3.3 Now mortgage rates are far from 4.5%-5%.

Construction 545

Construction Mortgages Sales Finance 545

Housing Wire

JUNE 6, 2023

All 12 Federal Reserve districts have seen issues with a lack of housing inventory , which is largely due to existing homeowners holding back on listing their homes after previously locking in low mortgage rates. A strong economy and relatively high mortgage rates have pushed some movers to the rental market, boosting demand.

Residential 459

Residential Construction Finance Sales 459

Housing Wire

OCTOBER 18, 2024

Single-family construction in earlier stages of construction are a bright spot in the data, with permits for one-unit housing rising 0.3% But with mortgage rates rising again and home prices continuing to hit all-time highs, the data doesn’t suggest relief for homebuyers is coming anytime soon. month over month.

Construction 459

Construction Staging New Construction MLS 459

Housing Wire

MAY 20, 2024

Remote work and historically low mortgage rates made it particularly attractive to buy a home. Second, homeowners have been reluctant to sell their houses due to mortgage rates, which have reached a two-decade high point. Many potential sellers prefer to keep their low rates rather than move and trade in for higher ones. “We

Sales 468

Sales New Construction Construction Mortgages 468

Housing Wire

APRIL 14, 2023

Since October of 2022, the share of buyers who are purchasing their home without a mortgage has been more than one quarter of the market. These all-cash homebuyers are happily avoiding the higher mortgage interest rates, which touched 7% in the fall of 2022 before trending down to the current rate of 6.28%. Today, the average is 2.7

Equity 459

Equity Investor New Construction Mortgages 459

Housing Wire

NOVEMBER 27, 2023

New home sales fell on a month-over-month basis in October, but continued to outpace last year’s levels. Meanwhile, low supply and high mortgage rates continued to dampen existing home sales. In October, new home sales reached a seasonally adjusted annual rate of 679,000, according to data published on Monday by the U.S.

Sales 448

Sales New Construction Construction Closing costs 448