Housing Wire

OCTOBER 18, 2024

Since mortgage rates have headed higher again, I was anticipating that today’s housing starts report would be the last decent print before the effects of higher mortgage rates hit the builders, but even this report was disappointing. However, mortgage rates shot up again after the Federal Reserve cut rates on Sept.

Construction 379

Construction New Construction Residential Mortgages 379

Housing Wire

FEBRUARY 29, 2024

Mortgage rates continued to trend up this week and dampen homebuyer momentum. The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week ’s figure of 6.90%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 493

Mortgages Fixed-rate mortgage New Construction Construction 493

Housing Wire

DECEMBER 21, 2023

Mortgage rates stayed below 7% for the second week in a row, a welcome relief after a 17-week streak of above-7% rates. The 30-year, fixed mortgage rate averaged 6.67% for the week ending Dec. 21, according to Freddie Mac ‘s Primary Mortgage Market Survey. This week’s dip is the largest weekly drop since November 2022.

Mortgages 511

Mortgages Fixed-rate mortgage MLS New Construction 511

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 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

DECEMBER 19, 2023

New construction rose to a seasonally adjusted annual rate of 1,560,000, according to the U.S. Single-family building activity drove November residential construction activity. Despite the elevated mortgage rates , homebuilders’ sales have increased this year. Department of Housing and Urban Development and U.S.

Mortgages 459

Mortgages Construction New Construction Residential 459

Housing Wire

DECEMBER 4, 2024

The Federal Housing Administration (FHA) announced last week that the Home Equity Conversion Mortgage ( HECM ) limit for 2025 will be $1,209,750. Peter Sciandra, executive vice president of reverse lending and secondary marketing at Fairway Independent Mortgage Corp., Others are taking a more nuanced approach to the increase.

Mortgages 397

Mortgages Equity Lending Loans 397

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

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

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

DECEMBER 5, 2024

Highlands Residential Mortgage announced that Daniel McCoy is joining the company as a regional construction loan manager for the Southeast. Daniel McCoy McCoy leads the construction-focused McCoy Mortgage Team , which has previously affiliated with companies like MVB Mortgage , Intercoastal Mortgage and Cardinal Financial.

Residential 382

Residential Construction Loans Mortgages 382

Housing Wire

OCTOBER 19, 2021

Purchase mortgage applications for new homes were down 16.2% in September compared to a year ago, according to Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data released on Tuesday. The estimated pace of new home sales decreased 3.5% This is also marks a 4% decrease from the prior month.

VA loan 435

VA loan FHA loan Mortgages Loans 435

Real Estate News

MAY 20, 2024

With many owners of existing homes hesitant to give up their low mortgage rates, new homes continue to account for an outsize share of the market.

New Construction 312

New Construction Construction Sales Mortgages 312

Housing Wire

JUNE 29, 2023

Mortgage rates little changed this week as investors assessed Federal Reserve Chairman Jerome Powell ’s latest comments on rate hikes. Other mortgage indexes also show rates slightly rising. The 30-year fixed rate for conventional loans was 6.91% at Mortgage News Daily on Thursday morning, up one basis points from the previous week.

Mortgages 397

Mortgages New Construction Investor Construction 397

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

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

JULY 6, 2023

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed. The 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 6, up significantly from last week ’s 6.71%.

Mortgages 397

Mortgages Construction New Construction Investor 397

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior. Meanwhile, applications for refinancings fell by 7%.

Fixed-rate mortgage 396

Fixed-rate mortgage Mortgages Marketing Loan Officer 396

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. is likely to enter a recession,” Mike Fratantoni, Mortgage Bankers Association’s senior vice president and chief economist, said in a statement.

Mortgages 435

Mortgages Fixed-rate mortgage Loans New Construction 435

Housing Wire

JULY 20, 2023

Mortgage rates dropped to 6.78% this week, the biggest weekly decline since mid-March, as investors digested a raft of mixed incoming economic data. As inflation slows, mortgage rates decreased this week,” said Sam Khater, Freddie Mac ’s chief economist in a statement. By contrast, the 30-year was at 5.54% a year ago at this time. “As

Mortgages 368

Mortgages Fixed-rate mortgage New Construction Construction 368

Housing Wire

JUNE 3, 2021

Fickle mortgage rates rose once again last week, this time four basis points to an average of 2.99%, according to Thursday data from Freddie Mac ‘s PMMS. However, despite fluctuating sub-3% mortgage rates, borrowers are still competing in a supply strained and overheated market. Even though rates have been below 3.2% dropping 4.4%

Mortgages 370

Mortgages Construction New Construction Sales 370

Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. The expansion comes amid a surge in mortgage rates and declining loan origination volume.

Mortgages 397

Mortgages Loans Lending Construction 397

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s

Loan Officer 418

Loan Officer Mortgages Loans Closing costs 418

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 484

Sales New Construction Construction MLS 484

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

MAY 30, 2023

That said, the challenges posed by current mortgage rates and the continuing possibility of economic weakness are likely to remain a headwind for housing prices for at least the next several months.” 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.

Mortgages 435

Mortgages Fixed-rate mortgage Construction New Construction 435

Housing Wire

OCTOBER 21, 2020

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. The chart below shows interest rates for the 30-year fixed-rate mortgage will end this year at about 3% and could hit around 3.3%

Mortgages 435

Mortgages FHA loan Fixed-rate mortgage Loans 435

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.” Marketing support: White-label materials for brokers to brand and market their services along with a mortgage trigger lead pass-back program.

Lending 461

Lending New Construction Banks Renovation 461

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% of loan applications for new homes. In January, conventional loans accounted for 64.5%

VA loan 459

VA loan FHA loan New Construction Loans 459

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

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

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

JANUARY 18, 2024

Despite lower mortgage rates , housing starts ended the year on a downturn, after posting a large monthly gain in November. New construction starts fell to a seasonally adjusted annual rate of 1.460 million units, down 4.3% month over month, according to a report released Thursday by the U.S. Census Bureau and the U.S.

New Construction 488

New Construction Principal Construction Mortgages 488

Housing Wire

NOVEMBER 4, 2024

loanDepot has signed a new joint venture agreement with Smith Douglas Homes , a top-50 homebuilder with a solid book of business in the Southern states.

Purchase and sale agreement 303

Purchase and sale agreement Mortgages New Construction Lending 303

Housing Wire

FEBRUARY 26, 2024

The uptick in new-home sales underscores the persistent strength of demand in the housing market despite the challenges posed by winter weather. Mortgage rates rose last week to their highest level since mid-December, but homebuilders continue to navigate this landscape by offering interest rate buydowns and other concessions to buyers.

Sales 459

Sales New Construction Construction Development 459

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