Meanwhile, the NAR is forecasting that total home sales will maintain historically high levels next year, coming in second only to this year's expected record high.The forecast, released at the association's annual Realtor conference and expo in Orlando, Fla., calls for record existing-home sales of 6.55 million this year and 6.30 million next year, and record new-home sales of 1.17 million this year and 1.07 million in 2005. Housing starts are forecast at 1.93 million this year and 1.84 million next year. "At the beginning of 2004, forecasters were calling for a gradual rise in mortgage interest rates, but we've experienced a pleasant surprise for the housing sector," said NAR chief economist David Lereah. "The 30-year fixed-rate mortgage is now hovering close to 5.7%, and even though we're expecting rates to rise slowly, they will stay in a historically low range and a strong momentum of home sales will carry over into 2005."
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28