Housing markets

Down payment assistance programs allow lenders to take concrete action to promote the Mortgage Bankers Association's "Home for All" initiative. Chrane details the issues to navigate in using them.

While the intensely competitive market has deterred some from looking for a place to move to, rising valuations allow for more funds to be accessed to pay for repairs.

The share of existing properties acquired by single-family rental providers has fallen by 24 percentage points since 2019, while surging BFR numbers made up much of the difference.

Nationally, prices jumped 19.2%, the fourth-biggest jump in data going back 35 years.

A majority of housing experts also believe first-time homeownership should hit 2019 levels again within four years; however, a substantial number don’t expect it this decade.

As the effects of the pandemic continue to reshape the rhythms of the industry, mortgage lenders and brokers others predict a busy, competitive landscape but say more non-QM loans will fill volume gaps caused by low supply.

While the median income rose 1% over the last year, the median price of a home rose a staggering 25%, according to the the Federal Reserve Bank of Atlanta.

More properties on the market are also selling quicker, with almost 60% now receiving accepted offers within two weeks.

A gauge of U.S. pending home sales fell unexpectedly in February for a fourth straight month as limited inventory continued to restrict a real estate market that’s now facing another challenge — rising borrowing costs.

Federal Reserve Governor Christopher Waller said longer-run structural issues will continue to put upward pressure on home prices and rents even as the central bank begins a campaign to raise borrowing costs.

Sales of new U.S. homes fell in February for a second month, suggesting high prices and rising mortgage rates may be keeping prospective buyers on the sidelines.

The company is currently listing houses at prices that are 17% higher than it acquired them for.

Shrinking inventory of homes for sale and higher demand motivated by rising mortgage rates spurred buyers into action, the company found.

Contract closings decreased 7.2% in February from the prior month to an annualized 6.02 million, figures from the National Association of Realtors showed Friday.

The builder reported better-than-expected quarterly orders as the record shortage of existing-home listings pushed buyers toward newly built properties.

All indicators show that the renting market is heating up, as would-be buyers of houses increasingly turn to rentals because they can’t find — and can’t afford — their dream houses.

Value can be found despite concurrent double-digit increases in both home values and rent rates in some of these cities.

CoreLogic reported a 19.1% rise in annual appreciation but also noted that several of today’s hot markets are overvalued or at risk of declines.

Mortgage companies can open doors to homeownership for more minorities by incorporating low-down-payment financing options; closing cost credits; down-payment assistance; diverse, in-market sales teams ready to provide access and support; and more, writes the chair of the Mortgage Bankers Association.

Sales of new U.S. homes retreated in January after a flurry of purchases at the end of 2021, indicating a jump in mortgage rates may be starting to restrain demand.