Housing markets

Mortgage volume continues to surge, driven by borrowers refinancing behind record-low interest rates, according to Ellie Mae.

Southern California home sales and prices surged higher in September, the latest evidence of a hot housing market during the global COVID-19 pandemic.

The number of bidding wars increased for the fifth straight month, with Salt Lake City posting the highest rate of competitive listings in two years, according to Redfin.

The Bay Area real estate market continued its roaring recovery in September, as buyers took advantage of ultra-low mortgage rates to scoop up a shrinking number of homes for sale at an astonishing pace.

New-home starts increased in September on a sharp gain in single-family house construction while building permits climbed, indicating residential building had plenty of momentum at the end of the third quarter.

With record low mortgage rates driving buyer demand, home sales and prices spiked in September, shrinking the supply and days on market, according to Remax.

A gauge of builder sentiment climbed to 85, the highest in records back to 1985, from 83 a month earlier, according to the National Association of Home Builders/Wells Fargo Market Index released Monday.

For many borrowers who might have qualified for conventional financing before the pandemic, non-QM loans are the only path forward toward homeownership.

This year will top the total volume generated in the housing boom year of 2003. Meanwhile, next year's 30-year FRM is predicted to stay at 2.8%.

In the Philadelphia metropolitan area, the number of homes that sold in 10 days or fewer jumped from about 1,730 in September 2019 to roughly 4,250 last month.

While spiking from the year before, mortgage applications to purchase new homes fell in September from August, with low supply and high unemployment keeping it in check, according to the Mortgage Bankers Association.

Lower-than-expected rates will drive mortgage production this year, but they’ll have less of an impact in 2021.

California house sales will rebound slightly next year from the pandemic, and home prices will continue edging upward, thanks to rock-bottom mortgage rates and strong homeownership demand, according to the California Association of Realtors.

Providers, including investors in low-income housing tax credits, have become hesitant to make deals.

One could change how commercial property is taxed, the other could change rent control policies. Both might affect financing.

While overall mortgage delinquency rates slowly descend, serious delinquencies — especially loans past 120 days due — jumped in July, according to CoreLogic.

San Francisco's residential real estate market saw brisk activity from July through September with a steep increase in both sales and inventory, as a significant jump in buyers was not enough to keep up with the deluge of new condos and homes flooding the marketplace.

The metro areas surrounding New York, Washington, Philadelphia and Baltimore face the highest risk of impact from the pandemic based on home affordability, equity and foreclosures.

With millions out of work, and restaurants, shops and retailers closing, one spot in the economy shines for thriving and affluent professionals — Bay Area real estate.

Mortgage rates remained flat this week, a sign that the bottom has possibly been reached, but the housing market looks to remain strong for the near future, according to Freddie Mac.