Non-QM

Redfin reports that 2023 has begun with homes selling for nearly the same price as a year earlier, with nationwide prices up just 0.5% year-over-year.

Non-QM specialist adds 15-plus year industry veteran who will be responsible for assisting Mortgage Brokers and Correspondent Lenders scale their non-QM business operations.

The wild ride known as the U.S. housing market slowed dramatically in the fall of 2022, as mortgage rates surged and home prices remained high.

Freddie Mac reports that 2023 has begun with a second consecutive week of mortgage rate hikes, with app activity sinking to a quarter-century low as high rates continue to weaken the housing market.

Elevated mortgage rates continue to accentuate affordability concerns, keeping many prospective buyers out of the market. Meanwhile, the MBA reports application volume slid to close out 2022.

First American reports that between September 2022 and October 2022, rose nearly 9% month-over-month, with the rapid annual decline in affordability driven by a 12% annual increase in nominal house prices.

Freddie Mac reports the fixed-rate mortgage sliding for the sixth straight week, with the downward trend in rates resulting in a rise in refis, offsetting a week-over-week decrease in purchase activity.

The MBA reports that the downturn in mortgage rates has triggered homebuyer interest, as overall app volume has increased for the second consecutive week, and refinance activity rose 6% week-over-week.

Under HR 7735, servicemembers, veterans, and their families will have increased access to more affordable, sustainable homeownership opportunities through the Department of Veterans Affairs.

A panel of experts assembled by MReport provides their expert insights and perspectives into what 2023 may bring to the housing market, and whether a market correction is on the horizon.