“Elevated mortgage rates are preventing would-be buyers from buying and would-be sellers from selling. And because sellers aren’t selling, the buyers who are out there have very limited options,” said Redfin Chief Economist Daryl Fairweather.
Read More »Industry Experts Take to Capitol Hill to Debate LLPAs Changes
The House Financial Services Committee hosted a panel featuring Edward J. DeMarco of the Housing Policy Council and NAR President Kenny Parcell discussing loan-level price adjustments used by Fannie Mae and Freddie Mac and their impact on the mortgage marketplace.
Read More »Everything Is Negotiable (Including Home Prices)
“First-time homebuyers are active and those entering the market have an edge as sellers are negotiating more and giving buyers a chance,” said RE/MAX President and CEO Nick Bailey.
Read More »New Home Purchase Apps Rise 4% YoY
The MBA reports April marked the third consecutive month of year-over-year growth in new home purchase apps, as the mortgage rate environment continues to factor into homebuying and selling decisions.
Read More »Jeremy Hofmann Promoted to CFO of Zillow Group
Assuming the role of CFO from Allen Parker, Hofmann will oversee Zillow's finance, corporate development, strategy, and investor relations teams.
Read More »The Week Ahead: Balancing the Economy and Housing
An upcoming webinar will feature Patrick F. Stone, and Economist Dr. Bill Conerly analyzing the economy and its impact on housing, and provide predictions on the upcoming quarter and the remainder of 2023.
Read More »Rates Keeping Many Prospective First-Time Homebuyers on Sidelines
Freddie Mac reports that, after retreating for two consecutive weeks, the 30-year fixed-rate mortgage edged back upward this week, nearing the 6.40%-mark, and forcing app volume downward.
Read More »‘Bouncing Back and Forth’: Existing-Home Sales Drop in April
"Home sales … remain above recent cyclical lows," said National Association of Realtors Chief Economist Lawrence Yun, who noted that economic factors were creating “an environment of push-pull housing demand.”
Read More »Independent Mortgage Bank Origination Profits Take Q1 Hit
As the industry continues to face challenging conditions, the MBA reports that independent mortgage banks have endured four consecutive quarters of production losses, and nine consecutive quarters of volume declines.
Read More »Housing Market Struggles Headed Into Peak Summer Season
“The housing market remains sluggish heading into the spring homebuying season. While mortgage rates have retreated from recent peaks, they remain elevated compared with one year ago,” Chief Economist Mark Fleming said.
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