Category: Correspondent Lenders
In mid-November, the National Association of Realtors gathered for a conference in San Diego to discuss where the housing market is headed in 2016. Economists discussed both the advantages and limitations that a buyer or mortgage investor could face in the upcoming year. The major takeaway: Despite growing concerns for rising property costs, home sales are expected to continue rising, albeit more slowly, in 2016.The forecast The star of the conference seems to have be
The mortgage market is particularly strong today, following a month when home price appreciation slowed and interest rates remained low. Within the past week, mortgage applications soared nearly 12 percent compared to the prior week. That's despite continued concerns regarding TRID implementation that some worried would impact loan originations. Though it may take some consumers longer to receive their loans as lenders work through new processes, it's clear that demand remains strong
U.S. homeownership numbers declined sharply following the financial crisis, and it remains unclear if they will ever fully recover. Recent weeks brought some good news, however, as the rate rebounded for the first time in a while. Increased homeownership likely has several causes, but improved inventory and a rush to lock in low interest rates prior to a potential Federal Reserve rate hike are major contributors. This increase doesn't necessarily signal a return to the heady day
Inventory in the most in-demand U.S. metro areas continues to push home prices higher. Research firm CoreLogic's June 2015 home price report revealed home prices grew 6.5 percent between June 2014 and the same time this year. The price increases in June mean the market has seen 40 consecutive months of price growth, and 15 states saw prices hit their highest levels ever.
The rampant appreciation has several causes, but is rooted in declining inventory, particularly the smaller
Low inventory has pushed home prices upward in high-demand areas, but buyers seem undeterred. The most recent report from the National Association of Realtors revealed that almost half of the homes sold in May were purchased after less than a month on the market, demonstrating the strong interest in homebuying sweeping the country.
The increase in home prices is largely due to first-time homebuyers, and could signal a shift toward increased homebuying in c
Home prices rose substantially across the nation in May as increased demand created competition for limited housing inventory. CoreLogic's May home price report found a 6.3 percent overall monthly increase in home prices, which made May the 39th consecutive month to yield price gains.
Interest rates on mortgages remained below 4 percent during May, which likely contributed to increased homebuying activity. The biggest increases in home prices occurred in areas that have s