Homebuyers increasingly seek ARMs as mortgage rates soarÂ
Homebuyers facing affordability challenges are turning to ARMs to reduce their monthly payments as mortgage rates have more than doubled.
Homebuyers facing affordability challenges are turning to ARMs to reduce their monthly payments as mortgage rates have more than doubled.
Temperatures are slowly starting to rise in many parts of the country â and so is homebuilder sentiment, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report.
Mortgage rates rise again, creeping closer to 7% CNN
Mortgage demand drops to a 25-year low, as interest rates climb CNBC
Mortgage rates fall to levels last seen in September CNN
Builder confidence continued its downward spiral in November, and builders are now turning to mortgage buydowns to bring in buyers.
Sales of new U.S. homes rose for a third month in December, wrapping up an otherwise disappointing year in which soaring borrowing costs stifled demand and weighed on the economy. Purchases of new single-family homes increased 2.3% to an annualized 616,000 pace after a downward revision to the prior month, government data showed Thursday. The … [Read more…]
Mortgage rates are falling and builders are offering incentives to buyers, but that wasnât enough to prop up new home sales in 2022.Â
Do you know what âsplootingâ is? Hereâs a hint: 4-legged animals do it. (Hey, I donât make these things up.) Quite the word. Words are very interesting, and can incite a riot, help someone get through a loss, make up this Commentary, entertain. Every morning I share my Wordle results with a few friends, comparing who was able to find the 5-letter word of the day in the fewest tries. For the most part Wordle is quick, fun, and mildly entertaining, which is the exact opposite of financing a home as any borrower or loan originator will tell you. Originate? âOriginâ: source, inception, root means the point at which something begins its course or existence. Origin applies to the things or persons from which something is ultimately derived and often to the causes operating before the thing itself comes into being. âateâ is a suffix meaning âstate of quality ofâ and when added makes an adjective a verb. Originate, tolerate, stimulate, nominate, dislocate, penetrate, intimidate⦠there are thousands of words with -ate on the end. And as many of us are in, or head to, San Diego for the MBAâs conference, origination volumes, margins, and revenues will certainly be discussed, as will attempting to lessen the friction that each loan goes through during processing and closing. It is important to remember that weâve helped millions of families by originating their loans and save billions of dollars, and will continue to do so. (This weekâs podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking. Todayâs has Part One of an interview with Keller Williams Scott Agnew on navigating through uncertain times and what the industry has learned since 2008.)
With December marking 12 consecutive months of declines in builder confidence, builders are looking to incentives to drive sales.