In addition to a further drop in existing home sales, Yun said he expects the annual median home price to rise just 0.3% next year to $384,500.
U.S. pending home sales unexpectedly rose in December for the first time in seven months, wrapping up an otherwise poor year for a housing market battered by higher mortgage rates. The National Association of Realtors index of contract signings to purchase previously owned homes increased 2.5% last month to 76.9, according to a release Friday. … [Read more…]
The Housing Market Tracker shows that housing inventory decreased by 6,468 units, a more pronounced decline from the previous week.Â
Every lender or investor with an âaâ in their name seems to be subject to rumors and news in recent months. (More on Flagstar and American Pacific below.) Know anyone named âBernadetteâ? The name is actually Latin for, âThe act of torching a mortgage.â (Yes, it is cutting edge humor like that which brings you back.) Burning liens isnât a topic, but paying them off early is, and with mortgage rates off of their highs, early pay offs, or EPOs, were a conversation topic at the conference this week. And with it, loan officer compensation follows. Can a lender pay an originator based on pull through? Yes. Can lenders pay different originators under different payment plans, as long as the originator sticks with one plan? Yes. Can a lender, if they comply with state labor law, ask for compensation back after an EPO or EPD? Yes, and it may depend on the contract signed by both parties at the beginning of employment. As always, consult your in-house counsel or a lawyer well-versed in mortgage banking. While weâre on originators, occasionally I am asked about training for brand-spanking-new loan officers. No, this is not a paid ad, but veteran LO Tanya Blanchard has created Madison Chase Academy, â6 Months to 6 Figures: A Loan Officerâs Guide to a Profitable Businessâ with a sneak peak on the website. (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.)
Long-term mortgage rate hits lowest level in 4 months Fort Worth Business Press
The average rate on a 30-year fixed-rate mortgage rose above 7% for the first time since 2002, according to a widely watched survey from Freddie Mac.
Homebuyer competition is fading fast in these key places across the country.
Bond yields and mortgage rates have been falling since weaker inflation data was released, which is stabilizing the housing market. We’re on the verge of rates dropping below 6%.
The housing market is on fire, with home prices up 20% today compared to one year ago. But if you thought that the market couldnât get any hotter, and that things might start to cool off soon, think again, as analysts believe there are yet more home price gains in store for 2022. Goldman Sachs […]
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