MBA Survey: “Share of Mortgage Loans in Forbearance Decreases to 5.05%”
Note: This is as of March 14th. From the MBA: Share of Mortgage Loans in Forbearance Decreases to 5.05% The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 9 basis points from 5.14% of servicers’ portfolio volume in the prior week […]
Mortgage Rates End Week Near 1-Year Highs
Today ended up being fairly uneventful for mortgage rates –a welcome reprieve in the context of recent volatility. Actually, “volatility” is putting it mildly. 2021 has been a total rout for longer-term rates, even if 30yr fixed mortgages in the low-to-mid 3% range are historically excellent. That “historical context” argument is good perspective for the […]
Stark Contrast: Refi Records in February vs Interest Rate Carnage Since Then
Despite your thoughts on the term “fake news,” we have to talk about it in the context of mortgage rates . It’s highly pertinent, even if deception is far from the intention. Thursday is a big day for mortgage rate news because that’s when Freddie Mac’s weekly mortgage rate survey is published. Why does that […]
Refinance Activity Broke an Almost 9-Year Record in February
It hasn’t exactly been a scramble, but homeowners have stepped up their refinancing activity over the last two months as they saw interest rates begin a slow but steady march higher. The February Origination Insights Report from ICE Mortgage Technology shows the refinancing share of all loans originated during the month moved 1 point higher […]
Lumber Prices and Rising Rates Take a Toll on Builder Confidence
Escalating costs took a toll on builder confidence this month. The National Association of Home Builders (NAHB) said its Housing Market Index dipped two points from its February level. At 82 it is down 8 points from the all-time high it established last November. NAHB’s chief economist Robert Dietz said, while there is still a high […]
Repairers of the Breach
America’s history of racist housing policies inflicted staggering losses on Black Americans. Today, REALTORS® are playing a vital role in community efforts to acknowledge and repair the harm. www.nar.realtor – Fair Housing
Housing Market Update: Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier
The average sale-to-list price ratio passed 100% for the first time as home prices surge….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
South Carolina Real Estate in February: Sales Up 13% YoY, Inventory Down 46% YoY
Note: I’m posting data for many local markets around the U.S. The story is the same everywhere … inventory is at record lows. From the South Carolina Realtors for the entire state: Closed sales in February 2021 were 7,127, up 13.4% from 6,284 in February 2020. Active Listings in February 2021 were 14,253, down 46.3% […]
Commercial Real Estate and Economic Outlook
These slides were presented by NAR Chief Economist Lawrence Yun at NAR’s Commercial Real Estate Forecast Summit on March 10, 2021. www.nar.realtor – Research
Mortgage Rates Modestly Lower, But Hoping For More
At this point, no one should be surprised to hear that mortgage rates have moved significantly higher in 2021–especially in the past few weeks. There are several reasons for this, but the easiest way to make sense of it all is to say “rates were ultra low when covid was at its worst and they’ve […]