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Soft Landing from Pandemic Could Mean Less Inventory, Higher...

Lower Rates Stoked Refinancing During Post Holiday Week

Consumers Gloomiest in a Decade, But Still A Great Time to Sell

Lower Appreciation Not Yet Reflected in Annual Gains

ATTOM: Mortgage Market Might Not Be Cooling, But it Has Reversed...

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Mortgage Rates Hold Steady After Moving Higher Earlier This Week

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Mortgage Rates Move Higher Again

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Soft Landing from Pandemic Could Mean Less Inventory, Higher Prices; Lower Rates Boosted Refis

Published: 12/8/2021

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MND NewsWire features plain and simple interpretations of industry related data and events written in a manner that maintains the interest of random readers while still catering to the perspective of a housing market professional.

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Credit Access Remains Tight

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by Jann Swanson on November 09 2021, 3:47 PM

Mortgage credit availability did little to crawl back to pre-pandemic levels last month. The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) inched up only 0.1 percent in October to 125.7. A decline in the MCAI indicates...
Shift to Cash-Out Refis Becoming Apparent

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by Jann Swanson on November 08 2021, 12:25 PM

Black Knight says rate locks declined 5.9 percent in October on top of a 10 percent decrease in September. Purchase mortgage locks and those for cash-out refinances were a wash last month, the former were up 0.4 percent for the month and the latter dipped...
Zillow Offers Shuts Down

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by Jann Swanson on November 08 2021, 7:56 AM

One of the original and most well-known housing market IBuyers has bit the dust. Zillow announced last week that it is discontinuing its Zillow Offers , a program through which the company bought homes directly from owners, made necessary improvements...
Forbearances Drop 100K Over Last Two Weeks

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by Jann Swanson on November 05 2021, 8:12 AM

Following a quiet week in which only 19,000 homeowners exited forbearance, Black Knight reports that the week ended November 2nd saw 85,000 departures. The typical month-end surge marked the final expiration of many forbearance plans which have a maximum...
Learning from Wall Street's Edge in Buying Fixer Uppers

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by Jann Swanson on November 04 2021, 12:08 PM

The block purchases of single-family houses by institutional investors, which began during the housing and foreclosure crisis, was first credited with putting a floor under the housing market in 2010 through 2012. Since then, it has been blamed for keeping...
GSE Seeks Inclusion of Rent in Credit Scores

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by Jann Swanson on November 03 2021, 11:40 AM

Freddie Mac is joining Fannie Mae in including timely rent payments into the assessment of homebuyer credit. Fannie Mae's president, Hugh Frater announced a program in August that would allow lenders to use Desktop Underwriter to submit a history of recurring...
Homeownership Rates Decline in Every Category

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by Jann Swanson on November 03 2021, 8:53 AM

The U.S. Census Bureau reports that homeownership was unchanged in the third quarter of 2021 from the rate in the second quarter, 65.4 percent, but was down two full percentage points year over year. The rate had been climbing out of the 62.9 percent...
Refi Share of Mortgage Applications Continues to Shrink

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by Jann Swanson on November 03 2021, 5:28 AM

The volume of mortgage applications as measured by the Mortgage Bankers Association's (MBA's) Market Composite Index declined during the week ended October 29. The Index was down 3.3 percent on a seasonally adjusted basis and 4 percent unadjusted when...
Breaking Down The Details on Huge Home Price Appreciation

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by Jann Swanson on November 02 2021, 12:16 PM

CoreLogic says that demand for homebuying remained strong through the end of summer. Along with the ongoing shortage of available homes, demand drove the annual price increase for September to 18 percent. Prices rose 1.1 percent compared to August. The...
Residential Construction Spending Fades for Second Month

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by Jann Swanson on November 02 2021, 9:57 AM

Construction spending decreased 0.5 percent from August to September according to data released by the U.S. Census Bureau. Total spending was at a seasonally adjusted annual rate of $1.574 trillion, 7.8 percent more than was spent in September 2020. Residential...
Fannie/Freddie Report Lower Quarterly Revenues, Profits

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by Jann Swanson on November 01 2021, 12:26 PM

Fannie Mae and Freddie Mac (the GSEs) reported their respective third quarter 2021 financial results on Friday. Both posted significant increases in net income from the same period in 2020 but results for each were lower than reported in Quarter Two....
Black Knight Sees Remaining Potential, Upcoming Shift in Refis

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by Jann Swanson on November 01 2021, 7:54 AM

Black Knight says that, amid all of the aid and stimulus provided to keep the economy rolling along during the pandemic, one aspect that doesn't get a lot of attention is refinancing . Black Knight points out in its current Mortgage Monitor that 14.3...
Millennial Homebuying Share Correlates with High-Tech Job Opportunities

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by Jann Swanson on October 29 2021, 9:29 AM

The Millennial Generation, adults born between 1981 and 1996, were late bloomers when it came to buying a home. They came of age just in time to be clobbered by the Great Recession, have been burdened by high levels of student debt, were slow to form...
Mortgage Fraud on the Rise, Purchase Applications Vulnerable

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by Jann Swanson on October 28 2021, 12:51 PM

There was a big jump in the incidence of mortgage fraud over the course of the last year. CoreLogic's annual report for the second quarter of 2021 reports that one in 120 mortgage applications (0.83 percent) submitted during that period showed indications...
Was August the Turning Point for Home Prices?

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by Jann Swanson on October 26 2021, 10:53 AM

There were further indications in August that home price gains are beginning to slow. The appreciation rate of the Federal Housing Finance Agency's (FHFA's) House Price Survey (HPI) retreated slightly on both a monthly and an annual basis while the various...

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