Origination

“There have been a handful of pieces of relatively good news for the housing market lately, but we’re far from out of the woods,” said Taylor Marr, Redfin’s Deputy Chief Economist.

Redfin is reporting that a record number of sellers are taking their properties off the market. Click through to find out how many sellers are taking this route.

Riding the hopes that the Federal Reserve will slow its pace of rate hikes, Freddie Mac reported that the 30-year, fixed-rate mortgage fell yet again, as house prices soften with 2022 coming to a close.

“It is the sacred duty of community leaders, policy makers, and financial industry specialists to lift communities so that all children can thrive and grow up with opportunities for good health, wealth, and happiness in their lives,” said NAREB President Lydia Pope.

The maximum loan limits for FHA forward mortgages will rise in 3,222 U.S. counties next year, while in just 12 counties, loan limits will remain unchanged.

After two weeks of increases in overall mortgage application volume, a holiday-shortened week found volume slipping slightly, despite the 30-year fixed mortgage rate dropping to 6.49%.

NAR reports that month-over-month, contract signings fell in three of four major U.S. regions, with only the Midwest showing signs of improvement.

In most of the U.S., the 2023 CLL value for one-unit properties will be $726,200, an increase of $79,000 from $647,200 in 2022.

Aggressive rate hikes coupled with sky-high home prices mean buyers are bleeding money.

After a historic decline in mortgage rates last week, a second consecutive week of rate drops has given way to a 2.2% rise in overall mortgage applications.