Tag Archives: National Association of Home Builders (NAHB)

As supply chain and bottleneck issues continue to impact the housing industry, Steve Adamo of Embrace Home Loans spoke with MReport about remedies to alleviate these concerns.

After weeks of hovering just above the 3% mark, mortgage rates changed course for the second straight week, reaching highs last seen prior to the pandemic.

Nationally, mortgage credit availability was on the rise to close out 2021, hitting levels last seen in May 2021, yet 30% below pre-pandemic levels.

Inflationary concerns, spurred by continued labor and supply chain issues, forced mortgage rates to jump by 0.23% this week, as rates rose across all mortgage loan types.

Despite overall mortgage app volume on the upswing to begin 2022, the rise in rates has dropped conventional refis to their lowest levels since January 2020.

Mortgage rates hit levels last seen in May 2020 to kick off the new year, with affordability remaining a hurdle faced by many first-time buyers due to record-high prices.

In the new year, lenders must decide whether to maintain old business practices or to embrace change.

Low housing supply and rising prices sent pending sales downward as contract signings dropped in all regions of the nation.

Even with rates heading back down to the 3% mark, many single‐family home buyers are being outpriced with lumber costs again on the upswing.

After showing signs of gains, mortgage application volume fell this week, led by a slight drop-off in refi volume.