Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

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Want to stay up to date with the latest on the third party origination front? We designed a specific news hub with lenders and brokers in mind, with Rocket Pro TPO leading the discussion.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Investments

Housing affordability slips in third quarter

NAHB: Prices up, interest rates down

Firming home prices in markets across the country contributed to a slight dip in nationwide housing affordability in the third quarter of 2014, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

Despite this, home sales have actually picked up somewhat, especially in October.

In all, 61.8% of new and existing homes sold between the beginning of July and the end of September were affordable to families earning the U.S. median income of $63,900. The HOI in the second quarter was 62.6%.

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The national median home price increased from $214,000 in the second quarter to $221,000 in the third quarter, while average mortgage interest rates decreased from 4.44 percent to 4.35% in the same period.

Youngstown-Warren-Boardman, Ohio-Pa. claimed the title of the nation’s most affordable major housing market, as 89.1% of all new and existing homes sold in this year’s third quarter were affordable to families earning the area’s median income of $52,700.

Cumberland, Md.-W.Va. and Kokomo, Ind. each tied as the most affordable smaller market, with 94.8% of homes sold in the third quarter being affordable to those earning the median income of $54,100 in Cumberland and $56,900 in Kokomo.

For an eighth consecutive quarter, San Francisco-San Mateo-Redwood City, Calif. was the nation’s least affordable major housing market.

There, just 11.4% of homes sold in the third quarter were affordable to families earning the area’s median income of $100,400. All five least affordable small housing markets were in California.

At the very bottom was Napa, where 10.2% of all new and existing homes sold were affordable to families earning the area’s median income of $70,300.

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3d rendering of a row of luxury townhouses along a street

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