Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.

Investments

Builder confidence and housing starts, sales and prices headline the week

Closing the book on 2014 housing with final reports

With just a few mortgage-focused earnings coming out this week the emphasis will be on a slate of housing metrics coming from homebuilders, the Federal Housing Finance Agency and the Census Bureau.

The National Association of Home Builders releases on Tuesday its housing market index for January.

Last month, the index remained solid, at 57 for the December housing market index. Though slightly below November's 58 and on the low side of expectations, this was still the sixth reading in a row that the index was above breakeven 50. December's strength was centered in expectations for future sales, at 65 versus November's 66, followed by current sales which are at 61 versus 62. Continuing to trail in the distance was the traffic component, unchanged at 45 in a reading that underscores the lack of first-time buyers in the housing market.

On Wednesday the Census Bureau releases its report on housing starts for December.

The November report showed single-family starts and multifamily starts moving in opposite directions. Housing starts in November dipped 1.6% after rebounding 1.7% in October. The 1.028 million unit pace was down 7% on a year-ago basis. November strength was in the volatile multifamily component. Multifamily starts rebounded 6.7% after declining 9.9% in October.

In contrast, single-family starts fell 5.4% in November after gaining 8% in October. Housing permits declined a monthly 5.2%, following a 5.9% jump in October. The 1.035 million unit pace was down 0.2% on a year-ago basis.

The FHFA releases on Thursday its purchase-only house price index for November. The index showed unexpected strength in October, gaining 0.6% after no change in September. Analysts forecast a 0.2% rise for October.

The year-ago rate firmed to 4.5% from 4.4% in September. Regionally, six Census regions reported gains in October while three declined. Housing may be showing improved demand but this is just one month's report.

The FHFA index covers single-family housing, using data provided by Fannie Mae and Freddie Mac.

Friday will see the report on existing home sales for December.

Existing home sales had been showing some life but not in November, sinking a very steep 6.1% to a 4.93 million annual rate, below expectations.

November's weakness was broad based with all four regions showing single digit monthly declines. But the good news is that the weakness in sales is not inflating supply which, due to a draw down of homes on the market to 2.09 million from 2.24 million, held steady relative to sales, at 5.1 months.

Most Popular Articles

Are we back to a normal housing market?

Favorable demographics should keep the housing market ticking. But watch for home prices escalating out of control and rates moving up sharply, writes columnist Logan Mohtashami. HW+ Premium Content

Jul 26, 2021 By

Latest Articles

Why is Ginnie Mae attacking nonbanks?

David Stevens writes: A 250% risk weighting applied to Ginnie Mae MSRs would instantly devalue the entire existing global balance sheet.

Jul 28, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please