An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.

Mortgage

Appraisal volume shows weakened spring housing market

Four-week average modestly grows

It doesn’t look like peak home-buying season judging by the latest appraisal volume numbers from a la mode, an appraisal forms software company that tracks appraisal volume throughout the country and provides its findings exclusively to HousingWire.

For week of April 17, the National Appraisal Volume Index grew 2.2%, down from a 3.6% rate last week

As a result, the four-week average rose to a modest 1.7% from 0.5%, finally offsetting the significant drop at the end of March.

Click the chart for a break down of appraisal volume over the past four weeks.

Click chart to enlarge

appraisal

(Source: a la mode)

“While mortgage rates are very low, it appears that the tight credit, low inventory and high home prices have stifled any momentum this spring,” said Kevin Golden, director of analytics with a la mode.

“There doesn’t seem to be anything on the horizon to change the modest growth,” said Golden. “It’s hard to tell what will happen, but the confusion seems to make for slow growth overall.”

Appraisal volume is an indicator of market strength and has some advantages over mortgage applications. Fallout is less for appraisals since they are ordered later in the mortgage process after credit worthiness is determined and there are few multiple-orders.

a la mode captures 50% of the appraiser market – more than 6 million appraisals per year since the fourth quarter of 2006.

Most Popular Articles

Fannie Mae: Mortgage rates and home prices will rise in ’22

Economists at Fannie Mae expect higher mortgage rates and home prices next year due to higher inflation, a tightening of monetary policy, and low home inventory

Oct 15, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please