The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Zillow analyst on whether home prices can keep climbing

Today’s episode of HousingWire Daily features an interview with Nicole Bachaud, as she discusses annual and monthly home price appreciation growth, rising inventory levels and rent prices.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

MortgageReal Estate

What Spring home-buying season? Appraisal volume drops

What's going on?

Appraisal volume continues to struggle to lift-off this spring. With more than half the season already over, volume fell -0.4% for the week of May 1, according to the latest appraisal volume numbers from a la mode, an appraisal forms software company that provides its findings exclusively to HousingWire.

This is down from the 1% rise in last week’s report despite it being peak home-buying season.

Click chart to enlarge


(Source: a la mode)

“This year the Index has a very modest upward trend. This week’s negative growth rate is one of the few we’ve seen this year and the first since the end of March,” said Kevin Golden, director of analytics with a la mode.  

“Overall this spring buying season has been tepid at best. Tight credit, stalled wages and rising prices have countered the good employment data and low rates,” he continued.

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. 

The Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending April 29 posted similar news, reiterating the difficulties of this spring-buying season. Mortgage applications dropped, falling 3.4% from one week earlier. This came after previous week’s decline of 4.1%.

[Update 1: Headline modified to better reflect appraisal volumes in total]

Latest Articles

Refis stubbornly make a bit of a comeback

The week following Labor Day saw a flurry of mortgage loan application activity, with volume jumping by 4.9% for the seven days ending Sept. 17, according to the MBA. Refis were on the front foot again.

Sep 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please