Mortgage Tech Demo Day

In a half-day format, technology companies will demo their platforms and answer questions. You can tune in for the whole demo day, or strategically drop in on sessions to learn about specific solutions.

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

How non-QM lenders can make the origination process easier for brokers

As a leader in non-QM loans, Angel Oak Mortgage Solutions offers the expertise and technology to make a broker's life easier - not harder.

MortgageReal Estate

Report: Home sales hold ground despite TRID

Here’s why housing will stay a seller’s market

Mortgage rates are close to record lows, and April home mortgage applications were at their highest since 2010, however lack of inventory continues to give sellers the upper hand, according to Capital Economics report, titled US Housing Market Monthly.

Annual growth rate for home sales rose to 5.4% in March, despite volatility caused by the Consumer Financial Protection Bureau's know before you owe regulations, aka TRID, according to the report. 

After the slight growth of 1.4% in GDP in the fourth quarter of 2015, strong opposition such as falling oil prices and the strengthening of the dollar caused GDP growth to slow down in 2016’s first quarter, according to the report. This year started off even slower with a 0.5% GDP growth.

Although the labor market likely slowed in April, it still continues to rise. April’s gain of 160,000 dropped from the February and March gains of more than 200,000.

The current mortgage rate of 3.87% for a 30-year fixed rate puts mortgage rates close to record lows. Because of this, affordability continues to increase even while home prices rise.

That being said, mortgage credit remains tight, and prevents many from being able to qualify, according to the report.

"The improving economy will persuade banks to accept more applications, although the much tougher regulatory environment rules out any return to the ultra-loose conditions seen in the mid-2000s," the report stated.

In fact, the current weakness in the market reflects a lack of inventory rather than problems with lending.

Realtors also report stronger buyer than seller traffic every year since the beginning of 2012, the report added. 

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