Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.

Mortgage

Freddie Mac: Mortgage rates increase again – don’t expect them to stop

Fed will continue to raise rates

Interest rates increased once again in anticipation that the Federal Reserve would increase interest rates Wednesday.

“As expected, the FOMC announced its first rate hike of 2017 and hinted at additional increases throughout the remainder of the year,” Freddie Mac Chief Economist Sean Becketti said. “Although our survey was conducted prior to the Fed’s decision, the release of the February jobs report all but guaranteed a rate hike and boosted the 30-year mortgage rate nine basis points to 4.3% this week.”

Click to Enlarge

3-16-17

(Source: Freddie Mac)

The 30-year fixed-rate mortgage increased to 4.3% for the week ending March 16, 2017. This is up nine basis points from last week’s 4.21% and up from 3.73% last year.

The 15-year FRM increased to 3.5%, up eight basis points from 3.42% last week and from 2.99% last year.

The five-year Treasury-indexed hybrid adjustable-rate mortgage increased to 3.28%, up from last week’s 3.23% and last year’s 2.93%.

After raising rates in December, when the Fed moved to raise rates from a range of 0.5% to 0.75%, the Fed elected to raise them another 25 basis points to a range of 0.75% to 1%. The Federal Funds Rate represents the overnight rate which financial institutions, such as banks, provide short-term lending to one another, and is a basis for capital markets liquidity.

“Increasing inflation, continued gains in the labor market and the Fed’s intentions for further rate increases—all three will keep pushing mortgage rates up this year,” Becketti said.

Most Popular Articles

FHFA: Government to back mortgages up to $970,800 in 2022

The FHFA today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. In high-cost areas, the new ceiling loan limit will be $970,800.

Nov 30, 2021 By

Latest Articles

What Omicron, bond market and jobs mean for housing

We often have two to three job reports per year that miss estimates badly. However, remember that we have over 10 million job openings.

Dec 03, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please