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 dip at start of 2019

30-year fixed-rate mortgage dips to 4.51%

Prospective buyers should have a bit more pep in their step as 2019 begins with comparably low mortgage rates, according to the latest Freddie Mac Primary Mortgage Market Survey.

According to the survey, the 30-year fixed rate mortgage declined from 4.55% last week, averaging 4.51% for the week ending Jan. 3, 2019. Notably, this is still an increase from last year’s rate of 3.95%.

Freddie Mac Chief Economist Sam Khater explained that the combination of lower rates and decreases in home prices should get those looking to buy a home excited.

“Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy,” Khater continued. “However, it will be interesting to see how the recent turmoil in the stock market will affect homebuying activity in the coming months.”

(Click to enlarge)

Freddie Mac - Jan 3

The 15-year FRM averaged 3.99% this week, retreating from last week’s average of 4.01%. This time last year, the 15-year FRM was 3.38%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.98%, slightly down from 4% the week before. That being said, the rate remains higher than this time in 2018 when it averaged 3.45%.

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