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.

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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.

Real Estate

Sales of new homes drop 6.9% in April from March’s 11-year high

The level remains 7% higher than a year ago

Sales of new houses dropped in April from an 11-year high in March, according to a report from the Census Bureau and the Department of Housing and Urban Development.

New-house sales fell 6.9% to a 673,000 annualized pace last month from March’s upwardly revised rate of 723,000. Even with the decline, April’s level sits 7% higher than a year ago. 

While the headline figures are disappointing, the decline in new home sales does not mean the overall housing market is cooling, said Zillow Economic Analyst Matthew Speakman. 

“The strong reading from March greatly exceeded expectations and was revised upward today; without that revision, April’s month-over-month decline would be just 2.7% – and the underlying trend in sales remains strong,” Speakman said. “Builders are finding ways to deliver homes despite expensive land and labor prices, a boon to buyers thirsty for more supply.”

A strong showing of housing starts last week point to a healthy spring market, he said.

“Strong builder confidence was borne out by last week’s encouraging home starts figures, which suggest that the supply of new homes is poised for growth,” Speakman said. “This strength, combined with enduring low mortgage rates and a historically strong job market, suggest that today’s reading is just a slight step back in the continued recovery of new home sales.”

The median sales price of new homes sold was $342,200 and the average sales price was $393,700. The seasonally adjusted estimate of new homes for sale by the end of the month was 332,000 in April, representing a supply of 5.9 months at the current sales rate.

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