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 retreat after highest one-week increase in nearly a year

This week, the 30-year fixed-rate mortgage averaged 3.64%

This week, the average U.S. fixed rate for a 30-year mortgage fell to 3.64%. That’s nine basis points below last week’s 3.73% and more than a percentage point lower than the 4.72% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey.

According to the GSE, in terms of the 30-year fixed-rate mortgage, September has been the most volatile month since March. During the month, it has averaged a weekly movement of 11 basis points.

“With both the unemployment rate and mortgage rate below 4% and near historic lows, it is no surprise that the housing market regained momentum with home sales and construction at or near decade highs,” said Sam Khater, Freddie Mac’s chief economist. “The fall housing market is poised to continue with steady gains in prices and solid sales activity.”

The 15-year FRM averaged 3.16% this week, falling from last week’s 3.21%. This time last year, the 15-year FRM came in at 4.16%.

The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.38%, compared with last week’s rate of 3.21%. This percentage is a significant decrease from the 2018 rate of 3.97%.

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