The next 12-to-24 months will be a good time for the home equity lending market because of the conditions affecting the first lien business, experts say. With elevated mortgage rates, the amount of equity homeowners hold right now and the relative shortage of inventory “it’s a really lucrative environment for home equity, and has been […]
Home equity lending has strong two-year runway ahead Read More »
The combined sum of for-sale listings on the market at the end of April hit a record, with homes both sitting on the market longer and more inventory arriving, according to a Redfin report. The total value of listings came in at $698 billion at month’s end, the real estate brokerage said. The amount surged
Dollar value of for-sale listings hits all-time high Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. The top five lenders in the ranking had a combined wholesale volume of more than $18 billion at the end of the first quarter. Most lenders saw a decrease in volume between the fourth quarter of 2024 and the first quarter of
20 banks with the largest wholesale mortgage volume in Q1 Read More »
Home equity lending hasn’t been this hot in almost two decades. Second-lien equity withdrawals approached 2008 levels in the recent first quarter, according to Intercontinental Exchange. Homeowners grabbed nearly $25 billion in home equity lines of credit, while overall first quarter equity withdrawals, including cash-out refinances, totaled $45 billion. Introductory rates on second-lien HELOCs fell
Home equity lending is flourishing as HELOC rates fall Read More »
With tappable home equity near historic highs and a preference among a majority of baby boomers to remain in their homes, several reverse mortgage lenders have recently launched products to capture the greater opportunity in this part of the market. Demographic trends suggest a market primed for growth and current interest rate levels also make
New proprietary reverse mortgages hit the market this spring Read More »
Homebuyers in the current Spring season are having to come up with larger monthly principal and interest payments, although a measure of relief might be on the way. The Mortgage Bankers Association Purchase Application Payment Index rose to $2,186 in April from $2,173 in March, although it is down from $2,256 one year ago. “Homebuyer
Monthly mortgage payments on the rise, but not for long Read More »
Mortgage rates rose for the third consecutive week, and are now at their highest level since the start of February, the Freddie Mac Primary Mortgage Market Survey reported. The 30-year fixed-rate mortgage averaged 6.89% on May 29, up 3 basis points from last week when it was 6.86%, but below one year ago at this
Mortgage rates rise again to highest level since February Read More »
Pending sales of previously owned US homes last month fell by the most since September 2022, illustrating a disappointing spring selling season as prospective buyers balk at high asking prices and borrowing costs. READ MORE: Spring housing outlook: not all bad news An index of contract signings dropped 6.3% in April to 71.3, according to
US pending home sales drop by most since 2022 on mortgage rates Read More »
While real estate investment purchases are falling into more stable patterns following wild pandemic-era swings, condo activity is lagging, falling to a 10-year low, according to Redfin. U.S. investors bought a total of 46,726 units in the first quarter, up 2% year over year, the real estate brokerage reported. Early 2025 activity recovered from the
Condos losing appeal among real estate investors Read More »
Consumers are giving mixed messages on how they feel about the current home purchase market and this is likely feeding into the Spring season, a Bank of America report found. Among current homeowners and prospective buyers, 60% claim they are unable to tell whether now is a good time to purchase a home or not.
Spring housing outlook: not all bad news Read More »
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