REI INK

News Updates

More buyers are purchasing mortgage points as a way to ease monthly costs

  • by
  • Comment Off
  • 363 views

15% more borrowers purchased mortgage points in 2022 than 2021, and continue to do so as interest rates hover around 6% Interest rates remain high and home buyers are looking for ways to save money, including buying mortgage points. A recent analysis of data from the Home Mortgage Disclosure Act (HMDA) by Zillow Home Loans finds nearly 45% of conventional primary home borrowers opted to purchase mortgage points in 2022 as a

Read More

S&P CORELOGIC CASE-SHILLER INDEX DECLINES MODERATED IN FEBRUARY

  • by
  • Comment Off
  • 338 views

S&P Dow Jones Indices (S&P DJI) released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released for February 2023 show a modest increase in our national composites, although eight of the 20 major metro markets reported lower prices. More than 27 years of history are available for the data series and can be accessed in full by going to www.spglobal.com/spdji/en/index-family/indicators/sp-corelogic-case-shiller. YEAR-OVER-YEAR The S&P CoreLogic

Read More

Mortgage Delinquencies Hit Record Low in March, While Prepayments Rose 

  • by
  • Comment Off
  • 362 views

Black Knight, Inc. reports the following “first look” at March 2023 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market. Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 2.92%Month-over-month change: -15.23%Year-over-year change: -13.23% Total U.S. foreclosure pre-sale inventory rate: 0.46%Month-over-month change: -0.21%Year-over-year change: 13.24% Total U.S. foreclosure starts: 32,000Month-over-month change: 9.03%Year-over-year change: -5.69% Monthly prepayment rate (SMM):

Read More

Real Estate Investors Are Losing Money on Roughly 1 in 7 Homes They Sell

  • by
  • Comment Off
  • 498 views

Investors are selling at a loss as elevated mortgage rates curtail homebuyer demand. Roughly one of every seven (13.5%) U.S. homes sold by an investor in March sold for less than the investor bought it for, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s comparable with February’s 14.5% rate—the highest since 2016. It’s also nearly triple the share of a year earlier and compares with a

Read More

Economy Resumes Gradual Slowdown Following Bank Turmoil

  • by
  • Comment Off
  • 281 views

Mortgage Demand and Home Prices Prove Resilient; Sales Expected to Decline Further Due primarily to an upward revision in recent consumer spending data, Fannie Mae’s (OTCQB: FNMA) Economic and Strategic Research (ESR) Group now forecasts stronger first quarter GDP growth but maintains its belief that economic momentum is running out of steam, according to the ESR Group’s latest monthly commentary. While the acute panic following the bank failures in March appears to have

Read More

John Burns Real Estate Consulting Announces Name Change to John Burns Research and Consulting and Launches New Website

  • by
  • Comment Off
  • 456 views

John Burns Real Estate Consulting, a leading provider of research and consulting services for the US housing industry, recently announced a strategic rebranding initiative, including a name change to John Burns Research and Consulting and the launch of its newly designed website, www.jbrec.com. The rebranding initiative reflects the company’s continued evolution and expansion into new areas of expertise beyond real estate. The new name, John Burns Research and Consulting, better communicates

Read More