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According to the Mortgage Bankers Association's weekly survey for the week ending January 13, application volume for both refinancing and purchasing a home increased by double digits in the first full week of the new year.
The Market Composite Index tracked by the MBA rose 27.9% from the previous week after seasonal adjustment and 32% when not adjusted.
According to new data released by the US Census Bureau on Thursday, the seasonally adjusted annual rate of housing starts fell to 1,382,000, 1.4% below levels recorded in November.
The Federal Reserve's efforts to rein in historically high inflation have come at a steep price for multifamily real estate borrowers, who must now contend with increased interest rates and a greater requirement for down payments in order to close deals.
From January through November of this year, housing finance giants Fannie Mae and Freddie Mac issued a total of 3,340 unique multifamily loan securities, which CoStar evaluated. More than $74 billion in loans on around 8,500 properties were represented by the securities.
Interest rates are increasing, as seen by the statistics. Loan-to-value ratios, which measure how much a borrower is borrowing in relation to how much their home is worth, dropped at the start of the year and have since leveled off around 50%.
According to the National Association of REALTORS®, Atlanta has the best prospects for growth among major U.S. housing markets in the coming year.
The "New York of the South" is on NAR's list of 2023's most exciting real estate markets for three primary reasons: The NAR research cites many factors that give Atlanta a leg up on other comparable cities when it comes to housing affordability. These include a fast-expanding population, a lower median home price, and a larger share of renters who can afford to buy. Additionally, several large technology businesses are coming to Atlanta from the West Coast, contributing to the city's thriving job economy.
According to Christopher Whalen, head of Whalen Global Advisors, even if Federal Reserve Chairman Jerome Powell and his colleagues stopped rising policy rates soon, the 30-year fixed mortgage rate still would increase to 10%.
Landlords around the country have increased rents to unfathomable levels, leaving renters with little good news.
In August, Manchester-Nashua, New Hampshire, reclaimed its position as the top housing market, marking the tenth time in the past year that this has occurred. Since March 2021, this region has occupied the number one spot in the hottest markets a total of 17 times. It wasn't until May of 2018 that Manchester finally broke into the top 20, and since the beginning of 2019 it has been a consistent top 20 city. Source: Realtor.com
The COVID-19 pandemic has brought challenges to just about every industry. The housing market, and the fix and flip market in particular. With interest rates continuing to stay low demand for houses remains high; however, homeowners are un-eager to put their homes on the market rather than opting to sit tight, despite increased home values, which is leading to a lot of fierce competition that doesn’t show any signs of slowing down in 2021. With the right research investors seeking out fix and flips can score big this year.
Airbnb rentals are a great way to diversify your real estate portfolio and make money off the rising demand for vacation homes. However, there are some things you should consider before investing in one.
