All the housing market data for 2024 is in, and it’s fair to say that the housing market surprised us again! However, there are two big trends that stand out as we launch into 2025 — affordability and sellers in the market. The elephant in the room is affordability. Home prices finished 2024 up a…
"December 30, 2024" Archives
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Despite rising mortgage rates through much of 2024, recent indications show growing boldness among homebuyers heading into the new year. A report released Monday by the National Association of Realtors (NAR) showed an increase in pending home sales for the fourth consecutive month. NAR’s Pending Homes Sales Index (PHSI) report is a forward-looking source that…
Refinance volume is only a fraction of what it was three years ago when mortgage rates plummeted to historic lows, but borrowers have returned in greater numbers this year. Recent data from CoreLogic shows that $347 billion in refinances were originated during the first 10 months of 2024. That’s up 27% compared to the $273…
While 2024 was rife with challenges for the mortgage industry broadly — across forward and reverse — a new year brings a new mindset. Some challenges remain, with mortgage rates being chief among them. Education and distribution can also likely be improved. But there are also new opportunities for the industry in 2025, and the…