Buyers, Sellers Ride High Of September Rates Into October

Buyers, Sellers Ride High Of September Rates Into October

Buyers and sellers continued to make waves in October, riding the high from September’s cooling rates and increased inventory. New listings lead to significant pending home sales bumps, with the biggest gains seen in Boston (+25.7%), San Diego (+22.1%), and Seattle (+50.5%), according to Realtor.com’s October Monthly Housing Report. The report notes that the rise…

Homebuyer Assistance Options Increased In Q3

Homebuyer Assistance Options Increased In Q3

More homebuyer assistance programs appeared in Q3 2024 as home shoppers struggled with ongoing unaffordability. The number of national homebuyer assistance programs increased by 29 to 2,444, including a 5% bump in programs for first-generation buyers. There was an 8% jump in below-market rate/resale programs, a 7% increase in grant-funded programs, and a 6% boost…

Pending Sales Improved Post Fed Rate Cut

Pending Sales Improved Post Fed Rate Cut

Home sale activity is finally rising in some areas of the country as buyers take advantage of a cooling rate period. Pending home sales rose 2% YOY in the four weeks ending October 6, Redfin reported. This is the biggest increase in three years. Early-stage demand indicators are also improving, with tours and other buying…

Borrowers Most Frustrated By Closing Difficulties

Borrowers Most Frustrated By Closing Difficulties

Lenders looking for happy, loyal customers can benefit from streamlining and digitizing their closings, the part of borrowing that frustrates buyers the most. In a new survey from Snapdocs, 60% of homebuyers said they experience frustration during the mortgage process, especially during closing, which can impact lenders’ reputations and profits later. “Borrowers don’t remember everything…

HUD, Zillow Team Up To Promote Counseling Services
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HUD, Zillow Team Up To Promote Counseling Services

The U.S. Department of Housing and Urban Development and Zillow are teaming up to expand homeownership for a new generation of buyers. Alongside a series of new actions expanding housing counseling services, HUD tapped Zillow to display ads for its “Let’s Make Home the Goal” campaign on its digital platforms. The campaign is a multi-year…

Haven Launches Borrower Engagement Product

Haven Launches Borrower Engagement Product

Servicing fintech Haven introduced Haven Wallet, a program that allows lenders to continue interacting with borrowers through the life of the line. Haven Wallet is a turnkey, digital experience that provides borrower engagement opportunities even after the loan is sold, fostering long-lasting relationships between homeowners and originators. It offers the following benefits: Borrowers access a…

First Week Of October Could Be Best Time To Buy Homes

First Week Of October Could Be Best Time To Buy Homes

After a lackluster spring and summer, some analysts say October may be the best time to buy a home in 2024. Realtor.com’s Best Time to Buy Report, its sixth annual analysis of the national marketplace, puts the week of September 29 to October 5 as the premier time to invest in a home this year….

For-Sale Inventory At 4-Year High But Buyers Still Won’t Budge

For-Sale Inventory At 4-Year High But Buyers Still Won’t Budge

For-sale inventory hit its highest level since May 2020 as buyers shy away from the market despite rising affordability. That’s according to the Realtor.com August Housing Trends Report, which found inventory soaring and list prices cooling across the U.S. The number of homes actively for sale grew by 35.8% last month. The biggest inventory changes…

Down Payments Are Getting Bigger As Unaffordability Strains Buyers

Down Payments Are Getting Bigger As Unaffordability Strains Buyers

Down payments are getting bigger as home prices inflate and buyers strive to lower their monthly payments while competing with cash offers. The typical homebuyer put down 18.6% of the purchase price, new Redfin data showed, totaling more than $67,000 and up from 15% last year. Almost three in five buyers put down at least…

Mom-And-Pop Investors Take Over The Market

Mom-And-Pop Investors Take Over The Market

Institutional investors are cooling on the housing market, putting cash purchases on the back burner where they used to dominate. The share of investors buying homes with cash fell to 64% in Q1 2024, Realtor.com found, its lowest point since 2008 and down from 69.7% in Q4 202. The reason? Mom-and-pop investors are increasing their…

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