Weekly Housing Headlines

This week, mortgage applications increased by 0.5%; a new report shows that U.S. homeowners withdrew $48 billion in equity in the third quarter of 2024; a survey explains why homeowners would rather leverage their equity than sell; the median listing price fell for the third week in a row; the number of new listings on the market picked up compared with the same week last year; and active inventory increased, with for-sale homes 26.1% above year-ago levels.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 11/13/2024
Mortgage applications increased 0.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending November 8, 2024. 

U.S. Homeowners Tapped Into Their Equity More in the Third Quarter
MortgageOrb - 11/11/2024
U.S. mortgage holders withdrew $48 billion of home equity in the third quarter – the largest such equity withdrawal volume in the two years since the Federal reserve first initiated its latest tightening cycle.

Weekly Housing Trends View — Data for Week Ending Nov. 9, 2024
Realtor.com - 11/14/2024
The median listing price fell for the third week in a row, the number of new listings on the market picked up compared with the same week last year and active inventory increased, with for-sale homes 26.1% above year-ago levels.

Homeowners Would Rather Leverage Home Equity Than Sell
National Mortgage Professional - 11/14/2024
A new survey from TD Bank shows that most homeowners think of their properties as precious financial assets, and two-thirds (66%) view their home as a source of generational wealth. 

IMB Production Profits Increase in Third Quarter of 2024
Mortgage Bankers Association - 11/14/2024
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net profit of $701 on each loan they originated in Q3 2024, an increase from the reported net profit of $693 per loan in Q2 2024.

The State of U.S. Foreclosure Activity: Rates, Starts, and Completions
MortgagePoint - 11/13/2024
According to ATTOM‘s October 2024 U.S. Foreclosure Market Report, 30,784 properties in the U.S. had foreclosure filings, such as default notifications, scheduled auctions or bank repossessions.

22% of U.S. Residents Are More Likely to Move Now That Election Is Over, With Many Considering a Different Country or State
Redfin - 11/13/2024
More than a third of U.S. residents (36%) are considering moving to another country, and 26% are thinking of moving to a different state. But 21% of all respondents say they are less likely to move now that the election is over.

Stable mortgage rates could drive 2025 home sales increase - NAR
Mortgage Professional America - 11/11/2024
With mortgage rates expected to settle around 6% and job growth continuing, National Association of Realtors chief economist Lawrence Yun sees a more favorable environment for buyers and sellers on the horizon.

VA Borrowers Are More than Twice as Likely as Conforming Borrowers to Have a Low Down Payment
Realtor.com - 11/11/2024
Over the past 12 months, nearly 3 in 4 (74.5%) home sales with VA loans had a 0% down payment and more than 8 in 10 (85.3%) VA loan home sales had a down payment below 10%. 

More Communication, Earlier, Homebuyers Plead
National Mortgage Professional - 11/12/2024
It takes more than just 'fast and fancy' to please mortgage borrowers, according to the latest J.D. Power study. It's not that artificial intelligence doesn’t help. But today’s borrowers often need a little hand holding, too.