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HousingWireHousingWire Vice President Kamala Harris, the Democratic nominee for the 2024 presidential election, included initiatives to deal with surging housing costs in her economic plan announced Friday. She promised, if elected, to reduce “red tape” to build homes and provide tax incentives for first-time homebuyers. “There’s a serious housing shortage;…
Continue reading →HousingWireHousingWire When mortgage rates logged their sharpest decline of the year last week following an underwhelming jobs report, data showed that refinance demand surged. Despite what seems like welcome news for loan originators, who have suffered through thinning margins for two years, refinance business has yet to go up much,…
Continue reading →HousingWireHousingWire As discussed in previous reverse mortgage rate updates, the federally insured Home Equity Conversion Mortgage (HECM) is the dominant reverse mortgage in America. As a result, HECM has become synonymous with reverse mortgages. But did you know that nearly all HECMs originated today are variable-rate loans? This is in…
Continue reading →HousingWireHousingWire Although the U.S. housing market may have slowed during the second quarter of the year, investors did not take their foot off the gas. The number of home purchases by investors rose 3.4% year over year in Q2 2024, the largest increase since Q2 2022, according to a report…
Continue reading →HousingWireHousingWire One key data line that is flagging a path to recession is the loss of residential construction workers. The number of workers who build single-family and multifamily homes and do remodeling work tend to decline before every recession as higher interest rates dispositionally impact the economy through housing. While…
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