Lenders Feel More Upbeat About Housing

70% of lenders surveyed are expecting home prices to rise over the next 12 months. If you've been thinking about buying it's a great time to start the conversation. Contact me today at 571-970-7195 or whitney@whitneyminnich.com to start the process.

Lenders Feel More Upbeat About Housing

DAILY REAL ESTATE NEWS | THURSDAY, JUNE 18, 2015
Mortgage lenders are growing increasingly optimistic that demand for mortgages for home purchases will remain strong over the next three months. Fannie Mae's second quarter 2015 Mortgage Lender Sentiment Survey showed more lenders are reporting credit loosening and there's a strong demand from borrowers for home purchase loans.
The survey showed that senior mortgage executives are increasingly optimistic, and significantly more optimistic than consumers about future home prices. The share of lenders expecting home prices to rise over the next 12 months reached a survey high of 70 percent in the second quarter.The latest results solidify a rosier outlook for housing, Fannie Mae economists note. "We expect a continued housing expansion in 2015, after an uneven and disappointing 2014," says Doug Duncan, Fannie Mae's chief economist.
What's more, the share of lenders reporting an increase in mortgage purchase demand over the prior three months reached a survey high for GSE-eligible and government loans, 77 percent and 65 percent, respectively.
"This quarter’s results showed that the growing optimism of lenders has been rewarded," says Duncan. "The share of lenders reporting increased purchase mortgage demand over the prior three months reached a survey high for both GSE-eligible and government loans. At the same time, the positive gap grows between lenders reporting loosening or maintaining existing credit standards, relative to those reporting tightening. While not matching first quarter 2015 levels, the profit margin and purchase mortgage demand expectations over the next three months remain above the 2014 readings."
Source: Fannie Mae

Popular posts from this blog

Millennials Prefer Single-Family Homes Too

Millennials Prefer Single-Family Homes Too DAILY REAL ESTATE NEWS | MONDAY, JULY 06, 2015 A growing body of research is discrediting what was previously assumed about millennials' taste for real estate. Many housing analysts said this generation of young adults preferred small, urban walkable corridors, but recent studies are revealing a different preference.  Millennials, just like previous generations, are showing a strong preference for single-family homes, according to a new Housing Insights report released by Fannie Mae's Economic & Strategic Research Group.  Researchers examined the rates at which young households are occupying single-family homes today and also compared it to young adults' preferences prior to the housing crash.  "The analysis reveals that the likelihood of a millennial household occupying a single-family home today is down somewhat from that of young adults at the peak of the housing boom, but is no different than it was for...
Read more

Loan Demand Takes Sudden Leap From Home Buyers

Image
Loan Demand Takes Sudden Leap From Home Buyers July 11, 2018 © REALTOR® Magazine The number of homes for sale is growing in some markets and that may be the main factor behind the latest rise in mortgage applications, economists say. Mortgage applications for both home purchases and refinancings increased 2.5 percent last week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. The rise was fueled entirely by an uptick in home purchase applications. Mortgage applications for home purchases surged 7 percent in the week and are now 8 percent higher than a year ago, the MBA reports. Abounding housing shortages have mostly kept a lid on any notable increases in home sales this summer, but that gradually may be changing. “Even though inventories continue to decline, they are doing so at a slower pace,” says Danielle Hale, chief economist at realtor.com®. “In other words, while buyers continue to see fewer homes available for ...
Read more

10 Fastest Appreciating Housing Markets in the U.S.

10 Fastest Appreciating Housing Markets in the U.S. Residential home prices are set to appreciate at 4.4 percent nationally, over the next 12 months, according to  Veros Real Estate Solutions'  (Veros) VeroFORECAST that was released on Tuesday. However, housing markets out West are likely to see a much faster appreciation that the rest of the country, the forecast predicted. The latest quarterly forecast covers the 12 months from June 1, 2018, to June 1, 2019, and integrates data from 1,005 counties, 354 metropolitan statistical areas (MSAs), and 13,877 ZIP codes covering 82 percent of the U.S. population. The forecast for Q2 2018 projected that the 10 highest-appreciating markets were concentrated in five states in the West. The forecast also found ten markets that were projected to see a slight depreciation in home values over the next 12 months. All these markets were in the East and South, Veros said. “Washington State and Nevada occupy six of the ten highest-appre...
Read more