Tag: mortgage

Some Fascinating Conclusions as Home Affordability Concerns Come into Focus

November 16, 2018 by Zelman & Associates

Over the last year, home price appreciation has averaged roughly 5.5% across the country while the typical 30-year fixed mortgage rate has expanded by almost exactly 100 basis points. A simple calculation results in the average monthly mortgage ...

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affordability mortgage

With the Fed in Focus, What Can We Learn from Historical Actions?

November 02, 2018 by Zelman & Associates

Thus far in 2018, the average 30-year fixed mortgage rate has increased approximately 50 basis points year over year, putting the year on pace to have the highest borrowing cost since 2010. According to Google Trends, an index tracking how ...

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macro housing mortgage rates

Homebuyers Increasingly Choosing Mortgage Companies Over Local Bank

June 15, 2018 by Zelman & Associates

In 2005, we estimate that there were 6.6 million purchase mortgages originated, proving to be an all-time peak. At that time, even with the excessive level of subprime and low-quality loans that are often associated with non-banks, 66% of originations ...

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mortgage

Zelman Closest to the Pin for Key National Mortgage Statistics

May 18, 2018 by Zelman & Associates

Last week, the Federal Financial Institutions Examination Council (FFIEC) and the Consumer Financial Protection Bureau (CFPB) released preliminary Home Mortgage Disclosure Act (HMDA) data for 2017 mortgage originations. Released earlier than ...

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mortgage

An Indirect Benefit from Tax Reform to Entry-Level Buyers as Insurance Rates are Cut

April 20, 2018 by Zelman & Associates

Earlier this year, we dissected the impact of tax cuts on net income for different income cohorts, noting that the average individual tax filer would experience an approximate 1.5% increase in after-tax cash flow in ...

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affordability entry-level mortgage

Is It Time to Start Worrying About Higher Interest Rates?

March 09, 2018 by Zelman & Associates

At the end of 2016, the 10-year Treasury yield stood at 2.45%, the highest year-end level since 3.04% in 2013. At that time, the expectation was that yields would continue a steady upward climb due to inflationary pressures from the incoming ...

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mortgage rates

National Mortgage Debt Climbing Again but Leverage Healthier than You’d Think

December 29, 2017 by Zelman & Associates

According to the Federal Reserve Bank of New York’s (FRBNY) quarterly report on household debt and credit, residential mortgages accounted for 71% of outstanding liabilities in 3Q17, far surpassing student loans (10%), auto loans (9%) and credit ...

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macro housing mortgage

Cash-Out Refinances Gaining Share, but Not the Macro Impact that You Might Think

December 01, 2017 by Zelman & Associates

Last week, Freddie Mac released its quarterly refinance statistics for 3Q17. The analysis uses a sample of properties where Freddie Mac has funded two successive conventional, first-mortgage loans, and the latest loan is for a refinancing. ...

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home improvement mortgage refinance

New Disclosures Show Young, Minorities and Lower Income Lead Mortgage Rebound

October 20, 2017 by Zelman & Associates

Based on our national mortgage finance research, we estimate that 2.57 million unit purchase mortgages were originated in 2011, which stood 61% lower than the cycle peak of 6.60 million in 2005 and represented the lowest production since at ...

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entry-level mortgage

Non-Banks Dominating Origination Market with Some Startling Growth Rates

October 20, 2017 by Zelman & Associates

While banks dominate mortgage credit headlines given that the majority are publicly traded, host investor conference calls and are recognizable brand names, non-depository mortgage companies ...

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mortgage