Analysis and Data
Investors lost market share for the second quarter in a row.
MBA estimates that 350,000 homeowners are seeking assistance.
Redfin says deal cancelations, price cuts hit record highs.
Mortgage refinance application rates plunged from 21.4% in October 2021 to 8.9% in October 2022.
The GSE says a modest recession is expected to enter and exit throughout 2023, with home sales rebounding in the end of Q2 2023
First American says housing market will stabilize in 2023 once mortgage rates peak.
MBA says servicing continues to be the silver lining for IMBs.
October sales fell 5.9% from September, and are down 28.4% year over year.
Fannie Mae survey found that 36% of recent homebuyers sought just 1 mortgage quote.
Mortgage rates dropping from over 7% to 6.6% this week means homebuyers have more money available.