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What Distinguishes Today’s Housing Slump From the 2008 Collapse?

Pro Builder

What Distinguishes Today’s Housing Slump From the 2008 Collapse? With much less financial risk-taking and an increase in equity wealth, today's buyers and homeowners are much more prepared to handle a housing downturn than they were in 2008. Thu, 09/08/2022 - 09:42. Market Data + Trends. Economics.

Housing 98
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Jumbo Loans Are Near 2008 Again

Pro Builder

Jumbo Loans Are Near 2008 Again. Originations of large jumbo loans that exceed the conforming limits set for Freddie Mac and Fannie Mae could hit a level this year that hasn’t been seen since the run up to the 2008 credit collapse. Financing. Wed, 10/13/2021 - 10:25.

Banking 52
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Builders Are Slashing Prices to Sell Homes, but Not at 2008 Levels

Pro Builder

Builders Are Slashing Prices to Sell Homes, but Not at 2008 Levels. Home builders are reducing sales prices and offering incentives to budget-conscious buyers, but at a much more reserved pace than in 2007 and 2008. Tue, 12/13/2022 - 10:19. New-Home Sales. New-Home Sales.

NAHB 40
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Share of New Home Sales Financed Through FHA Loans Falls to 14-Year Low

Pro Builder

Share of New Home Sales Financed Through FHA Loans Falls to 14-Year Low. Over the last four quarters, the share of new home sales financed with conventional loans has climbed by 4.3 The most recent Quarterly Sales by Price and Financing published by the U.S. were financed through conventional loans, a 1.8 Financing.

Finance 52
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Adjustable-Rate Mortgages Are on the Rise Once Again—Here’s What That Means for Today’s Homebuyers

Pro Builder

Adjustable-rate mortgages (ARMs) played a significant role in the Great Recession of 2008, which is why a rising share of adjustable-rate mortgage applications in 2022 raised some eyebrows amid talks of a housing downturn. Lending practices have been reformed after hard lessons learned in 2008. Financing.

Finance 98
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Mortgage Banks Reported Negative Profits for the First Time Ever in 2022

Pro Builder

Negative profits in 2022 are likely a result of slower housing activity caused by higher financing costs coupled with elevated home prices, leading to lower purchase and refinance volume. "The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan."

Banking 52
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What the Fed’s Most Recent Rate Hike Means for Homebuyers—Good and Bad News

Pro Builder

22, the average 30-year fixed mortgage rate increased to 6.29%, up from the previous week’s 6.02%, which was already the highest level seen since 2008. . Financing. According to Freddie Mac, for the week ending Sept. New-Home Sales. Market Data + Trends.