In 2022, the number of consumer mortgage loans originated by DFPI licensees was down a shocking 70% from the prior year.
Recession 2020
It’s official — the 2020 recession is over. So why isn’t the economy back to normal? firsttuesday sketches out the shape of the housing market beyond the pandemic.
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The 2020 recession was the shortest ever — but its effects continue in the housing market
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Tightened mortgage standards lock out mid- to high-tier homebuyers, sellers
Mortgage loan availability fell in July 2023 to its lowest level in a decade for non-qualified mortgages (QMs).
No one wants to sell — does that mean the renovation revolution is here?
Would-be renovators are finding themselves wedged between a rock and several hard places.
Today’s homeowners are stuck on yesterday’s rates
Sticky homeowners are unwilling to relieve the inventory shortage in 2023.
The news media has the wrong take on mortgage rates
Media pundits in their coverage of today’s high mortgage interest rates ignore the 60-year cycle of rising and falling mortgage rates and the seller’s pricing response to rising and falling rates.
Community bankers agree: the recession is here
An overwhelming 95% of community bankers say the economy is already in a recession as of Q2 2023.
Price cuts moderate during spring bump, with more to come
Any seller confidence gained during spring’s meager seasonal boost is premature.
Independent no more, brokers seek brokerage employment
2023 is seeing fewer independent brokers and more broker associates.
Using the yield spread to forecast recessions and recoveries
The yield spread indicates the likelihood of a recession or recovery one year forward.
California home sales volume: June 2023 sees an end to seasonal bump
Year-to-date, sales volume is a fee-crushing 31% below 2022 as of June 2023.
Risk management practices by the sellers agent in a declining market
In times of softening home prices, the sellers agent will need to be even more sure to provide the buyer with property reports and disclosures.
Mortgage payments jump — and misguided buyers feel driven to overpay
Today’s homebuyers remain undeterred by rising interest rates, still-high home prices and slowing sales.
Ready to get ahead of the recession?
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