Yes, it’s already Tuesday. Are we at the top of the market? A pair of Goldman Sachs-backed ventures gobbled up an entire rental home community in Florida last month for $45 million, according to reports. Lenders everywhere keep one eye on housing trends, and every Friday at 3PM ET I do a Zoom show with Rich Swerbinsky for The Mortgage Collaborative discussing current events in finance and housing. I try to have fun backgrounds. In Friday’s show, however, at the 6-minute mark the wild horse in the hills above Reno decided he was done with the filming. And then there was the lunging horned toad at 32:30; fortunately, I outweighed it. Speaking of weak segues, “Demand continues to outweigh supply, with the number of potential buyers currently 61% higher than the five-year average. Meanwhile, the level of homes for sale is 37% lower than normal. But the number of properties being put up for sale is beginning to increase. The number of new listings in the four weeks to 22 May were 7% higher than the five-year average.” In the United States? Nah. The United Kingdom. So we’re not alone in the world. (Today’s podcast is available here and this week’s is sponsored by Change Wholesale with its proprietary Community Mortgage program. There are no bank statements, employment, or DTI requirements, allowing brokers to deliver more prime loans to more credit-worthy borrowers like small business owners, gig workers, retirees, and anyone else searching for home financing. Lender and Broker Software, Services, and Programs
Source: Mortgage News Daily
