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Blog Entries By Sam Khater

Inventory Constraints Driving Up Home Prices

Low housing inventory driving up home prices

Sam Khater    |    Housing Trends

We recently took a look at how low available inventory is contributing to rising home prices. As you can see from the following NAR chart, for sale inventory is at its lowest level since 2005 at approximately 4-months’ supply compared to a “normal” market of 6-months’ supply.

We found that unsold inventory is even lower than traditional metrics might suggest....

Is the Credit Cycle Turning?

Mortgage Performance is Beginning to Deteriorate

Sam Khater    |    Mortgage Performance

Delinquency Rate by Loan Type

The contours of a typical economic expansion and recession are strongly driven by loan performance. When times are good, lenders expand loan production to more marginal borrowers but when loan performance begins to deteriorate, lenders become more conservative, which often exacerbates an economic downturn. Therefore, an understanding of the credit cycle is important to understanding the...

FHA-to-Conventional Refinancing is a Bright Spot in the Mortgage Market

An Estimated 250,000 Expected to Refinance from FHA to Conventional in 2017

Sam Khater    |    Housing Policy

FHA to Conventional Refi is Elevated

Most of the attention surrounding the higher mortgage rate environment has been on the negative impact on the mortgage refinance market. However, that overlooks the fact that there are reasons a borrower may want to refinance in a modestly higher rate environment. For example, borrowers who have built sufficient home equity may want to cash-out some equity or refinance out of FHA to...

Conforming Loan Limit to Rise for First Time in Many Years

But ‘Jumbo inversion’ means conforming still more expensive for borrowers

Sam Khater    |    Mortgage Performance

Jumbo Conforming Spread in Basis Points

The Federal Housing Finance Administration has confirmed there will be a new conforming loan limit next year. For the first time in a decade, the loan limit will increase, from $417,000 to $424,100. What will the effect of this one percent plus rise be? Maybe not as much as it has in the past.

That’s because the inversion of the conforming and jumbo lending interest rates...

Return to Cities or Heading for the Hills?

Urban Rebound Causes Large Shift in Lower Credit Borrowers to Seek the Outer Suburbs

Sam Khater    |    Housing Trends

Rising Inner Suburban Prices

American homebuyers are on the move, but maybe not in the direction that most people think. The much-discussed “return to the cities” movement is happening, but from a mortgage industry perspective it may be something of a “head-fake.”

While there is no doubt there’s been an urban rebound in many of America’s cities, it has been driven by...

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