CoreLogic data shows that the forbearance rates were increased for higher-priced loans.
In terms of both dollars and market share, jumbo mortgage originations grew significantly in 2021 relative to the prior year.
In addition to elevated demand for owner-occupied and second homes since the onset of the pandemic, there has also been an increase in investor home purchases across the U.S. housing markets.
New home prices up less in 2021, but more over the last decade
Historically, large-balance mortgage loans, known as ‘jumbo’ loans, have had a higher interest rate than conforming loans. However, since mid-2013, the interest rate for a jumbo loan was lower than a conforming loan until June 2020.
Much like the record appreciation recorded in the CoreLogic Home Price Index, investor activity hit peaks previously unseen in CoreLogic data in the second quarter of 2021.
Is 2021 the hottest real estate market ever? According to the S&P CoreLogic Case-Shiller Home Price Index (HPI), annual U.S. appreciation rates from April to September have been at their highest since the inception of the index. CoreLogic’s public records data shows 2021 is easily on pace to be ...
Conventional Mortgage Lending in Underserved Areas Dropped During the Early Months of Pandemic
The housing market’s recovery in summer 2020 from the outbreak of the pandemic was largely unexpected: by July, despite a high unemployment rate with more than 16.3 million people out of work, home sales rebounded strongly to climb back to pre-pandemic levels and surpassed the same-period sales f...
The shortage in for-sale homes has driven the number of days homes are on the market to new lows in 2021.
Since the pandemic began over a year ago, a supply shortage of for-sale homes has fueled home price growth.
2021 is shaping up to be a very different year for investors than 2020. After pulling back their market activity at the onset of the pandemic, investors had a business-as-usual winter, before capturing the highest market share seen in the last 10 years in the second quarter. Figure 1 shows the sh...