Last market hits the finish line! A final update for HSH's Home Price Recovery Index.

Last market hits the finish line! A final update for HSH's Home Price Recovery Index.

HSH in the news - 2021

July 19, 2021: "Why the Lowest Rates You See Aren't What You'll Get", a Time/NextAdvisor look at mortgage market pricing by Jason Stauffer included some context from Keith Gumbinger, HSH.com's vice president:

Take advertised rates with a grain of salt
Advertised rates are never guaranteed. "[Advertised rates] are generally going to be the best possible rates to the best possible candidates with the best possible credentials," says Keith Gumbinger, vice president of the mortgage information site HSH.com. This won't apply for most people, Gumbinger says. When you see rates listed publicly, there is usually fine print that lays out the type of borrower those rates could apply to, such as someone with a 740+ credit score, 20%+ down payment, who is purchasing a single-family primary residence.

July 16, 2021: "HSH Provides Insights on How Credit Can Help or Hinder the Homebuying Experience", a BadCredit.org long-form feature discussion with Adam West and HSH.com VP Keith Gumbinger on the importance of getting your credit in shape when buying a home or refinancing:

"Right now, the housing market is a challenging place," said Keith Gumbinger, Vice President at HSH, a mortgage research platform. "Interest rates are very favorable, but there’s a lot of demand out there and not a lot of supply, and home prices are rising appreciably."
All of this makes for an especially competitive housing market. Higher prices also mean that potential homebuyers must qualify for larger loans. And to do that, they need assets, income, and a strong credit score.
"Getting your credit organized is probably the key if you want to engage in the housing market," Gumbinger said. "If your credit is not good, it’s not easy to borrow money these days. Good credit borrowers are well served. But for those folks further on down the ladder, not only does it get more expensive, it gets harder to find any responses from lenders."

July 8, 2021: "Mortgage Rates Are Their Lowest in Months. Will They Stay This Way?", a Barron's market update on mortgage rates by Shaina Mishkin included a quip from HSH.com VP Keith Gumbinger:

Keith Gumbinger, vice president at mortgage website HSH.com, said mortgage rates could continue to fall in the immediate future, "but the fundamentals that support higher rates remain in place."

July 5, 2021: "5 Real Estate Experts Predict Where Mortgage Rates Are Heading Next", a Money a long-range forecast for mortgage rates by Brenda Richardson includes an outlook from HSH.com vice president Keith Gumbinger:

Keith Gumbinger
Who he is: Vice president of HSH.com, a mortgage information website
What he expects: Mortgage rates will firm somewhat - perhaps reaching 3.4% or so in the next three or four quarters - as the economy continues to grow smartly and inflation remains elevated for at least a while.
His reasoning: Upward movement for mortgage rates will be tempered by several factors. These include stabilizing price pressures over time and the effects of both uncertainty and potential economic drag from changing tax and regulatory policies. The Fed will likely follow its 2015-2018 blueprint for tapering purchases of Treasury bonds and mortgage-backed securities, slowing and then halting the bond-buying program in gradual steps so as not to alarm financial markets.

July 1, 2021: "Mortgage Rates in the U.S. Slip, With 30-Year Loans at 2.98%", a Bloomberg News look at changing conditions for mortgage rates my Maria Heeter included some brief analysis from Keith Gumbinger, HSH.com's vice president:

"We're wandering in a very narrow range," said Keith Gumbinger, vice president at HSH.com. "Mortgage rates have been very stable, and surprisingly so, given that the economy is growing, given that there are inflation pressures that are evident out in the world."

June 25, 2021: "Financial Crisis Scars Tie Up $8.1 Trillion in U.S. Home Equity", a Bloomberg News review of emerging home equity building and borrowing conditions by Max Reyes featured commentary by HSH.com vice president Keith Gumbinger:

But despite the roaring housing market and economic recovery, lenders are still keeping a tight grip on home equity lines of credit, or Helocs, a primary way borrowers can turn value stored in a home into cash. Chalk it up to lessons learned from the last real estate crash, and other options for homeowners that may be less costly given today’s historically low mortgage rates.
"Many banks are still wary of the risks of making home-equity lines of credit," said Keith Gumbinger, vice president at mortgage-information company HSH.com. "For both banks and borrowers, cash-out refinancing can offer a very viable alternative for accessing the growing equity in their homes."

June 11, 2021: "Secrets of the Pros", a Real Estate Today podcast from the National Association of Realtors by Stephen Gasque included expert level tips and tweaks when getting a mortgage from Keith Gumbinger, HSH.com's vice president.

May 12, 2021: "Your Money's Worth podcast" , a Kiplinger long-form discussion on growing and using home equity between David Muhlbam, Sandra Block and HSH.com VP Keith Gumbinger:

Keith Gumbinger: Well, that's definitely where the increase in home equity to that $7.3 trillion has come from, especially in the last couple of years. Home prices have just been skyrocketing. I think the NAR reported March to March existing homes were 17% more expensive this year than last year. And that was on top of a double-digit increase the year before. So if you bought a home within the last couple of years, your equity has been coming up very quickly, mostly due to that fast home price appreciation.
Sandy Block: Because of this big increase in home equity, some people have had concerns about a bubble. They've been talking about making comparisons to 2008, but it looks like that's really not the case now. Not so many people are underwater anymore. Is that right, Keith?
Keith Gumbinger: That's absolutely correct. In fact, from the last downturn in real estate, which is now almost 15 years ago, very few people that actually bought homes at the peak might be still technically underwater in terms of their home value.
Read the transcript or listen to the podcast on Audible.

May 12, 2021: " Reverse Mortgages Have Evolved into Much Better Loans", a Reverse Mortgage Daily market update by Chris Clow included some commentary from Keith Gumbinger, HSH.com vice president:

"For a lot of borrowers, [reverse mortgages] can provide a great level of comfort and flexibility," Gumbinger says. "If you are someone who is, and I wouldn’t say simply living on Social Security, but whose retirement assets are meager, and if you’re in an expensive part of the world, and certainly on the coasts, very expensive, those tax bills come up every year. Maintenance bills come up every year. Your fixed income may not go as far as you thought it might or would."
Reverse mortgages can now be "a very important part" of a well-structured retirement plan, he says, but suffered significantly in their early days due to confusion about how the loan would be repaid after the borrower died or left the home, he says.

April 12, 2021: "Mortgage Rates Finally Fell", a Time review of mortgage market conditions by Jason Stauffer featured some quotes from HSH.com VP Keith Gumbinger:

While this small decline doesn’t look to be part of a bigger overall trend, it’s a temporary reprieve from the climbing rates we’ve had this year. "We’re kind of at a plateau right now for rates - upward pressure doesn’t seem to be as evident as it was back in February or early March," says Keith Gumbinger, vice president of the mortgage information site HSH.com. But flat mortgage rates won’t last if there are new indications showing higher than expected economic growth or inflation, he said.
Mortgage rates don’t seem to be poised for a severe change this week. "I think they’ll probably be reasonably stable relative to this week, wandering one way or the other by a couple of basis points," Gumbinger says.
Thanks to rising mortgage rates, potential homebuyers are now paying more for the same home loan now then they would have three months ago. But don’t expect this to put an end to the hot real estate market, where bidding wars have become standard."Interest rates aren’t the problem in the home buying market, at least coming into this spring" Gumbinger says."Inventories are so thin in the marketplace and competition for homes so strong, interest rates don’t play into that."

April 11, 2021: "Why a Cash-Out Refinance May Still Work for You", a Barrons review of mortgage borrowing conditions by Shaina Mishkin included some context from HSH.com VP Keith Gumbinger:

At its core, a cash-out refinance is a mortgage. Like other home loans, the rate is linkedto movements in the 10-year Treasury yield and is often fixed. "Fixed-rate, fixed-payment stability peace-of-mind is always welcome,: says Keith Gumbinger, vice president of mortgage website HSH.com.
There’s good reason to evaluate all options before tapping into equity."Lots of folkswho emptied out their equity in the last boom ended up underwater when home pricesretreated from unsustainable levels," says Gumbinger, who adds that standards haveincreased since the housing crisis. But using equity today could mean it won’t be theretomorrow. "For many folks, the equity in their home is their largest asset when retirement time comes around."
Home equity "can take a painfully long time to accumulate," Gumbinger says."You should always treat the equity in your home seriously and guard it."

March 25, 2021: "Tap Home Equity for Extra Income", a Kiplinger.com look at tapping your home equity by Rivan V. Stinson included some context from Keith Gumbinger, HSH's vice president:

"If you run into periods when the market’s not returning what you hoped, a HELOC could tide you over so that you’re not selling your investments at a bad time, says Gumbinger. It’s kind of a temporary subsidy." But temporary is the key word here - eventually, you won’t be able to withdraw any more from your line of credit and will have to start paying it back.
Before you take out a reverse mortgage or any other product that taps your home equity, talk it over with your family, says Gumbinger. "No one wants to talk about their finances, but you are thinking about making changes that could affect your spouse or your kids in the future - especially in the case of taking out a reverse mortgage," he says. To start your number-crunching, go to www.hsh.com.

March 16, 2021: "Don't Waste Your Money on These 23 Things", a Reader's Digest look at ways to save your hard earned cash by Amanda Walker and Jody L. Rohlena included a money-saving tip from Keith Gumbinger, HSH.com's vice president:

Credit Repair Services
Don’t fall prey to sales pitches from companies that promise they can fix your credit score for you. "There are all kinds of services out there that claim to have ways to get negative information removed," Andrew Pizor, an attorney at the National Consumer Law Center, told Money magazine. But there are only a few legitimate repairs that can be done, such as updating old information or correcting errors on your credit reports - all things you can do yourself, for free.
To improve your score, you should also try to pay down any debt you’re carrying, such as credit card balances, and pay all your bills on time, says Keith Gumbinger, vice president of hsh.com, a mortgage information website. That will get you a better FICO credit score in a few months - and a better interest rate on a mortgage, a credit card, or any loan.
"Someone with a fair credit score of 640 might pay about a full percentage point more for a mortgage than someone with a very good credit score of 740 or more," says Gumbinger.

March 15, 2021: "Mortgage brokers choose sides in UWM vs Rocket Mortgage war", a Detroit News mortgage-business article by Breana Noble included some quotes from HSH.com's vice president Keith Gumbinger:

"I don't think there will be tremendous effect on consumers of this decision by UWM. While competition is of course a good thing overall -- and more competitors make for a spirited marketplace -- there are a range of players in the wholesale space both large and small, so this decision shouldn't create difficulty for consumers in either getting access to mortgage credit or finding competitively-priced loans."

March 4, 2021: "Mortgage Rates Are Back Above 3%. Here’s Where They’re Headed Next", a Barron's consumer advisory by Shaina Mishkin featured perspective from HSH.com vice president Keith Gumbinger:

Despite the increase, rates remain relatively low from a historical perspective. "Although rates have risen off their recent bottoms, it’s important to keep in mind that they are only about as high as last August," Keith Gumbinger, vice president of mortgage website HSH, told Barron’s.
Some buyers could be priced out as mortgage rates and home prices rise, Gumbinger said. But "there may not be all that much impact on homebuying overall, but more of a tempering effect," Gumbinger noted.

February 19, 2021: "Mortgages 2021", a Real Estate Today podcast from the National Association of Realtors by Stephen Gasque included a review of current mortgage market conditions from Keith Gumbinger, HSH.com's vice president.

January, 2021: "Mortgage Lenders More Generous With Points", a Bottom Line Personal review of mortgage market conditions contributed by HSH.com Vice President Keith Gumbinger.

January 20, 2021: "UWM poised for growth, Ishbia to become a billionaire as lender goes public", a Detroit News article covering happenings in the IPO market by Breana Noble included some quotes from Keith Gumbinger, HSH.com's vice president:

"Most lenders have or are posting record levels of volume over the last year, so many companies are highly profitable," said Keith Gumbinger, vice president of mortgage-resource website HSH.com in an email. "That can make them attractive to investors, increasing the chances of a successful conversion from private to public."

January 15, 2021: "The Best Year Ever to Buy", a Real Estate Today Radio interview of HSH.com VP Keith Gumbinger by Stephen Gasque covered a range of mortgage market related topics.

(Listen Now, Show 623 at the 30:00 mark).

January 14, 2021: Get Ready for Higher Mortgage Rates. Here’s Why", a Barron's market update by Shaina Mishkin included some observations by Keith Gumbinger, HSH.com's vice president:

While increasing Treasury yields place more pressure on mortgage rates, it is not guaranteed that the two will move in lockstep, wrote Keith Gumbinger, vice president at mortgage website HSH.com, in an email to Barron’s. "Mortgage lenders are flush with profits and so may absorb some of the increase for a time in order to keep business flowing in." The Federal Reserve’s purchases of mortgage-backed securities, which help maintain liquidity in the market in times of crisis, also play a part, he said.

January 14, 2021: U.S. Mortgage Rates Surge to Highest Level in Two Months, a Bloomberg.com look at changing mortgage market conditions by Donald Moore and Alex Wittenberg featured some analysis from HSH.com's vice president Keith Gumbinger:

Keith Gumbinger, vice president at mortgage-information company HSH.com, agreed that housing demand won’t take much of a hit from the latest rise in rates. He said the jump to 2.79% from a record-low 2.65% last week would translate to less than $15 a month more on a $200,000 loan.
The question now is if rates will continue to climb. As vaccines roll out there’s optimism about an economic recovery if social-distancing guidelines ease. That could keep rates from dipping to new record lows.
"It’s worth keeping in mind that the worst economic conditions bring the lowest mortgage rates," Gumbinger said. "Mortgage rates are more likely to be a little firmer over time, or at least have fewer reasons to continually revisit record-low levels."

January 7, 2021: U.S. Mortgage Rates Hit New Record Low With 30-Year at 2.65%, a Bloomberg.com market bulletin by Donald Moore and Prashant Gopal included some commentary from HSH.com vice president Keith Gumbinger:

Low borrowing costs -- down more than a percentage point from a year earlier -- have fueled a pandemic housing boom that has pushed the country toward an affordability crisis as home prices rise swiftly and listings grow ever more scarce. Mortgage rates are poised to rise modestly this year, said Sam Khater, Freddie Mac’s chief economist, potentially threatening the rally.
Home prices "have been on an unsustainable rise -- that’s not something you can repeat year after year because income’s not rising that quickly," Keith Gumbinger, vice president at mortgage-information company HSH.com, said in an interview.
For now, low rates are helping to offset higher prices, "but if rates have stopped falling, you’ve lost that offset, and that begins to crimp affordability," he said.

Back to HSH.com in the News — 2020

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