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Factors That Defined Housing in 2020

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Factors That Defined Housing in 2020 Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago February 25, 2021 997 Views Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. in Daily Dose, Featured, Market Studies, News Many of the factors that defined 2020’s state of the housing market—low mortgage rates, dwindling inventory, and a refinancing frenzy, to name a few—have been exhaustively reported. LendingTree’s VP and Chief Economist Tendayi Kapfidze dug a little deeper to explore other mortgage and housing trends including what kind of borrowers got home financing, how mortgages were structured, and how Americans managed debt.The full report is on LendingTree.com, but here a few things stand out.One of the first topics Kapfidze touches upon is homeownership and equity. He points out that Americans have amassed $20.4 trillion in home equity, adding that equity isn’t necessarily equal.”Although Americans have a staggering amount of home equity, real estate wealth is becoming increasingly concentrated in the hands of fewer homeowners as overall homeownership rates fall.”He goes on to mention the mildly surprising fact that fewer Americans own homes today than in 2004.”In 2004, 69% of all Americans owned homes. Today, that number has fallen to 65.8%.”The economist says mortgage origination levels have recovered from their housing crisis lows.”In 2008, financial institutions originated just $1.4 trillion in new mortgages. However, by 2016, new first-lien mortgages topped $2 trillion. Though that number fell in subsequent years, it rose to $2.38 trillion in 2019 and continued to rise to $2.49 trillion through the third quarter of 2020.”From where are borrowers securing the most loans? Kapfidze says that in 2010, three banks (Wells Fargo, Bank of America, and Chase) originated 56% of all mortgages.”Since 2010, though, the number of mortgages originated by nonbanks has increased; nonbanks, with more lenient lending standards now originate the majority of mortgage loans,” he said.The role of federally controlled lenders has changed, he notes.”As private securitization firms exited the mortgage landscape, programs from the Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) have filled in some of the void,” Kapfidze said. “FHA and VA loans can help qualified borrowers get loans despite having smaller down payments or lower incomes and credit scores. FHA and VA loans accounted for 17.4% of all loans issued in Q3 2020, down from 19.5% compared to the same period in 2019.”What sort of credit it takes to secure a loan has been a moving target of sorts over the past decade. Today, the pandemic might be contributing to tightening standards.”As of November 2020, the median FICO Score for a newly originated mortgage was 786. Though the credit score needed to be approved for a mortgage varies, this high median score can be attributed in large part to tightening lending standards in the wake of the COVID-19 pandemic,” Kapfidze said.The pandemic among many things has impacted delinquency rates, which were 2.8% in Q3 2020, well below the 2010 peak of 11.5%.”These low rates in the face of recession can be attributed to a variety of factors, including an uptick of mortgages in forbearance as well additional unemployment benefits supplied by the government.”In Kapfidze’s words, here is a summary of the study’s further findings:Total mortgage debt as of Q3 2020: $10.8 trillionAverage mortgage balance as of April 2020: $151,686Average new mortgage balance as of 2019: $285,434Homeownership rate (share of owner-occupied homes) as of Q4 2020: 67%Homeowners with a mortgage as of 2019: 63%Median credit score for a new mortgage as of Q3 2020: 786Average down payment made as of Q3 2020: $15,023Mortgages originated in 2019: $2.38 trillionShare of purchase mortgages originated by nonbank lenders as of Q3 2020: 69%Share of refinance loans originated by nonbanks as of Q3 2020: 73%Share of mortgages with a delinquency rate of 30 days or more as of Q3 2020: 2.81% Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Factors That Defined Housing in 2020 Previous: Market Still at Risk of Future ‘Zombie’ Property Wave Next: Number of Hispanic Homeowners Expected to Soar by 2040 2021-02-25 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Share 1Save About Author: Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Grant glad to be in Brundidge

first_imgSkip Anita Grant, new principal at Pike County Elementary, says she is a Brundidge girl at heart.Editor’s note: This is the second in a series of articles introducing new campus principals throughout Pike County.Anita Grant said without hesitation that Brundidge is “my town.”It has been since she was a young girl and her family drove “all the way” from Jack to Brundidge on Saturdays to shop. Print Article Email the author Book Nook to reopen Latest Stories By Jaine Treadwell By The Penny Hoarder Troy falls to No. 13 Clemson Published 2:36 pm Tuesday, July 26, 2011 Around the WebDoctor: Do This Immediately if You Have Diabetes (Watch)Health VideosIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthBet You’re Pretty Curious About Jaden’s Net Worth Right About Now, HuhBradofoThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel The Penny Hoarder Issues “Urgent” Alert: 6 Companies… “When I was in elementary school, I got my two new dresses and school shoes each year at The Star Store,” she said. “Brundidge is special to me because it is my town. I am blessed to be here.”Grant is the newly appointed principal of Pike County Elementary School. Just as she is not new to Brundidge, she is not new to its schools.She has been the assistant principal at PCES for the past four years and she also taught science at Pike County High School for three years. Sponsored Content “I’m blessed to be in Brundidge and blessed to have this opportunity at Pike County Elementary School,” Grant said. “It’s a wonderful school with a wonderful faculty.”Grant said her responsibilities as principal will be different from those as assistant principal.“As assistant principal, I handled the overflow from the principal,” she said. “Now, I will delegate and that means much more responsibility.”That responsibly includes providing leadership for the 35-member faculty and about 470 kindergarten and elementary students. Grant said under her leadership it will be business as usual at PCES and “business” is good.“We have an outstanding faculty that can work on its own and we have students that are eager and willing to learn,” she said. “I would like for us to be more community oriented. I want our school to be more involved in the community, and the community to be more involved with us. I’m seeking ways to do that.The school’s PTO is not as strong as Grant would like.“I want our parents to feel that they are part of our school,” she said. “I want to build a trust between our school, our students, our parents and our community. One way that we can do that is through a strong parent/teacher organization.”Grant has 15 years of teaching experience and six years as a school counselor.She began her career in Coffee County where she taught for five years before moving to Talladega where she taught another five years.She moved back to Coffee County and worked with the cooperative education program. She earned a master’s degree in counseling and worked at Goshen Elementary School and then at Pike County High School.During that time, Grant received a degree in school administration.She has been a part of the changes in education over the past two decades.“Discipline is different now but we are fortunate here at Pike County Elementary School in that area because our students are well-disciplined,” she said. “Generally, parental support is not as strong as it used to be but we have a group of interested and hard-working parents. It’s good here at Pike County Elementary School.”For Grant, education is her passion. It’s what she has always wanted to do.“As long as I can remember, I’ve wanted to be a teacher,” she said.Grant said that she finds enjoyment and fulfillment in working with children.“As assistant principal, I was in the classroom often and I will be as principal,” she said.The learning process is an exciting thing to be a part of and Grant is not about to miss that.“I’m excited about the new school year,” she said. “We’ve been working hard to get everything ready when the students arrive. We want everything to be just right.”Grant is joined on the administrative staff by Shantell Rouse, who will be the assistant principal, and an important member of the school’s leadership team.“We are a team here at Pike County Elementary School and, as a team, we can accomplish much,” Grant said. Remember America’s heroes on Memorial Day Plans underway for historic Pike County celebration You Might Like Commission reviewing employee handbook Pike County Commissioners are considering revisions to the employee handbook in an attempt to save elected officials an “unnecessary step”… read more Grant glad to be in Brundidge Pike County Sheriff’s Office offering community child ID kitslast_img read more