The Nadlan Group Real Estate Podcast

Builder Mortgage Rate Buydowns Spike as Buyers Struggle With Affordability

Homebuilders are increasingly relying on mortgage rate buydowns to help buyers manage today’s high housing costs — and the strategy is reshaping the new-construction market. Instead of cutting prices, builders are using “permanent rate buydowns,” where they pay upfront to secure a lower mortgage rate for buyers through bulk rate commitments. Because many major builders now own their own mortgage companies, offering these incentives has become easier and far more cost-effective.
 
The math explains why this trend is exploding. According to the American Enterprise Institute, lowering a buyer’s mortgage rate by just one percent costs a builder about 3.2% of the home price. To get the same reduction in monthly payment through a price cut alone, a builder would have to slash the price by 10%. That’s why permanent buydowns have quickly become the preferred tool — they deliver a better payment for buyers at a much lower cost to the builder. They also help avoid the domino effect of widespread price cuts across entire communities.
 
AEI’s data shows the strategy is now mainstream: 64% of new-construction homes sold by major builders in the first half of the year included a permanent buydown, typically lowering the rate by 1.3%. Meanwhile, over 40% of builders also cut prices, but the average reduction is just 6%, showing that builders are trying to balance incentives without weakening home values.
 
Still, some analysts warn of side effects. Experts like Sandeep Shivam of Tavant say large-scale buydowns can distort true home values and make risk assessments harder for lenders. He believes the industry needs better AI-driven tracking to identify which homes include builder-funded buydowns so lenders and buyers can see the “real” effective price and potential long-term affordability risks.
 
Resale homes are also feeling the impact. Builder incentives make monthly payments on new homes much more attractive, even if list prices remain high. As a result, existing-home sellers in many markets are being forced to cut prices just to compete with new construction that offers below-market rates.
 
Overall, mortgage buydowns have become one of the most important tools in a housing market shaped by high rates, affordability challenges, and payment-sensitive buyers. And with mortgage costs still elevated, experts expect these buydowns to remain a dominant strategy well into next year. 
 
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https://www.forumnadlanusa.com/2025/11/builder-mortgage-rate-buydowns-surge-as-affordability-pressures-mount/
#HousingMarket #MortgageRates #HomeBuilders #RealEstateNews #AffordabilityCrisis

Mortgage Rates Stay Steady as Key Economic Data Finally Returns

Mortgage rates held steady on Tuesday as financial markets finally began receiving long-delayed government economic data following the end of the federal shutdown. For weeks, lenders and investors have been operating in a data vacuum, uncertain about the true state of the economy. Now that federal agencies are slowly reopening, the flow of economic reports is beginning to resume — and markets are watching closely for clues on where mortgage rates may head next.
 
One of the most important releases, the September jobs report, is now officially rescheduled for Thursday. This update was originally expected more than a month ago, and analysts say it could play a major role in shaping both bond market direction and mortgage rate expectations. Many other key indicators — including inflation, spending, and housing-related data — still have no confirmed release dates as agencies work through large backlogs. Even with the restart underway, officials caution that the catch-up process will take time.
 
This morning brought a surprise when the government unexpectedly published weekly jobless claims data without warning. While the release caught the market off guard, it did not have any meaningful impact on mortgage rates. Jobless claims are helpful for tracking short-term labor shifts, but they lack the broader influence of the monthly employment report. Still, the unannounced release signals something important: federal data is finally moving again, offering markets a clearer view after weeks of uncertainty.
 
Even beyond the incoming economic numbers, investors are preparing for another key moment. On Wednesday at 2 p.m. ET, the Federal Reserve will release the minutes from its late-October meeting. Although the minutes won’t reveal any new policy decisions, they often provide valuable insight into how Fed officials are thinking about inflation, job trends, and future risks. With markets divided on whether the Fed will cut rates in December, any shift in tone could influence mortgage rate expectations heading into the final weeks of the year.
 
For now, rates remain locked within a narrow range, waiting for clearer signals from both the revived government data and the Fed’s upcoming commentary. As the backlog of reports is released in the coming days, mortgage rates may finally begin reacting more noticeably — but today’s stability reflects a market that is cautiously waiting for confirmation before making its next move.
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#MortgageRates #HousingMarketUpdate #EconomicNews #FederalReserve #RealEstateInsights

Portable Mortgage Idea Gains Momentum as Lawmakers Look for Ways to Improve Housing Affordability

As housing affordability remains one of the biggest challenges in today’s market, the Trump administration is now exploring a dramatic new idea: allowing homeowners to take their existing mortgage rate with them when they buy their next home. FHFA Director Bill Pulte revealed that the administration is actively evaluating a “portable mortgage” — a loan structure that would let homeowners keep their current interest rate instead of being forced into today’s much higher rates.
 
Right now, the housing market is heavily constrained by what experts call the “rate lock-in effect.” Millions of Americans hold mortgage rates below 4%, while new buyers face rates closer to 6% or 7%. That gap is preventing many homeowners from moving, since selling their home would mean giving up a rate they may never see again. According to Redfin’s analysis of FHFA data, this lock-in effect is one of the biggest reasons inventory remains extremely low, creating tight competition and keeping prices elevated.
 
A portable mortgage could change that dynamic. Sam May, co-founder of Homer, says both the portable mortgage idea and the recent discussion around 50-year mortgages share the same purpose: bridging the divide between homeowners benefiting from ultra-low pandemic-era rates and first-time buyers stuck with today’s expensive borrowing costs. May explains that if homeowners could keep their low rate when they move, it would free them to sell without being punished by higher payments. It would also help first-time buyers compete more fairly, since monthly payments — not decades-old interest rates — would drive affordability.
 
But making portable mortgages possible would be a major challenge. Mortgage broker Carlos Scarpeo points out that U.S. mortgages are usually bundled into securities and sold on the secondary market, not held by lenders. This means interest rates are locked into those securities, making it extremely difficult to “move” a rate from one loan to another. To implement portability, the entire system of mortgage funding and securitization would need significant restructuring. As Scarpeo put it, this is not a change that could happen quickly.
 
Despite these challenges, the idea is gaining attention. An FHFA spokesperson confirmed to CNN that the agency is actively reviewing several potential tools to reduce housing costs and improve mobility in the market, and portable mortgages are one of them. Whether the concept becomes an official proposal or policy remains unclear, but it reflects the increasing urgency to address affordability, unlock inventory, and help both existing owners and new buyers navigate a market constrained by high rates.
 
For now, portable mortgages remain a possibility rather than a promise — but the discussion highlights just how far policymakers may be willing to go to relieve pressure in the housing market and create new pathways toward ownership and mobility.
 
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https://www.forumnadlanusa.com/2025/11/portable-mortgage-proposal-gains-attention/
#HousingAffordability #MortgageRates #RealEstateNews #Homebuyers #HousingMarketUpdate

New Study Shows High Housing Costs Are a Major Reason Behind Falling U S Birth Rates

A new study is shedding fresh light on one of America’s biggest demographic challenges: the declining birth rate. For years, experts have pointed to cultural shifts, rising living costs, and lifestyle changes as the main reasons fewer people are having children. But this new research suggests that one factor in particular may be far more influential than previously understood — housing affordability.
 
According to the study by Benjamin K. Couillard, an economics researcher at the University of Toronto, rising housing costs explain more than half of the fertility decline that occurred from the 2000s to the 2010s. The data reveals a clear connection: when rents rise, young adults delay forming families, and birth rates fall. Simply put, the ability to afford an appropriate home or apartment is becoming a deciding factor in whether Americans feel ready to have children.
 
The U.S. birth rate is already at a historic low, sitting at 1.6 births per woman — well below the 2.1 needed to sustain the population. And as the country ages, having fewer young adults entering the workforce creates long-term challenges for the economy, healthcare systems, and social programs.
 
Couillard’s research shows that high rents are doing more than just squeezing budgets. They are shaping major life decisions. Since 1990, U.S. rents have surged by 149%, far outpacing inflation. That rise has led to 11% fewer children being born, 51% of the fertility rate decline, and 7% fewer families forming. Many young adults are staying in smaller apartments, living with relatives, or delaying moving into homes that are suitable for raising kids — and that has a measurable impact on future family plans.
 
Experts say this research doesn’t mean housing is the only cause of declining birth rates, but it’s a major piece of the puzzle. Scholars like Theodore Cosco argue that fixing the issue requires a broader support system — from affordable childcare to paid leave and accessible healthcare — but agree that housing must be central to any long-term solution.
 
Other economists note that lower fertility rates can also reflect positive changes, like increased reproductive freedom and more control over family timing. Still, as affordability challenges deepen, the economic pressures many young people face are becoming a more dominant factor in delaying parenthood.
 
The bottom line: housing affordability isn’t just a real estate issue — it’s becoming a demographic one. With rents hitting record highs and homeownership out of reach for many young adults, more people are postponing having children, not by choice, but because financial reality leaves them little room to plan for a family. As the U.S. grapples with an aging population and a shrinking workforce, the conversation about how housing shapes family decisions is likely to become even more urgent.
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https://www.forumnadlanusa.com/2025/11/new-research-links-u-s-fertility-decline-to-high-housing-costs/
#HousingCrisis #BirthRateDecline #AffordabilityCrisis #FamilyPlanning #EconomicTrends

Why Tough Conversations Help Loan Officers Reach Their Full Potential

Helping loan officers grow isn’t just about celebrating their wins — it often requires tough, honest conversations. Many LOs are independent and talented, but that same independence can make it difficult for them to recognize the habits that hold them back. When leaders approach these conversations with support rather than criticism, they create opportunities for real growth.
 
A key part of an LO’s success is their personal brand. Every interaction — an email, a voicemail, a social profile — shapes how agents and borrowers see them. Strong branding builds trust and opens more doors, while sloppy communication quietly pushes business away.
 
Growth also depends on continuous learning. The mortgage industry changes fast, and strategies that worked years ago may fall short today. Coaching isn’t about pointing fingers; it’s about keeping professionals sharp in a constantly shifting market.
 
Communication style matters too. Some LOs speak one way to every client, but what works for an investor may overwhelm a first-time buyer. Great LOs adapt their tone and approach without losing authenticity.
 
Technology is another sticking point. Some believe digital tools get in the way of relationships — but in reality, automation and smart systems free them to spend more time with clients and less time fighting fires.
 
And while many high-producers pride themselves on doing everything themselves, the truth is that delegation strengthens their business. Relying on team support allows them to focus on relationships, referrals, and closings.
 
Speaking of referrals — networks don’t grow on autopilot. Markets shift and clients move on. LOs need active, ongoing engagement to keep their referral pipelines strong.
 
Finally, instincts aren’t enough for pipeline management. Structured tracking helps LOs stay organized, spot problems early, and scale sustainably.
 
The goal of these conversations isn’t to change who an LO is — it’s to unlock their potential. Delivered with clarity, empathy, and real support, these talks help loan officers grow into stronger professionals and ultimately strengthen the entire organization.
 
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#MortgageLeadership #LoanOfficerGrowth #MortgagePros #SalesCoaching #BusinessDevelopment

New Foreclosures Jump 20% in October, Pointing to More Stress in the Housing Market

New foreclosure data shows growing financial pressure on U.S. homeowners as filings continued climbing in October. ATTOM reported 36,766 properties with foreclosure activity during the month, marking an eighth straight year-over-year increase and a 19% jump from last October. While still far below the levels seen during the Great Recession, the steady rise reflects the strain caused by high housing costs, expensive insurance, rising consumer debt, and a cooling job market.
 
Foreclosure starts rose sharply — up 6% from September and 20% from a year ago — and completed foreclosures climbed 32% annually, signaling that more distressed properties are beginning to move all the way through the process. Florida, South Carolina, and Illinois posted the highest filing rates, while metros such as Tampa, Jacksonville, and Orlando topped the list nationwide. Completed foreclosures were most common in Texas, California, and Florida, where financial pressure and high homeownership costs are intersecting.
 
Even with the increases, foreclosure levels remain significantly below historic peaks. During the Great Recession, more than 4% of mortgages were in foreclosure; today, that number sits below 0.5%. But early warning signs are emerging. FHA loans are seeing rising trouble, with more than 11% behind on payments and over half of all seriously delinquent mortgages tied to FHA borrowers. States with falling home prices and soaring insurance premiums—especially Florida and Texas—are seeing more homeowners fall behind.
 
Many of today’s struggles come from the mismatch between expectations and reality. Some homeowners expected mortgage rates to fall quickly after the Federal Reserve began cutting rates, but borrowing costs remain near recent highs. Combined with record consumer debt, rising delinquencies in credit cards and auto loans, and a softening labor market, financial pressure is building for more households. While economists do not expect a 2008-style foreclosure crisis, the current trend shows that distressed activity may continue rising into 2026, especially if unemployment climbs or budgets remain tight.
 
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https://www.forumnadlanusa.com/2025/11/new-foreclosures-jump-in-october-as-signs-of-housing-stress-grow/
#ForeclosureUpdate #HousingMarket2025 #RealEstateTrends #HomeownerStress #MarketWatch

Home Prices Rise in Most U S Metros in Q3 as Tight Supply Keeps Values Moving Up

New data from the National Association of Realtors shows that most U.S. housing markets continued to see rising prices in the third quarter of 2025 — even though overall sales activity remained subdued. Out of 230 metro areas, 176 posted year-over-year price increases, meaning nearly 8 out of 10 markets still moved higher despite economic uncertainty and higher mortgage rates.
 
Nationwide, the median price for an existing single-family home reached $426,800, rising 1.7% from last year. While this matches Q2’s growth pace, the price acceleration is becoming more concentrated. Only 4% of metros saw double-digit gains, showing that the market is cooling but not correcting.
 
Regional differences remain wide. The Northeast led the nation with a 6% price increase thanks to extremely tight supply, while the Midwest posted a solid 4.2% gain supported by affordability and stable demand. In the South, price growth slowed dramatically to just 0.5% as new construction improved inventory. The West saw a slight 0.1% dip, reflecting a mild reset after years of steep appreciation.
 
Some metros saw standout growth, including Trenton, Lansing, Nassau–Suffolk, New Haven, and New York City, where prices surged between 8% and 10%. These increases stem largely from limited supply and strong buyer demand in affordable or strategically located markets.
 
High-cost coastal markets remained the most expensive in the nation. San Jose once again topped the list with a median price close to $1.9 million, followed by Anaheim, San Francisco, Honolulu, and San Diego — many of which saw only slight changes in pricing, showing how insulated these markets remain.
 
Affordability did improve slightly as mortgage rates eased from their peaks. The typical monthly payment on a median-priced home fell 2.8% from Q2, though it’s still higher than a year ago. For the average household, mortgage payments now consume 24.8% of income — a modest improvement but still elevated. First-time buyers face even bigger hurdles, with monthly payments on a starter home eating up more than 37% of income.
 
Overall, the Q3 numbers reveal a market caught between weak sales and firm pricing. People are buying fewer homes, yet values remain resilient because inventory is still too low. Until more supply comes into the market, home prices are likely to remain supported, even in a slower sales environment.
 
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https://www.forumnadlanusa.com/2025/11/most-metro-areas-saw-home-price-gains-in-q3-even-as-sales-stayed-slow/
#HousingMarket2025 #RealEstateTrends #HomePricesUpdate #MarketInsights #NARReport

New Study Shows Mortgage Satisfaction Rising as Lenders Use More Personal and Hybrid Support

Mortgage satisfaction is rising for the first time in four years as lenders shift away from fast, high-volume transactions and toward more personal, guidance-driven service. According to J.D. Power’s 2025 U.S. Mortgage Origination Satisfaction Study, lenders are reshaping the borrower experience by blending human support with smarter digital tools — and customers are responding with higher levels of trust and loyalty.
 
Customer satisfaction jumped to 760 out of 1,000, up 33 points from 2024, marking one of the strongest improvements in recent years. Borrowers say communication is clearer, expectations are better managed, and lenders are doing a far better job explaining options throughout the process. This advisory-style approach is proving critical: 79% of borrowers said lenders gave helpful, actionable advice, and those who felt genuinely supported were more than twice as likely to return for another loan in the future.
 
Early engagement is another major factor driving better experiences. Satisfaction rises significantly when lenders reach out before buyers begin shopping for a home, helping them understand their financing choices sooner. But when the first real interaction happens during the application stage, satisfaction drops sharply, showing how important early education and guidance have become.
 
AI is also becoming a normal part of the mortgage experience — but transparency remains essential. Most borrowers are comfortable with AI tools if lenders explain when and how the technology is being used. People want faster processing, but they still value clear communication and human oversight.
 
The study also ranked lenders based on overall customer satisfaction. Citi placed highest with a score of 802, followed by Bank of America at 792 and Citizens at 787. These top performers excelled in communication, digital usability, trust, and personalized support.
 
Overall, the 2025 study shows the industry entering a new phase. Borrowers no longer want a purely digital or purely human experience — they want both. Lenders who combine efficient technology with strong, personal guidance are earning the highest marks, building stronger relationships, and creating a smoother path from application to closing. As more lenders adopt this hybrid model, mortgage satisfaction is likely to keep rising in the years ahead.
 
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#MortgageNews #HousingMarket2025 #HomeLoanTrends #RealEstateInsights #MortgageCustomerExperience

Mortgage Rates Move Higher, Touching Their Highest Levels in Nearly Two Months

Mortgage rates closed the week a bit higher, and while the increase was small, it was enough to push averages back near their highest levels in almost two months. Rates have been drifting upward throughout the week, and today’s move kept them stuck near the upper end of their recent trading range.
 
Early this morning, it briefly looked like things might go the other way. The bond market saw a burst of strong buying around 7 a.m., which usually helps bring mortgage rates down. At the same time, the stock market hit its lowest point in several weeks — another signal that typically supports falling rates. But that momentum quickly collapsed. By around 9 a.m., both markets had reversed course. Stocks recovered some of their early losses, and bonds surrendered all of their morning gains. Because mortgage rates move with bonds, the shift wiped out what could have been a small improvement in pricing.
 
With bonds finishing the day weaker, lenders had no reason to reduce rates. The result was a modest increase that kept rates near the top of their recent range.
 
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https://www.forumnadlanusa.com/2025/11/mortgage-rates-rise-approaching-two-month-highs-after-early-bond-strength-fades/
#MortgageRates #HousingMarketUpdate #InterestRateForecast #EconomicNews #RealEstate2025

September Jobs Report Set for Release as Shutdown Ends and Delayed Data Begins Returning

With the federal government finally reopening, attention is now shifting to the long-delayed economic data that investors, analysts, and the Federal Reserve have been waiting for. The shutdown halted nearly every major federal report for weeks, disrupting the normal flow of information that guides financial markets and policy decisions. The Bureau of Labor Statistics confirmed that the first report to return — the September nonfarm payrolls number — will be released Thursday at 8:30 a.m., marking the first major economic update since the shutdown began. However, it won’t include the unemployment rate because the household survey, which requires in-person and phone interviews, couldn’t be conducted while agencies were closed.
 
The shutdown created significant gaps in the data pipeline. Aside from the September CPI, which was required to calculate Social Security cost-of-living adjustments, the government released no major reports. Some data, like October CPI, may never be recovered because it relies on time-sensitive, in-person collection that cannot be reconstructed. Both the BLS and BEA have warned that it will take time to rebuild accurate release schedules and ensure the quality of delayed reports.
 
In the absence of government numbers, markets were flying blind. Economists called it a “data fog,” where policymakers and investors had to rely on private-sector estimates to gauge the economy’s direction. This sparked frustration on Capitol Hill, with several senators accusing the administration of unnecessarily withholding information and demanding that agencies immediately publish a revised release schedule similar to what was done after the 2013 shutdown.
 
Many key reports — including October jobs, inflation data, JOLTS, productivity, retail sales, trade numbers, and the Fed’s preferred PCE inflation reading — still lack confirmed release dates. Officials hope to move quickly, but accuracy must be verified before public release. Retail sales, income, and spending data from the Commerce Department are also pending, further complicating the economic picture.
 
The timing of these releases is critical for the Federal Reserve. Officials meet on December 9–10, and most economists believe the Fed will need at least September, October, and November payroll numbers before deciding whether to cut rates. Some Fed members have recently questioned the need for another cut, citing mixed inflation signals and gradual cooling in the labor market. Jerome Powell has noted that alternative data suggests conditions haven’t changed significantly, but without official numbers, uncertainty remains unusually high.
 
The next few weeks will be packed and unpredictable as agencies work to catch up and the Fed tries to interpret the delayed data. The return of the September jobs report is an important first step, but a full restoration of federal economic reporting may take longer — and could influence the Fed’s next move as the year comes to a close.
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https://www.forumnadlanusa.com/2025/11/september-jobs-report-will-be-released-thursday-as-shutdown-delays-start-to-clear/
#EconomicUpdate #MarketNews #FederalReserve #JobsReport #Economy2025