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Tag Archives: VA Loans

Affordability Challenges Hindering Prospective Homebuyers

Two new studies from the National Association of Realtors show that elevated home prices and limited housing supply are continuous homebuying barriers cited across different races and ethnicities, hampering home sales and affecting prospective buyers nationwide.

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Mortgage Applications Reach Lowest Level in Nearly Three Decades

“Mortgage applications decreased for the seventh time in eight weeks, reaching the lowest level since 1996,” said Joel Kan, MBA’s VP and Deputy Chief Economist. “Last week’s decline was driven by a 5% drop in refinance applications, to the weakest reading since January 2023.”

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Mortgage Credit Availability Falls to Lowest Level in a Decade

“Mortgage credit availability declined to its lowest level since 2013, as lenders pulled back on underutilized loan programs and as liquidity concerns remain for some jumbo lenders,” said Joel Kan, MBA’s VP and Deputy Chief Economist. "Declining origination volumes have led to lower profitability for many lenders, resulting in narrower loan product offerings to reduce operational costs.

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Mortgage Credit Availability Experiences Modest Bump

“Mortgage credit availability was essentially unchanged in June, remaining close to the lowest level since early 2013, as the industry continues to operate at reduced capacity,” said Joel Kan, Mortgage Bankers Association VP and Deputy Chief Economist.

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