According to a new report, the average FICO score of an American mortgage borrower has hit its lowest point since 2008. Currently, the average borrower has a FICO score of just 729. Broken down by lender type, borrowers of bank-originated loans have an average FICO score of 743, while borrowers of independent, non-bank loans have an average score of 719.

New analysis shows that buyers in Pittsburgh need just $31K to purchase a median-priced home in the area. Cleveland and Cincinnati also require low salaries, while San Francisco, San Diego, and Los Angeles buyers need the highest salaries in the nation. San Fran buyers need salaries of $161K in order to buy.

The Federal Reserve will release the minutes of its April meeting on Wednesday afternoon, and if industry experts are on track, they could point to another rate hike on the horizon. Regional Federal Reserve Presidents Neel Kashkari, Robert Kaplan and James Bullard have all weighed in on the issue. The Fed previously raised rates from 0.75 points to 1 in March.

Freddie Mac’s latest summary report reveals an increase in both its total mortgage portfolio and its mortgage-related securities. Its mortgage portfolio rose 0.5 percent over the year, while its mortgage-related securities and guarantees jumped by 2.1 percent. The government-sponsored enterprise has funded $127 billion mortgages year-to-date.

Purchase loans are up and refis are down according to a recent report. Refis are down significantly over the past six months, while purchase loans are on the rise. Time to close is also narrowing for the month on both purchase and refi loans, averaging just 41 to 42 days per loan.

Today’s mortgage servicers are suffering from overly disparate technology solutions, and those disconnected systems are holding businesses back, according to a new report. In response to increased compliance follow the housing crisis, most available mortgage technology has become product-specific, and that’s created a disconnect that requires fractured, inefficient processes that are costly and unwieldy. The report proposes an overlay system to bridge the gaps and provide more consistency.

New data shows that the West—specifically the Northwest—had the top-performing market for Q1 2017. Seattle and Portland had two of the strongest showings in terms of price growth, while the region as a whole saw prices rise 8 percent over the year. The worst market for the quarter was Memphis, Tennessee.

Female renters have a harder time buying a home than their male counterparts. According to recent analysis, this is due to several factors, including lower wages, more student loan debt, more risk aversion, and lower credit scores. Closing the wage gap could help, though that isn't projected to happen until 2052.

A years-old case between Bank of New York Mellon and JPMorgan Chase is back on again—at least in part— after a New York state appeals court revived the suit this week. BNY claims that JPMorgan and affiliate WMC Mortgage breached contracts, failed to repurchase certain defective loans, and failed to provide notice of faulty loans. The case was originally filed in 2015.

Orlando is the single best spot for first-time homebuyers, according to a new analysis. Tampa took the No. 2, followed by other cities in the Southeast and Midwest. The analysis took into account median home value, forecasted values, inventory, and other factors.