Fannie Mae’s Jake Williamson and Appraisal Institute President Craig Steinley share their perspective with MReport about how the industry is working to improve the appraisal process in 2023.

The 2023 mortgage market began on a positive note, as Freddie Mac reported a week-over-week slide in mortgage rates leading to an uptick in refinance apps.

The MBA reports that, despite rates still in the 6% range, refinance apps increased 5% over the previous week—but are still 86% lower year-over-year.

Program applicants are invited to apply for grants of up to $3 million to scale solutions to housing challenges in markets lacking affordable housing.

Redfin reports that 2023 has begun with homes selling for nearly the same price as a year earlier, with nationwide prices up just 0.5% year-over-year.

Non-QM specialist adds 15-plus year industry veteran who will be responsible for assisting Mortgage Brokers and Correspondent Lenders scale their non-QM business operations.

The wild ride known as the U.S. housing market slowed dramatically in the fall of 2022, as mortgage rates surged and home prices remained high.

Freddie Mac reports that 2023 has begun with a second consecutive week of mortgage rate hikes, with app activity sinking to a quarter-century low as high rates continue to weaken the housing market.

Elevated mortgage rates continue to accentuate affordability concerns, keeping many prospective buyers out of the market. Meanwhile, the MBA reports application volume slid to close out 2022.

First American reports that between September 2022 and October 2022, rose nearly 9% month-over-month, with the rapid annual decline in affordability driven by a 12% annual increase in nominal house prices.