“Year-over-year home price growth decelerated in the third quarter, as the sharp rise in mortgage rates—and declining housing affordability—appears to have weighed further on demand,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

Special appraisal dollar-amount limits, along with thresholds for Regulation Z and Regulation M, were adjusted by the CPFB to better reflect the current economic environment.

Fitch Ratings expects that most issuers should be able to withstand current market conditions and potentially gain market share through scalable technology platforms, diversification, balance sheet strength, and access to liquid capital, all of which should afford them the flexibility to mitigate operational losses.

"First-time buyers now appear to be making relative gains as high mortgage interest rates disproportionately encourage current homeowners to stay put," said Manny Garcia, Zillow Population Scientist.

Over the last few weeks, markets have increasingly—and perhaps reluctantly—reflected the resolve of the Fed to lower inflation via rapid tightening of monetary policy," said Doug Duncan, Fannie Mae SVP and Chief Economist.

A new report required by law under the Helping Families Save Their Homes Act of 2009, a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act, showed that the majority of loans are current, and foreclosures remain below levels recorded before the pandemic.

“Over the last two months, the impact of major increases in mortgage rates and inflation have finally been realized in the slowing rate of home price appreciation. It is once again clear that home prices are not impervious to the broader economic conditions around the country,” noted Steve Gaenzler, SVP of Products, Data and Analytics for homegenius Real Estate.

New data from Black Knight, Inc. has found that most mortgages have a rate below 5%, which reflects current drops in refinance activity, as well as cash-out and rate/term locks.

More and more young adults are shattering misconceptions about modular and manufactured housing as many pursue these options to secure housing in an otherwise unaffordable market.

“OIG’s risk-based work will remain grounded in these areas, and our audits, evaluations, and other projects will continue to identify findings and make appropriate recommendations to FHFA to strengthen its work,” said Brian M. Tomney, Inspector General for the FHFA.