Daily Dose

With mortgage rates hitting a 23-year high and worsening affordability continuing to hamper potential homebuyers and renters nationwide, multigenerational households are becoming much more common, according to a new RentCafe report. Here’s what else the report reveals.

A new study has found that a lack of access to credit is preventing many renters from attaining homeownership, despite renters inhabiting areas where a monthly mortgage payment is less than rent.

As housing affordability and demand continue to worsen for Americans nationwide, the latest ICE Mortgage Monitor Report revealed that purchase-mortgage applications fell nearly 50% below pre-pandemic levels in October, representing the weakest numbers recorded since rates began to rise.

Redfin reports that affluent homebuyers drove luxury home sales to the highest third-quarter level on record, growing nearly three times faster than non-luxury home prices. Click through to read the full analysis.

A new analysis of National Low Income Housing Coalition data ranks the states where it takes the longest to save for a median-priced home utilizing the 50/30/20 rule—50% on needs, 30% on wants, and 20% on savings. Click through to view the rankings.

Bringing more than 20 years of experience in product development, capital markets, and the non-QM space to his new role, Brian Devlin will assume the role of Arc Home President and CEO.

Research report reveals unmet demand; opportunities for competitive advantage, operational efficiencies and connected communities.

The American Enterprise Institute has analyzed the FHFA’s appraisal-level dataset, digging deeper into a selected set of data fields found in appraisal reports. Click through to find out some of AEI’s findings regarding valuation bias.

A new HouseCanary report finds that housing inventory has probably peaked for the year, and the peak was the lowest recorded since the pandemic began. Is there any relief on the horizon?

While buyers contend with mortgage rates edging toward the 8% mark, Redfin reports that an increasing number of the nation’s home sellers are reducing their asking prices. Read the full data here.