Daily Dose

After seven straight months of positive sentiment in builder confidence, mortgage rates exceeding the 7% mark, as well as high shelter inflation, have eroded housing affordability and put a damper on consumer demand.

Realtor.com's latest rental report found July as the third consecutive month reporting year-over-year rent declines, meaning "the rental landscape is showing signs of improvement," according to Realtor.com Economist Jiayi Xu.

Between 2020 and 2040, some 70% of new homeowners are projected to be Hispanic, according to a new study from the Urban Institute. It reveals the Latino homeownership rate was just over 50% in 2021, representing the highest rate for Latinos since 2009.

"The inventory situation is unique—we are seeing it differ across the country depending on what area, but demand for housing is still strong. As rates stabilize, consumers' confidence should strengthen, helping boost market activity," says Nick Bailey, President and CEO of RE/MAX LLC.

RentCafe's August Rental Activity Report revealed Arlington, Virginia was named the most sought-after city by renters for the second consecutive month, while New York City boroughs like the Bronx and Queens trailed closely behind.

HUD announces changes to a rule that will expedite much-needed assistance in providing housing and supportive services to the growing homeless population in Los Angeles.

With more than 30 years of industry experience, the company’s new Division EVP/National Production Manager will be responsible for all distributive retail sales in 115 nationwide mortgage centers across 43 states.

A new ATTOM report revealed median home values increased from Q1 to Q2, as Opportunity Zones around the country have rebounded after a period of strong decline, showing more signs of housing market strength.

“Volume picked up during the spring homebuying season and additional personnel were shed. However, the substantial cost savings per loan was not enough to put the average net production income in the black,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.

Rob Nunziata of ActiveComply discusses how the mortgage industry was impacted by the pandemic, the liabilities that a work-from-home staff bring, and how home lenders and servicers are managing this risk.