“U.S. housing starts in May came in above consensus expectations at a seasonally adjusted annual rate of 1.63 million, which is 21.7% above the revised April estimate of 1.34 million and 5.7% above the May 2022 rate of 1.54 million,” said First American Economist Ksenia Potapov.
Read More »Home Purchase Mortgage Apps Increased Nearly 17% in May
“Applications for purchase loans were up on a monthly basis and increased annually for the fourth consecutive month," said Joel Kan, MBA’s VP and Deputy Chief Economist. "Our estimate of new home sales also jumped in May, up 16% to the fastest pace of new home sales in 15 months.”
Read More »Housing Vouchers Could Be Key to Reducing Racial Homeownership Gaps
The Housing Choice Voucher homeownership program could help reduce the racial homeownership gap in the U.S., allowing households with a voucher to use it for mortgage payments rather than rent, advancing homeownership opportunities for Black non-Hispanic households.
Read More »David Smith Appointed Head of Truist Mortgage
A veteran of two decades in the industry, David Smith is promoted to new role with Truist, leading strategy and execution for all areas of mortgage including originations, fulfillment, nationwide direct channels, correspondent, warehouse lending, and servicing.
Read More »Midwest Tops List of Most Popular Cities for Renters
According to RentCafe's June Rental Activity Report, the top four most popular cities for renters are located in the Midwest, while Kansas City, Missouri, was named the most sought-after city by renters nationwide.
Read More »Homeownership Rate Continues to Grow, Particularly Among Below-Median Income Families
Amid larger macroeconomic uncertainties, the total homeownership rate can be attributed to the strong growth in the below-median income homeownership rate, which has sharply increased since 2016.
Read More »Home Builder Confidence Shifts Into Positive Territory
For the first time in nearly 11 months, solid demand, a lack of existing inventory, and an improvement in supply chain efficiency have all contributed to an uptick in home builder confidence nationwide.
Read More »Recognizing the Industry’s Most Distinguished Women Leaders
Nominations have opened for the 2023 Women in Housing Leadership Awards, set to be presented this September at the 20th Annual Five Star Conference and Expo at the Hyatt Regency in Dallas, Texas.
Read More »Home Sales Down 18.7% Year-Over-Year, Hampered by Lagging Inventory
"Lack of inventory remains the biggest challenge for homebuyers," said Nick Bailey, RE/MAX President and CEO. "With the vast majority of homeowners having a mortgage rate under 5%, we're not seeing as much move-up activity as usual."
Read More »Mortgage Professionals Outline Economic Struggles in New Study
Mortgage professionals are feeling the pinch of high interest rates and a slowing housing market, and some are now living paycheck to paycheck. Click through to see how the market pinch is affecting these professionals, according to a new industry survey.
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