A new LendingTree analysis of the 2020 Home Mortgage Disclosure Act found that the share of Black homebuyers who have their mortgage requests denied is notably higher than any other ethnicity. Click here to see the largest spread between mortgage denial rates for Black borrowers and the remainder of the borrower populace.
Read More »Pending Home Sales Fall 19% YoY
For buyers, the early 2022 rush to lock in low mortgage rates before they rose even higher has since been replaced by the reality that sub-3% rates are a thing of the past,” said George Ratiu, Senior Economist & Manager of Economic Research for Realtor.com.
Read More »National Rents Remain at Historic Highs Across Suburbs, Urban Areas
Rent is growing faster in urban areas than in suburbia, reflecting a reversal of the earlier pandemic-induced trend. Reports indicate a shift toward a more sustainable balance of rental supply and demand, while national rents reached a new high for the 17th month in a row in July.
Read More »Report: First-Time Homebuyer Activity Shows ‘Signs of Life’
Despite overall mortgage application volume dipping 1.2% week-over-week, the MBA reports government mortgage apps rose 4% over last week, as a slight decline in rates may be enticing to first-time buyers.
Read More »Homebuyers Find More Housing Options as Market Creeps Back to ‘Normal’
Rising inventory is now being driven by homes lingering on the market and new listings trailing pre-pandemic levels. Rent appreciation is also slowing, but the growth rate overall remains much higher than pre-pandemic levels.
Read More »Affordability Constraints Fueling Renovation Projects
While more housing inventory is becoming available, home prices and mortgage rates hikes are still limiting many homebuyers from purchasing. A new study reveals that 55% of homeowners reported renovating in the past year rather than continuing their new home search.
Read More »Homebuyer Demand Slows; Properties Remaining on Market Longer
“The buyers who are still in the game are finally getting a break from bidding wars, which means they can be picky,” said Raleigh, North Carolina Redfin Agent Pam Lewis.
Read More »Bringing Down Payment Assistance Education to a New Generation
While a multitude of downpayment assistance options are available to buyers, most are not aware these options exist, as Rob Chrane of Down Payment Resource explains how proper education can bring these programs to the forefront as a viable option to today’s home buyers.
Read More »Median Asking Rent Up 14% YoY in July
According to a new Redfin report, the national median asking rent for July was up 14% year-over-year (and 0.6% month-over-month) to an average of $2,032 per month. This ...
Read More »Weak Growth Will Continue as Housing Slows
Despite mortgage rates pulling back over the past month, numbers are down 59 basis points from the recent peak of 5.22% according to the latest Fannie Mae survey, they continue to anticipate a slowdown in home sales activity.
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