“In recent years, housing inventory constraints and home-price appreciation have resulted in rising average loan balances for single-family homeownership. Yet, financing lower balance loans is an essential way for the mortgage industry to facilitate access to affordable, lower-valued homes,” said MBA’s VP of Industry Analysis Marina Walsh, CMB.
Read More »August Home Prices Appreciated at a Rate That Beat 25-Year Averages
"After essentially flattening earlier this year, year-over-year home price growth has been reaccelerating for the last few months," said Andy Walden, ICE VP of Enterprise Research.
Read More »HUD Dedicates $10M to Safety and Security in Public Housing
New Departmental grants will support crime prevention, the installation of carbon monoxide and smoke detectors, and fire alarms in 56 communities, enhancing safety and security for public housing residents.
Read More »Pending Home Sales Fall 7% in August
NAR reports that pending home sales dropped in all four U.S. regions month-over-month and compared to one year ago, as mortgage rates above 7% continue to impact homebuying.
Read More »HUD Clarifies Civil Rights Protections Against Housing Discrimination
As part of the Biden Administration’s strategy to counter antisemitism, HUD’s Office of Fair Housing and Equal Opportunity has joined seven other federal agencies to issue fact sheets on Title VI protections.
Read More »Mortgage Rates Climb to 23-Year High Point
Freddie Mac reports that mortgage rates reached levels last seen in December 2000, as the 30-year fixed-rate mortgage rose 12 basis points week-over-week and low supply continues to create affordability challenges for prospective buyers.
Read More »CFPB: Rate Environment Dictated the Mortgage Market in 2022
In its annual report on residential mortgage lending activity and trends, the Bureau found that mortgage lending fell in 2022 amid a significant rise in interest rates and discount points.
Read More »Senior Home Equity Rose to $12.7 Trillion in Q2
According to NRMLA, senior home equity rebounded in the second quarter of 2023, as housing wealth for U.S. homeowners aged 62 years and older rose by $820 billion in Q2.
Read More »Purchase Mortgage Apps Down 27% YoY
As mortgage rates advanced upward to levels last seen 20 years ago, the MBA reports overall application volume slipping yet again after a quick one-week rebound.
Read More »New Residential Sales Slow in August
Month-over-month, HUD and the Census Bureau reported an 8.7% drop-off in new home sales in August, with sales impeded by mortgage rates over the 7% mark.
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