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With inflation and mortgage rates rising to challenge the industry, MReport speaks to a cross-section of mortgage industry executives about why now is the time to rise to the occasion with innovation and efficiency.

According to a new LendingTree study, although home prices are starting to come down in many parts of the country, housing will likely remain out of reach for most buyers looking to purchase a home.

The MBA reports that credit standards are becoming more restrictive, as its Mortgage Credit Availability Index drops to its lowest level since March of 2013.

The House Financial Services Committee will host a hybrid hearing focused on poverty in the nation’s colonias, discussing their housing and community development needs and challenges in these communities.

After slight relief in mortgage rates last week, the Fed’s sixth rate hike of the year finds the housing market adjusting to rapidly tightening monetary policies, as rates returned north of the 7% mark.

The Department of Housing & Urban Development encouraged aspiring buyers to “stay ready” during the virtual event and also launched a dedicated webpage to connect people to pathways to homeownership.

As mortgage rates remain in the 7% range, app volume fell slightly this week, with the refinance share of volume hitting a low last seen in August of 2000.

As the housing market continues to rebalance, a new Zillow survey of agents reveals the top misconceptions among aspiring homebuyers and sellers.

Diminished demand in the housing market has been further dampened by erratic mortgage rates, which dipped slightly this week, as affordability issues continue to put buying significantly out of reach for many.

Mortgage rates exceeding the 7% mark have driven overall mortgage app volume down, with refi apps continuing to run more than 80% below last year’s pace.