Volumes

A new study has found that a lack of access to credit is preventing many renters from attaining homeownership, despite renters inhabiting areas where a monthly mortgage payment is less than rent.

Redfin reports that affluent homebuyers drove luxury home sales to the highest third-quarter level on record, growing nearly three times faster than non-luxury home prices. Click through to read the full analysis.

A new analysis of National Low Income Housing Coalition data ranks the states where it takes the longest to save for a median-priced home utilizing the 50/30/20 rule—50% on needs, 30% on wants, and 20% on savings. Click through to view the rankings.

Bringing more than 20 years of experience in product development, capital markets, and the non-QM space to his new role, Brian Devlin will assume the role of Arc Home President and CEO.

A new HouseCanary report finds that housing inventory has probably peaked for the year, and the peak was the lowest recorded since the pandemic began. Is there any relief on the horizon?

While buyers contend with mortgage rates edging toward the 8% mark, Redfin reports that an increasing number of the nation’s home sellers are reducing their asking prices. Read the full data here.

"The current housing market continues to challenge homebuyers and sellers alike, but we do see signs of adjustment," said Danielle Hale, Chief Economist at Realtor.com.

A drop of just three basis points in the 30-year fixed rate mortgage provided little relief to prospective buyers, as ambiguity around monetary policy will likely continue to stall improvements in the housing market through the end of the year.

Despite the fixed-rate mortgage dipping slightly over last week, rates still linger nearly 30 basis points higher than they were a month ago. The MBA reports purchase apps have dropped to their lowest levels since 1995, and refi apps to points last found in January 2023.

Current CEO of Fair Oaks Foods is named to the Board of MGIC to share his expertise in risk management with the company.