Volumes

1.54 million residential mortgages were issued in the third quarter. A new report lays out the numbers, including how far the market has dropped year-over-year.

“Today’s data signal that home sales activity is likely to remain steady, at a low level, over the next few months as limited options and significant affordability challenges weigh on buyers,” said Realtor.com Senior Economic Research Analyst Hannah Jones.

The MBA reports that the average national median mortgage payment rose to $2,199 in October, a $143 year-over-year rise. Here are the factors that were “dissuading would-be buyers from entering the housing market.”

Keeping pace with the rise in median housing prices nationwide year-over-year, the Housing and Economic Recovery Act requires the FHFA to adjust the GSEs’ baseline CLL value annually.

A new study reveals the top 10 most affordable states where mortgage holders spend below 25% of their monthly income on their mortgage payments.

"The economy is now slowing from the otherwise robust first estimate of third quarter growth," said Doug Duncan, Fannie Mae SVP and Chief Economist.

Homebuyers nationwide are finding some relief entering the Thanksgiving holiday, as mortgage rates have fallen to levels last reported in late-September, garnering interest from buyers and driving up overall app volume to levels not seen in over a month.

"Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation," said NAR Chief Economist Lawrence Yun.

As Souren Sarkar of Nexval describes, building a culture of innovation that supports the adoption of disruptive technologies can be like unlocking a hidden treasure.

It’s a chicken-or-egg situation for homebuyers and sellers. Demand is rising partly due to an uptick in new listings, and listings are increasing partly because sellers are noticing more buyers enter the market.