The average down payment now takes nearly 7.5 years to save up, and the effect that stat is having on the market is adding to the number of cost-burdened Americans nationwide.
Read More »High Interest Rates Hindering Homebuyer Mobility
While the combination of high home prices and interest rates continues to price many potential buyers out of the market, homebuyer mobility has stalled as a result as well. Riordan Frost, Senior Research Analyst for the Joint Center for Housing Studies, reveals the latest predictions surrounding homeowner mobility and what it would take to recover.
Read More »Purchase Mortgage Apps Jumped in November
First American's latest Potential Home Sales Model revealed mortgage rates declined in November, "igniting cautious optimism in the industry.”
Read More »To Rent or Buy: The State of Renter Sentiment
Knightvest has released their latest Multifamily Renter Sentiment Report, examining where modern Americans are falling on the "rent-versus-buy" question and how different generations feel about renting in today's market.
Read More »Pending Home Sales Soar to Highest Levels in a Year
According to a new market report from Redfin, in November, pending sales climbed to their highest level since 2022, while new listings rose, representing the first sign of growth in a year and a half.
Read More »U.S Mortgage Payments Drop to Lowest Level in Eight Months
The median U.S. housing payment is down from October’s record high, as new listings increase and mortgage-purchase applications are up nearly 20% from their November low, according to a new housing report from Realtor.com
Read More »Price Declines Offering Renters Some Relief
U.S. rent prices fell for the seventh consecutive month in November, according to a new Realtor.com report, as rental supply outpaced elevated demand in the West and South. However, Northeastern renters continued to struggle with higher costs.
Read More »Down Payment Assistance Under the Microscope
Miki Adams, President of CBC Mortgage Agency, discusses how the performance on FHA-insured loans is impacted when down payment assistance is utilized.
Read More »What 2024 Holds for the Housing Market
"Metro markets in southern states will likely outperform others due to faster job increases, while markets in the Midwest will experience gains from being in the most affordable region,” said Lawrence Yun, the NAR’s Chief Economist.
Read More »Mortgage Credit Availability Declines as Lending Standards Tighten
“Credit availability in November declined to its lowest level in four months, driven by reduced offerings of non-QM and jumbo loan programs,” said Joel Kan, MBA’s VP and Deputy Chief Economist. “The conforming and government indices were unchanged over the month but remained close to multi-year lows.”
Read More »