Affordability

Appraisal valuation gaps may persist between white and minority population tracts, but new research from the FHFA has found a reduction in that gap following actions by stakeholders and federal, state, and local agencies.

According to Zillow, metros in the Midwest and Northeast experienced the highest increases in home values nationwide, but while all major U.S. markets’ home values inched upward from June to July, nearly half remain down from last year’s levels.

The Q2 2023 TransUnion Credit Industry Insights Report reveals the latest credit trends as lenders have begun to tighten underwriting. Some 50% of Gen Zers surveyed say they plan to apply for new credit or refinance existing credit within the next year.

According to a new report from Redfin, only Western regions are experiencing a drop in asking rents, which are continuing to cool after surging nearly 20% last year.

LendingTree found that shopping around for a mortgage could help borrowers across the nation’s largest metros save an average of $84,301 over the lifetime of their loans.

“The increasing severity of natural disasters and the rising cost of construction is forcing mass-market carriers to reassess their growth strategies and put expansion on hold,” said Ben Madick, CEO and Co-Founder of Matic Insurance.

According to a new study from Real Estate Witch, 60% of surveyed Americans underestimate nationwide home prices, with only 1 in 7 knowing that the current median home price falls between $400,000 and $499,000.

National affordable housing program announces executive leadership changes, as Matt Pettit is promoted to CEO and American Mortgage Diversity Council Chair Tai Christensen is promoted to President of the company.

On one hand, buying a home and paying a mortgage means owners can build equity and leave an inheritance. However, when adding up monthly mortgage payments, home insurance, and property taxes, many renters could be left feeling like renting is not just the best option, but the only option.

“Mortgage credit availability declined to its lowest level since 2013, as lenders pulled back on underutilized loan programs and as liquidity concerns remain for some jumbo lenders,” said Joel Kan, MBA’s VP and Deputy Chief Economist. "Declining origination volumes have led to lower profitability for many lenders, resulting in narrower loan product offerings to reduce operational costs.