Affordability

The MBA reports a near 9% week-over-week slide in mortgage applications, as cautious buyers proceed through the spring season amid continued affordability challenges and limited supply.

A new report from Zillow has found that younger generations still believe owning a home is part of the American dream but believe they might need to win the lottery in order to achieve that dream.

"As expected, the annual rate of increase in home prices has slowed dramatically in response to the rapid and significant increase in interest rates," said Doug Duncan, SVP and Chief Economist at Fannie Mae.

With more than 19 million voucher-eligible households in 2021 but fewer than two million vouchers available across the country's metro areas, Zillow notes that the program needs to be improved and better funded to help more of those in need.

According to a new report from the National Association of Realtors, middle-income homeowners gained more than $120,000 in wealth over the past decade, as homeowners who benefited from home price appreciation were able to drop their debt by 21%.

According to the National Association of Home Builders, builder confidence increased due to a lack of resale inventory despite inflated interest rates, as new construction continues across the market.

Both home sellers and homebuyers continue to struggle to navigate the market, with a new seller survey from Realtor.com revealing that home prices are up 7.8% from last year.

Although women make up a higher share of college graduates, single female household heads still have substantially lower incomes and are more likely to raise children than single male household heads.

A new analysis of rent data from Redfin has found that the median asking rent fell 0.4% in March to the lowest level in 13 months, marking the first annual decline since the coronavirus was declared a pandemic.

In recognition of Fair Housing Month, KeyBank is further committing to helping potential homebuyers make their dream of owning a home a reality by expanding its Special Purpose Credit Programs for qualifying properties in eligible communities.