Migration

The U.S. Department of Housing and Urban Development has announced it has awarded $10 million in Rural Capacity Building grants, along with $12.5 million in grants through the Self-Help Homeownership Opportunity Program, to help expand affordable housing and homeownership nationwide.

“In the current market, the entire industry is focused on reducing costs,” said Aaron King, Founder and CEO of Snapdocs. “Our research confirms what a growing number of lenders already know—eClosing is critical to any mortgage strategy to remain competitive and improve margins."

An upcoming Five Star Institute Webinar will delve into the landscape of the mortgage industry over the next 12 months, including a possible rise in home equity loans, a decrease in savings, increased credit card usage, and overall consumer weariness, among other topics.

Although a national debt default is unlikely, new scenario projections from Zillow reveal home sales would decrease sharply. While home values would not lose much ground, a surge in mortgage rates would do further damage to nationwide housing affordability.

According to the 2023 ServiceLink State of Homebuying Report, there is still a strong desire across several generations to achieve the goal of homeownership. Approximately 52% of respondents said they still plan to consider buying a home despite challenging market conditions.

Home values are up 1% from March to April, with a new report from Zillow revealing the market sits firmly in sellers' favor as rising demand continues to meet low supply.

According to HouseCanary's latest National Rental Report, demand for rentals is outpacing the increase in inventory, resulting in an increase in median listing prices and days on the market.

According to Bank of America’s 2023 Homebuyer Insights Report, prospective homebuyers said they feel more confident in their ability to purchase a home today, while 55% of respondents believe the market is more competitive than last year.

As the nationwide homeownership rate sits at nearly 70%, a new study from PropertyShark revealed which economic factors continue to impact U.S. rates. Percentages in coastal and southern states have seen a sharper decline compared to states like New York or California.

MortgagePoint examines the impact of the recent bank failures on the mortgage space, with a cross-section of experts imparting their perspectives on how to avoid similar issues in the future.