Mortgage rates exceeding the 7% mark have driven overall mortgage app volume down, with refi apps continuing to run more than 80% below last year’s pace.
Read More »Fannie Mae: Home Prices, Rents May Stabilize in 2023
While Fannie Mae experts predict prices to moderate in 2023, they note that housing supply issues will persist as inventory remains scarce, with effects felt mostly by low- and moderate-income families. Here are the latest findings.
Read More »Southeastern States Posted Significant Price Gains in September
”The rapid increase in prices during the COVID-19 pandemic caused many U.S. housing markets to reach completely unaffordable levels for potential local homebuyers,” said Selma Hepp CoreLogic’s Interim Lead, Deputy Chief Economist.
Read More »More Homeowners Report the Intent to Move Between Metros
“With a recession looming and household expenses high, many people can’t afford to buy a home in an expensive area and/or want to save money in case of an emergency, which makes relocating somewhere more affordable an attractive option,” said Redfin Economics Research Lead Chen Zhao.
Read More »Fannie Mae: Lenders Share Pain Points Amid Economic Headwinds
“Surveyed lenders cited personnel expenses as the primary factors driving up loan origination costs over the past two years,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.
Read More »Mobile Home Values Neck-and-Neck with Single-Family Homes
A new study from LendingTree found that mobile homes are much less expensive than single-family homes, offering homebuyers a cheaper alternative in purchasing. However, data revealed that mobile homes appreciated in value almost as quickly as single-family homes nationwide from 2016 to 2021.
Read More »Pending Home Sales Drop for Fourth Consecutive Month
The latest analysis from the National Association of Realtors revealed pending home sales slipped in September, down 10.2% from August, decreasing in all regions compared to 2021.
Read More »Housing Migration’s Effect on Polling Data
Early in the pandemic, many made the decision to leave urban centers in favor of the suburbs and beyond. But according to Redfin, those who moved took not only their belongings but also their voting preferences too, turning some counties from red or blue to purple.
Read More »Average Down Payments on Homes Rise Nationwide
According to a new LendingTree study, the average down payment on homes across the 50 largest U.S. metros analyzed has now topped $62,000, an overall 35% increase compared to 2021.
Read More »Mortgage Rates Eclipse 7%
For the first time since April 2022, mortgage rates have surpassed the 7% mark, with many potential buyers now waiting to see where the market is headed, thus pushing home prices further downward.
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