Data

According to Realtor.com's August 2023 Rental Report, buying a starter home in the top 50 metros cost approximately 60.3% more than renting, while median U.S. rents experienced their fourth consecutive month of year-over-year declines.

According to Dana Anderson, a Data Journalist for Redfin, median sales prices occurred in eight of the top 50 metropolitan markets, while pending sales fell in all 50 markets at an average rate of 13%.

"Home sales have been stable for several months, neither rising nor falling in any meaningful way," said NAR Chief Economist Lawrence Yun.

Mortgage rates gained just one basis point week-over-week according to Freddie Mac, marking the sixth consecutive week that the 30-year rate exceeded the 7% mark, pushing down home builder sentiment nationwide.

Five Star’s annual Single-Family Rental & Investment Roundtable on Tuesday united investors, service providers, and experts to discuss how volatile factors such as inflation, escalating interest rates, and affordability concerns impact the ongoing growth and investment opportunities within the single-family rental market.

The Committee will continue to assess additional information and its implications for monetary policy at future meetings with an inflationary goal of 2%.

Despite mortgage rates hitting the highest levels seen in a month, the MBA reports a week-over-week rise in overall mortgage application volume, led by renewed interest in FHA and conventional purchase apps.

Kim Yowell of Fairway Independent Mortgage was honored at the Keys for Life Gala in Dallas during the Five Star Conference for her contributions to the mortgage marketplace.

The Five Star Lending Forum hosted a keynote from Freedom Mortgage CEO Stanley Middleman, as well as an in-depth panel discussion with representatives of Churchill Mortgage Corporation, Fannie Mae, Freddie Mac, Guild Mortgage, Chase, and Xome about how the industry can support the American Dream of homeownership.

The semi-annual Legal League Fall Servicer Summit was held as part of the Five Star Conference & Expo in Dallas, as the industry's foremost experts discussed the latest compliance issues facing the industry.