Data

According to Zillow, a majority of homeowners put more time into shopping for a new vehicle than they did looking for a mortgage lender. Click through to find out what that means.

“Home sales are projected to hit a trough in Q2 2023, at a selling pace of 4.27 million annualized units, as the full effect of higher mortgage rates and the projected recession take hold,” according to a new Fannie Mae forecast.

Some 30% of borrowers do not rate shop when applying for a mortgage. Click through to see what that means.

“The historic drop in mortgage rates is a tick in the ‘good news’ box for the housing market, as lower rates deliver an immediate win for prospective buyers’ pocketbooks,” said Taylor Marr, Redfin’s Deputy Chief Economist.

A new Zillow analysis found that sellers looking to slash prices are doing so on a Thursday, with price cuts on average nearly 3% of the listing price, or $11,000 off the price of a typical U.S. home.

Michele M. Evans of Fannie Mae discusses the GSE’s new Positive Rent Payment Reporting pilot program and how renters on the path to homeownership can build their credit history and improve their credit score.

NAR reports that existing-home sales nationwide faded for the ninth straight month to a seasonally adjusted annual rate of 4.43 million.

With news that inflation may have peaked, Freddie Mac reports that the fixed-rate mortgage fell below the 7% mark, leading to a slight rise in overall mortgage app volume for the week.

New report discusses the GSE’s guarantee fees charged in 2021, and provides a four-year perspective with data dating back to 2018.

The MBA reports that mortgage rates exceeding the 7% mark and declining purchasing power leading are contributing to fewer new applications nationwide.