According to HouseCanary's latest Market Pulse report, net new listing volume continues to trail behind contract volume, putting further downward pressure on housing inventory and dampening market activity nationwide.
Read More »VantageScore Credit Score Usage Climbed to Over 19 Billion in 2022
Usage by financial institutions increased by 46% year-over-year from approximately 6 billion scores used to 8.8 billion scores. Usage by banks and thrifts increased by 13.5% and usage by credit card issuers increased by over 18%.
Read More »New Bill Targets Fight Against Veteran Homelessness
Rep. Nick LaLota's HR 3186 will provide financial assistance for supportive services for very low-income veteran families in permanent housing.
Read More »Average U.S. Home Selling Above Asking Price
Redfin reports that—for the first time since August 2022—the average sale-to-list price ratio has surpassed 100%, with low inventory and steady demand driving up home prices nationwide.
Read More »Mortgage Rates Hit 2023 High Mark
“This upward trend is being driven by a resilient economy, persistent inflation, and a more hawkish tone from the Federal Reserve,” said Freddie Mac Chief Economist Sam Khater.
Read More »Purchase Apps Fall for First Time in a Month
As the fixed-rate mortgage edges closer to 7% and still over a percentage point higher year-over-year, the MBA reports that overall mortgage application volume fell to its lowest level in a month.
Read More »Embracing E-Mortgages
On the road to adopting an all-digital mortgage process, the Five Star Institute and DocMagic will present an upcoming webinar discussing the hurdles that must be overcome, and how to balance the human touch in an electronic landscape.
Read More »Using Mortgage Reserves to Help Narrow the Black-White Homeownership Gap
New research from FHLBank San Francisco and the Urban Institute investigates ways to reduce mortgage default risk by utilizing mortgage reserve accounts that could help homeowners overcome temporary hardships, which would mainly benefit Black families, who are more than twice as likely as white families to lose their home to foreclosure.
Read More »Surging Rates Fuel Increase in Adjustable-Rate Mortgage Activity
Among mortgage originations exceeding $1 million in April 2023, adjustable-rate mortgages comprised nearly 50% of the dollar volume, representing a six percentage-point increase from a year earlier.
Read More »Fleeing the West to Flock to the East
A new study from Veros has found that markets in the Western U.S., once popular destinations, are displaying signs of weakness, with regions in the Midwest and Eastern part of the nation emerging as targets for buyers seeking affordability and economic stability.
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