Origination

S&P CoreLogic Case Shiller reports that despite a 20.4% annual gain in April 2022, home prices in the U.S. were down slightly from 20.6% recorded the previous month.

Per a new Urban Institute report, local governments and organizations, both public and private, should consider homelessness as a systemic issue, which can be solved with a multi-layered approach.

Don Layton, former CEO of Freddie Mac and current Senior Industry Pellow at the Joint Center for Housing Studies, lays out four benchmarks against which to grade the GSEs as their plans are implemented.

Sales of new single‐family homes in May rose to 696,000, a 10.7% month-over-month rise of April’s recorded total of 629,000.

“The ongoing affordability hit of higher home prices and fast-rising mortgage rates led to a slowdown in purchase applications in May,” said Edward Seiler, the MBA's Associate VP.

After a few weeks of decline, Freddie Mac reports mortgage rates hit a mark last seen in November 2008, having increased by more than two full percentage points since the beginning of 2022.

While existing-home sales fell 3.4% in May, median sale prices exceeded $400,000 for the first time, representing a nearly 15% increase from 2021.

More homeseekers are buying their homes sight-unseen, with current market conditions leaving buyers with few other options.

The MBA reports that purchase activity was down 10% year-over-year, as inventory shortages and higher mortgage rates are dampening demand.

As June recognizes National Homeownership Month, Chris Garagusi of Enact details ways that lenders can help borrowers find their way in a challenging and confusing housing market.