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Elevated mortgage rates continue to accentuate affordability concerns, keeping many prospective buyers out of the market. Meanwhile, the MBA reports application volume slid to close out 2022.

First American reports that between September 2022 and October 2022, rose nearly 9% month-over-month, with the rapid annual decline in affordability driven by a 12% annual increase in nominal house prices.

CoreLogic reports that home price appreciation year-over-year was up for the 130th consecutive month in November, but growth dropped to single digits at just 8.6%.

Mortgage rates trended upward to close out the year, as Freddie Mac’s Chief Economist forecasts the housing will remain weak throughout the winter.

Marking a shift from 2021's leaders from the West Coast, a new Zillow study of the nation’s most searched markets found the town of Prairie Village at the top of its popularity rankings with site-leading page views of for-sale listings per day.

Freddie Mac reports the fixed-rate mortgage sliding for the sixth straight week, with the downward trend in rates resulting in a rise in refis, offsetting a week-over-week decrease in purchase activity.

According to a new report from the Mortgage Bankers Association, mortgage payments have increased by 42.9% in the first eleven months of the year.

“Today’s affluent homebuyers are motivated to pay in cash because the surge in mortgage rates makes them want to avoid loans—and the high monthly interest payments that come with them—altogether,” said Redfin Economics Research Lead Chen Zhao.

Under HR 7735, servicemembers, veterans, and their families will have increased access to more affordable, sustainable homeownership opportunities through the Department of Veterans Affairs.

According to new MBA Builder Application Survey data for November 2022, findings show mortgage applications for new home purchases decreased an estimated 25% compared to a year ago.