Origination

Homebuyer affordability plummeted again in September according to the latest MBA analysis, with scarce supply, affordability constraints, and economic uncertainty continuing to hinder potential homebuyers.

With fixed-rate mortgages up nearly 195 basis points since mid-summer lows, new single-family homes tumbled in September, with more homeowners opting to remain in their current homes amid the erratic rate environment.

"After a sustained period of quick sales that kept the housing cupboard relatively bare, a supply of two months presents a lot more options for homebuyers," said Nick Bailey, RE/MAX President and CEO.

Having slowed from recent peaks, house price appreciation in all top 50 markets analyzed in the latest study from First American revealed the housing market is adjusting to the decline in affordability as the hot pandemic sellers’ market transitions in favor of homebuyers.

Todd Rasmussen, President and COO of Equity Valuation Partners, discusses how lenders and financial institutions can sometimes perform their own valuations of home loans on their books.

As mortgage rates rose for the 10th straight week, hitting a 21-year high, housing demand continues to tail off, with the MBA reporting overall app volume falling nearly 2% week-over-week.

The S&P CoreLogic Case-Shiller National Home Price NSA Index for August 2022 reported home price gains continued to slip, as inflation hit a four-decade high, resulting in less money in the pockets of Americans and diminished budgets.

Twenty-seven-year veteran promoted to new role, managing a national sales team of regional sales managers and account executives nationwide.

While rent growth begins to decelerate, the latest study from Yardi Matrix found that many universities nationwide are experiencing exceptional growth, as nearly 200 universities with four or more properties analyzed recorded double-digit annual rent growth as of September.

The most recent outlook from the Mortgage Bankers Association expects total origination volume to decline nearly 10% next year. Click through to find what else the MBA is forecasting.