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New Listings Down More Than 20% YoY

“High mortgage rates have caused some homebuyers to bow out of the market. But there are still more people looking for a home than there are homes for sale,” said Redfin Deputy Chief Economist Taylor Marr. “That’s good news for the homeowners who want or need to sell their home now."

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Q4 Senior Home Equity Levels Dip to $12.39T Nationwide

According to a new report from National Reverse Mortgage Lenders Association, the slight drop in the NRMLA/RiskSpan Reverse Mortgage Market Index was driven by a modest decline in senior home equity from a peak of $12.42 trillion in Q3 2022 to $12.39 trillion in Q4 2022.

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Mortgage Rates Rise for Second Straight Week

After a five-week string of declining rates, mortgage rates rose modestly for the second consecutive week, on the eve of the GSE’s enacting changes to loan-level price adjustments geared toward tackling housing affordability challenges nationwide.

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Mortgage App Payments Inched Upward in March

Mortgage application payments increased 1.6% to $2,093 in March, according to the MBA’s Purchase Applications Payment Index, as many prospective homebuyers continue to delay their decisions to enter the market amid elevated home prices and low inventory.

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