News

The MBA reports an uptick in overall mortgage application volume week-over-week, led by a 4% rise in home purchase applications, despite an 88% year-over-year drop-off in refinance activity.

“Demand for rentals is slowing because economic uncertainty is prompting many renters to stay put, and persistent inflation is shrinking renter budgets. That’s causing rent growth to cool,” said Taylor Marr, Redfin’s Deputy Chief Economist.

In a letter to HUD Secretary Marcia L. Fudge, the Chair of the Housing Financial Services Committee said the supply of the nation’s affordable housing should be a top priority.

With inflation and mortgage rates rising to challenge the industry, MReport speaks to a cross-section of mortgage industry executives about why now is the time to rise to the occasion with innovation and efficiency.

“I’m so proud of FHA’s work to make homeownership possible for our nation’s underserved households and communities,” said Federal Housing Commissioner Julia R. Gordon.

According to a new LendingTree study, although home prices are starting to come down in many parts of the country, housing will likely remain out of reach for most buyers looking to purchase a home.

A new Redfin analysis revealed homebuyers nationwide must earn even more money than they did a year ago in order to purchase a typical U.S. home.

The MBA reports that credit standards are becoming more restrictive, as its Mortgage Credit Availability Index drops to its lowest level since March of 2013.

Nearly 60% of all Opportunity Zones performed better than the national market according to ATTOM's Q3 2022 report, while values are up an estimated 15% year-over-year in nearly half of the zones analyzed.

"With interest rates now at their highest level in 20 years, the refi market is rapidly approaching a bottom," said Scott Happ, President of Optimal Blue, a division of Black Knight.