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Redfin reports that housing market activity is plunging further this fall than it did over the summer, with increased concern over 20-year high mortgage rates compounded by a volatile U.S. economy.

Fitch Ratings expects that most issuers should be able to withstand current market conditions and potentially gain market share through scalable technology platforms, diversification, balance sheet strength, and access to liquid capital, all of which should afford them the flexibility to mitigate operational losses.

"First-time buyers now appear to be making relative gains as high mortgage interest rates disproportionately encourage current homeowners to stay put," said Manny Garcia, Zillow Population Scientist.

After more than a year of double-digit yearly rent gains, the U.S. median rental price in September posted its smallest year-over-year increase since last summer, further declining from its peak in July 2022.

After a slight break last week, Freddie Mac reports the fixed-rate mortgage inched closer toward the 7% mark, as recessionary concerns and housing affordability continue to drive down housing demand.

Amid inflated mortgage rates and a nationwide housing affordability crisis, the "American Dream" may seem far-fetched for many. The latest analysis from RentCafe showed that renting is at the highest level in half a century, with nearly 44 million households currently living in rentals.

Over the last few weeks, markets have increasingly—and perhaps reluctantly—reflected the resolve of the Fed to lower inflation via rapid tightening of monetary policy," said Doug Duncan, Fannie Mae SVP and Chief Economist.

The latest data from NRMLA/RiskSpan finds U.S. homeowners 62 and older experiencing housing wealth growth of 4.10% or $456 billion in the second quarter of 2022, marking a new all-time high.

As fixed-rate mortgages continue to edge toward 7%, the MBA reports refinance volume has dropped off nearly 90% from last year’s totals, as both refinancing and home purchase apps declined and fell further behind last year’s record levels.

A new report required by law under the Helping Families Save Their Homes Act of 2009, a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act, showed that the majority of loans are current, and foreclosures remain below levels recorded before the pandemic.