Even the most affordable metro areas analyzed in NerdWallet's latest Q2 housing activity report experienced price increases that decreased overall affordability, as rising home prices and high interest rates continue to make the homebuying process even more difficult for potential first-time buyers.
Read More »As Mortgage Rates Reach New Highs, Consumer Sentiment Shifts
“Mortgage rates once again breached the 7% mark in August, hitting a 22-year high and doing no favors for consumer sentiment,” said Doug Duncan, Fannie Mae SVP and Chief Economist.
Read More »Mortgage Rates Top 7% for Fourth Straight Week
“The housing market appears to be stuck heading into autumn, with sales activity likely to stay stagnant until housing inventory increases, and mortgage rates decline to more affordable levels,” said MBA President and CEO Bob Broeksmit. Click through to read more on this week's mortgage rates.
Read More »Rising Home Prices Fueled by Ongoing Supply Shortage
Redfin's latest housing market update showed that the total share of homes on the market is down nearly 18% year-over-year, representing the biggest decline since February 2022. A significant lack of homes for sale caused home prices to rise nearly 5% annually, as mortgage-purchase applications remain at their lowest level in nearly three decades.
Read More »Average New Mortgage Payments up 60% in Last Two Years
"The average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306, and that's before taxes and insurance are factored in." said Black Knight VP of Enterprise Research Andy Walden.
Read More »QC Ally Appoints Jeffrey Flory as Its New CEO
Thirty-year industry veteran joins enterprise loan quality and audit services provider to help drive QC Ally’s core pillars of partnership, excellence, and quality.
Read More »San Francisco Homeowners Most Likely to Lose Money When Selling
Due to a plunge in home prices in the popular Bay Area metro, San Francisco homeowners were most likely to lose money when selling their home. According to a new Redfin report, the typical San Franciscan seller who took a loss sold their home for $100,000 less than they bought it for.
Read More »Overall Mortgage App Volume Falls to 27-Year Low
Despite a slight dip in mortgage rates, the MBA reports that mortgage application volume has fallen to lows last reported in December 1996, as rates and housing inventory continue to serve as major barriers to entry into the housing market.
Read More »Julie Signorille-Browne Promoted to Senior EVP and COO of NYCB
Former EVP and COO of the consumer bank at Citizens Financial Group brings 30-plus years of experience to her new role overseeing the conversions of both Flagstar and Signature Bank under the NYCB umbrella.
Read More »Examining Aging Homes Across the U.S.
A new study from All Star Home found more than 1 in 5 homeowners regret purchasing/owning an older home, having spent an average of $10,700 on repairs over the last five years.
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