News

While Americans nationwide continue to struggle with home affordability, many feel they're at least 3-4 years away from homeownership, while 56% believe they can't obtain a mortgage at all, according to a new survey from Divvy Homes.

Rep. Nick LaLota's HR 3186 will provide financial assistance for supportive services for very low-income veteran families in permanent housing.

“Confidence in the housing market appears to have plateaued at a relatively low level, suggesting that many consumers may be coming to terms with elevated mortgage rates and high home prices,” said Doug Duncan, Fannie Mae SVP and Chief Economist.

In his new role overseeing First American’s corporate product development team, accomplished tech leader will lead enterprise product development, enhancing products serving customers across multiple divisions.

As renters continue to outpace homebuyers across the U.S., Miami is reemerging as the nation’s most competitive rental market. But pent-up demand remains an issue, driving the occupancy rate up to an estimated 97.1%, according to a new report from RentCafe.

Redfin reports that—for the first time since August 2022—the average sale-to-list price ratio has surpassed 100%, with low inventory and steady demand driving up home prices nationwide.

“This upward trend is being driven by a resilient economy, persistent inflation, and a more hawkish tone from the Federal Reserve,” said Freddie Mac Chief Economist Sam Khater.

As the fixed-rate mortgage edges closer to 7% and still over a percentage point higher year-over-year, the MBA reports that overall mortgage application volume fell to its lowest level in a month.

On the road to adopting an all-digital mortgage process, the Five Star Institute and DocMagic will present an upcoming webinar discussing the hurdles that must be overcome, and how to balance the human touch in an electronic landscape.

New research from FHLBank San Francisco and the Urban Institute investigates ways to reduce mortgage default risk by utilizing mortgage reserve accounts that could help homeowners overcome temporary hardships, which would mainly benefit Black families, who are more than twice as likely as white families to lose their home to foreclosure.