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The Best U.S. Cities for Raising a Family in 2023

A new study from WalletHub revealed which cities throughout the nation are ranked the best and worst places to raise a family, with half of the top 10 best areas located in California, while Midwestern cities like Detroit and Cleveland came in last.

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Mortgage Apps Rise Slightly Week-Over-Week

While mortgage rates fell for a third consecutive week, limited supply and continued affordability issues are handcuffing prospective buyers, as overall mortgage activity rose just 0.5% over last week’s total.

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May’s Housing Starts Rise Above Expectations

“U.S. housing starts in May came in above consensus expectations at a seasonally adjusted annual rate of 1.63 million, which is 21.7% above the revised April estimate of 1.34 million and 5.7% above the May 2022 rate of 1.54 million,” said First American Economist Ksenia Potapov.

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Home Purchase Mortgage Apps Increased Nearly 17% in May

“Applications for purchase loans were up on a monthly basis and increased annually for the fourth consecutive month," said Joel Kan, MBA’s VP and Deputy Chief Economist. "Our estimate of new home sales also jumped in May, up 16% to the fastest pace of new home sales in 15 months.”

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David Smith Appointed Head of Truist Mortgage

A veteran of two decades in the industry, David Smith is promoted to new role with Truist, leading strategy and execution for all areas of mortgage including originations, fulfillment, nationwide direct channels, correspondent, warehouse lending, and servicing.

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