News

The MBA reports that mortgage credit availability fell for the third straight month in May, dropping to levels last recorded in January 2013.

Overall rate lock volumes rose 14% in May from the prior month, but that number is still down 38% year-over-year and 29% compared to pre-pandemic numbers.

“Given the consistency of our survey results, we expect consumers' longstanding and highly favorable attitude toward homeownership as an investment option will continue to persist, even in the face of possible recession,” Fannie Mae authors concluded.

The latest “Preparing to Sell” report from Curbio revealed that 43% of home sellers don't think they need to update their house before listing, but new data found that homebuyers want move-in-ready homes. Click through to read what else the study found.

According to Zillow's May 2023 Market Report, newly pending listings are up nearly 10% from April, as homebuying competition is driving home prices up and housing inventory down to record lows for this time of year.

Mortgage lenders are moving quickly to adopt digital closings, but Aaron Davis of AMD Enterprises and Florida Agency Network explains the challenge of determining an optimal partner.

The U.S. Department of Housing and Urban Development launched a new homeless initiative which will partner with local communities, service providers, and directly affected young people to address barriers to housing and shelter access for LGBTQI+ youth.

"Middle-income buyers face the largest shortage of homes among all income groups, making it even harder for them to build wealth through homeownership," said Nadia Evangelou, NAR Senior Economist and Director of Real Estate Research.

Rather than viewing the reverse mortgage lending business as a completely new line of business, lenders today are looking at reverse mortgages as another loan product to add to their menu of offerings.

According to a new report from Redfin, asking rents fell just 2% in the West but rose 5% in the Northeast and Midwest as supply increased and rents began to cool nationwide.