News

The Senate Banking Committee on Housing, Transportation, and Community Development is set to host a hearing assessing the government’s efforts to improve housing efforts among Native American communities nationwide.

Nearly 1 in 4 homeowners can’t cover a $1,000 home repair emergency in 2023, according to a new survey from All Star Home, leaving many homeowners turning to social media for hacks to try and tackle the issues themselves.

“While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers,” said Freddie Mac Chief Economist Sam Khater.

CoreLogic’s Chief Economist Selma Hepp said, “While homeowners in some areas of the country who bought a property last spring have no equity as a result of price losses, forecasted home price appreciation over the next year should help many borrowers regain some of that lost equity.”

In our June MortgagePoint cover story, experts discuss the importance of D&I strategies in the workforce, in business, and throughout the mortgage industry, highlighting the strategies utilized to promote equity in the U.S. housing system for renters and homeowners nationwide.

Despite the early-June underperformance, Redfin reports that home-tour numbers indicate pent-up demand that should translate into improved sales once mortgage rates drop.

“Consumers also indicated that they don’t expect these affordability constraints to improve in the near future, with significant majorities thinking that both home prices and mortgage rates will either increase or remain the same over the next year,” said Mark Palim, Fannie Mae’s VP and Deputy Chief Economist.

According to Chase’s latest First-Time Homebuyer Study, new data revealed that confidence levels remain high among buyers, with 44% of respondents indicating they are confident they’ll be financially ready to purchase in the coming year.

According to a new report from Redfin, some 33.4% of U.S. home purchases in April were made in cash, marking the highest share of all-cash home sales since 2014.

Mortgage application volume fell has fallen for a month straight, with purchase activity constrained by rates nearing the 7% mark and a lack of for-sale inventory.