Effective July 31, the Texas-based bank will shut down its mortgage origination business, and shift its focus towards full-service banking and mortgage servicing options.
Read More »West Virginia and Maine Possess the Highest Homeownership Rate Nationwide
Data culled from the 2020 Census Demographic Profile and Demographic and Housing Characteristics File has found that West Virginia and Maine reported the highest homeownership rates in 2020, while the District of Columbia reported the lowest homeownership rate nationwide.
Read More »Home Affordability Takes Another Hit in April
“Homebuyer affordability eroded further in April, with both the typical borrower monthly payment and median purchase amount rising due to higher rates and home prices,” said Edward Seiler, MBA's Associate VP, Housing Economics, and Executive Director, Research Institute for Housing America.
Read More »Ongoing Financial Volatility Pushes Mortgage Rates Upward
Freddie Mac reports a week-over-week rise of 18-basis points in mortgage rates, further contributing to a sluggish and slow spring season for the national housing market.
Read More »Seller Concessions Becoming More Common, Especially in Pandemic-era Boomtowns
Sellers gave up the most in pandemic-era boomtowns, with Tampa, Florida reporting a bigger year-over-year growth in seller concessions than in any other metropolitan area.
Read More »Mortgage Rates Elevated, But Historically About Average
“Though mortgage rates are substantially higher than they have been on average over the past decade, from an historic perspective rates are about average,” Freddie Mac said.
Read More »Home Price Growth Reached 13-Year High in Spring 2022
While home prices rose nationwide in 2022, the frenzied pandemic-era housing market made price growth trends more local than they had been since 2009, according to a new report from Redfin.
Read More »Mortgage Apps Fall Nearly 5% Week-Over-Week
With mortgage rates rising to levels last seen in March, the MBA reports that overall application volume dropped 4.6% week-over-week, amid a continued lack in the nation’s housing inventory.
Read More »Rising Rates Hike Up Monthly Mortgage Payments
Rising mortgage rates are costing new 30-year, fixed-rate mortgages hundreds to tens of thousands of dollars in costs over the lifetime of a loan. Click through to find out what that means for new buyers.
Read More »The Lock-In Effect Keeping Inventory at Ultra-Low Levels
“Elevated mortgage rates are preventing would-be buyers from buying and would-be sellers from selling. And because sellers aren’t selling, the buyers who are out there have very limited options,” said Redfin Chief Economist Daryl Fairweather.
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