News

Due to persistently high home prices, new homebuyers may shell out costly amounts for their mortgage payments, as a new study from LendingTree reveals that the average nationwide payment on a new mortgage has reached $2,317 a month.

“The increase in down payment assistance for several consecutive quarters represents growing opportunities for homebuyers that have been traditionally underserved,” said DPR Founder and CEO Rob Chrane.

“Our government invited us and others to step up, and we did,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase.

“High mortgage rates have caused some homebuyers to bow out of the market. But there are still more people looking for a home than there are homes for sale,” said Redfin Deputy Chief Economist Taylor Marr. “That’s good news for the homeowners who want or need to sell their home now."

New proposed rule by the Bureau would guard against unscrupulous practices and prevent unnecessary mortgage foreclosures for Property Assessed Clean Energy (PACE) loans.

Rachel Richardson of Rent. examines several major market trends that impact a property’s day-to-day operations, and what to do about them. 

“Falling incomes and rising rents during the pandemic eroded affordability once again, leaving renter households with less residual income,” the JCHS said.

As interest rates remain high, a new study from Zillow has found that 15% more borrowers purchased mortgage points in 2022 than 2021, and continue to do so as interest rates hover around 6%.

According to a new report from National Reverse Mortgage Lenders Association, the slight drop in the NRMLA/RiskSpan Reverse Mortgage Market Index was driven by a modest decline in senior home equity from a peak of $12.42 trillion in Q3 2022 to $12.39 trillion in Q4 2022.

According to a new report from Redfin, house hunters moving to a new area make up a bigger piece of the homebuying pie than ever, as record 25.1% of home searchers looked to relocate to a new metro in Q1.