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Potential buyers could be taking a temporary step back from the housing market as the volume of mortgage applications declines even though fixed and adjustable rates continue to fall. Yet, even taking into account the current decline, mortgage rates remain higher than they were a year ago. The average loan size for applications that have been pushed through has also reached a new high.

High down payments and the amount of time required to save for these payments are among the reasons for millennials not quite settling yet. Millennials lifestyles change over time, and a lower down payment could make a difference in the long run.

A new analysis of data on the Custom Built Home Market reports that the growth of the market share of custom built homes has slowed yet still remains in fluctuation. The past four quarters, ending in Q1 of 2017, record a two percent increase in the number of custom home starts nationwide compared with the previous four quarters. Experts predict the market will continue to fluctuate in the coming quarters.

Monday, Flagstar Bancorp, Inc. closed on its formerly announced acquisition of Opes Advisors, Inc. In doing so, Flagstar said it has now expanded its origination business and increased its access to higher quality purchase mortgage originations. This is Flagstar’s second acquisition this year.

Millennials are starting to move into the housing market, but with inventory dwindling they may be out of luck. The solution? Newly built homes. Though millennials are often first time buyers, it does not necessarily mean they are starter home buyers.

On Wednesday, LendingHome, a mortgage marketplace lender, announced two new business developments. The company gained Fannie Mae seller and servicer approval, which according to LendingHome, allows them to expand their consumer home financing business and better serve their customers. They also announced Robert Stiles, formerly Nationstar Mortgage, as CFO.

Higher existing-home sales do not necessarily mean high homeownership rate. With homes selling fast, homebuyers are starting to realize they can afford less of what is on the market. Lawrence Yun, chief economist of the National Association of Realtors, Jonathan Spader, senior research associate at the Joint Center for Housing Studies at Harvard University, and Mark Calabria, chief economist and assistant to Vice President Mike Pence weigh in on the 2017 midyear forecast.

On Thursday, both FHFA Director Melvin L. Watt and Treasury Secretary Steven T. Mnuchin separately addressed the current state of the GSEs. Though Mnuchin discussed the priority of housing finance and regulatory reform in front of the Senate, at an industry conference Watt described the many successes of the FHFA in the last nine years. Watt warned that reforms made during conservatorship should not be ignored by congress during the reworking of housing finance reform.

A recent survey concluded that the number one misconception and cause for dwindling first time homebuyers is being required to put 20 percent down when it comes to securing a mortgage. Other believed factors include a reduced number of houses on the market, growing student debt, and rising interest rates. Constant dialogue between industry professionals and the education of prospective buyers can help remedy this trend.

While April continues a 19-month trend of decline in the number of houses on the national market, down 13.3 percent, market demand continues to surge, causing rising prices and decreased median time from listing to going under contract. Many houses across the country are selling above their asking price. This trend could continue through May and June as more houses appear on the market.