Secondary Market

The House Financial Services Committee recently gathered a panel of housing experts to analyze affordability challenges in the housing marketplace, with a focus on governmental barriers such as zoning policies that have exacerbated these issues.

“Despite the resurgence in tappable equity among U.S. mortgage holders, elevated interest rates are making homeowners reluctant to extract that wealth,” said Andy Walden ICE’s VP of Enterprise Research.

Keeping pace with the rise in median housing prices nationwide year-over-year, the Housing and Economic Recovery Act requires the FHFA to adjust the GSEs’ baseline CLL value annually.

Homebuyers nationwide are finding some relief entering the Thanksgiving holiday, as mortgage rates have fallen to levels last reported in late-September, garnering interest from buyers and driving up overall app volume to levels not seen in over a month.

With the 30-year, fixed-rate mortgage edging closer to eclipsing the 8% mark, the MBA reports overall application volume falling from last week’s total, dipping to the slowest weekly pace reported since 1995.

“Incoming data shows that the construction of new homes rebounded in September, but as rates keep rising, home builders appear to be losing confidence,” said Freddie Mac Chief Economist Sam Khater. Check out the data and further insights after the link.

From 2018-2022, the GSE has invested more than $3 billion to expand affordable housing supply and meet critical housing needs in underserved communities through Low-Income Housing Tax Credit equity investments. Here’s how those investments are paying off.

Freddie Mac reports the 30-year fixed-rate mortgage rose to an average of 7.57% this week, as purchase demand remains at a three-decade low.

Mortgage rates rose 18 basis points week-over-week according to Freddie Mac, forced upward by the trajectory of the 10-year Treasury yield, shifts in inflation, and the labor market.

"After essentially flattening earlier this year, year-over-year home price growth has been reaccelerating for the last few months," said Andy Walden, ICE VP of Enterprise Research.