Tag Archives: Affordability

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%.

After a five-week string of declining rates, mortgage rates rose modestly for the second consecutive week, on the eve of the GSE’s enacting changes to loan-level price adjustments geared toward tackling housing affordability challenges nationwide.

According to Fannie Mae's Economic and Strategic Research Group expectations for Q1, the increase in the sales pace from the end of 2022 to the beginning of 2023 revealed that homebuying demand remains buoyant and was unexpectedly responsive to small declines in mortgage rates.

“Rental cost growth relaxed again in February but is still increasing nationwide year-over-year,” said Molly Boesel, Principal Economist at CoreLogic. “Less-expensive metros have emerged as those with the highest appreciating rental costs, as tenants contend with elevated rents and inflation."

While overall sales declined 22% from a year ago, existing-home sales dipped lower in March after month-over-month sales declined in three out of four major U.S. regions, according to a new report from the National Association of Realtors.

“While the NFCI Credit index indicated that credit tightened in March, which reduced housing market potential, the credit tightening was modest and far from recent pandemic lows, and certainly nothing like the Great Financial Crisis period,” said Mark Fleming, Chief Economist at First American.

The MBA reports a near 9% week-over-week slide in mortgage applications, as cautious buyers proceed through the spring season amid continued affordability challenges and limited supply.

A new report from Zillow has found that younger generations still believe owning a home is part of the American dream but believe they might need to win the lottery in order to achieve that dream.

According to a new report from the National Association of Realtors, middle-income homeowners gained more than $120,000 in wealth over the past decade, as homeowners who benefited from home price appreciation were able to drop their debt by 21%.

Both home sellers and homebuyers continue to struggle to navigate the market, with a new seller survey from Realtor.com revealing that home prices are up 7.8% from last year.