The correlation between the asking price and the size of the down payment is behaving as expected—as the housing market has cooled over the past year, down payment amounts are down by 10%.
Read More »Homebuyer Assistance Programs Increase for Fifth-Straight Quarters
A new report found an upward trend in new homebuyer assistance programs amid difficult homebuying conditions.
Read More »More Homebuyers Looking to Small Towns, Rural Areas
According to a new survey analysis from the National Association of Realtors, while the share of first-time homebuyers has dropped to record lows, the share of homes purchased in small towns and rural areas reached record highs.
Read More »Potential Buyers Increasing Down Payments to Secure Homes
New data from Redfin's latest market report showed that homebuyers’ down payments doubled during the pandemic, and despite September revealing a slight decline from their peak in June, competition and increasing home prices continue to make it difficult for prospective buyers to afford homes.
Read More »Homebuyers Still Believe That 20% Down Is a Necessity
Among renters and non-homeowners, many believe that the once-standard down payment of 20% is a rule, not a recommendation, on the path to homeownership.
Read More »The Midwest: Where Saving for a Down Payment is Easiest
Saving for a down payment is one of the most important steps in the homebuying process. But as the average home price eclipses $380,000, the amount buyers need to save up ...
Read More »Despite Low Mortgage Rates, Americans Struggle to Afford Down Payments
A recent report reveals that monthly mortgage payments for U.S. homeowners have hit record lows. What factors are preventing prospective homebuyers from making this first step toward homeownership?
Read More »The Millennial Home Shopper—Booming and Buying Cheaper
Despite some common misconceptions, millennials aren't looking to buy in pricier metro areas. Where are these young buyers looking to move?
Read More »How Can Lenders Reach Millennial Homebuyers?
Millennials are the fastest-growing and largest homebuying group in the nation, but their needs may be different than those before them. At an MReport webinar titled Hottest Buyers on the Block: Reaching Millennials, experts addressed how lenders can change their approach to keep up with the changing needs of these buyers.
Read More »The Next Gap in Housing: Homebuyer Knowledge
Home prices continue escalating in a generally tight U.S. market, which is making half of Americans believe they can’t afford to buy, according to a new report from ...
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