The CFPB, Federal Reserve Board, and OCC have jointly launched new thresholds for smaller loan exemption from appraisal requirements for higher-priced mortgage loans for 2024.
Read More »Greater Share of Home Sellers Dropping Asking Prices
While buyers contend with mortgage rates edging toward the 8% mark, Redfin reports that an increasing number of the nation’s home sellers are reducing their asking prices. Read the full data here.
Read More »Mortgage Rates Dip as Fed Continues ‘Wait and See’ Approach
A drop of just three basis points in the 30-year fixed rate mortgage provided little relief to prospective buyers, as ambiguity around monetary policy will likely continue to stall improvements in the housing market through the end of the year.
Read More »Median Existing-Home Sales Price Continues to Rise
Why did NAR Chief Economist Lawrence Yun state that "the Federal Reserve simply cannot keep raising interest rates”? Check out the latest housing market data breakdown from the Existing-Home Sales Report.
Read More »Home Prices Remained Resilient Through Q3, But Will That Change?
According to a new report from Fannie Mae, a deceleration in home prices is likely in 2024, with economic growth projected to slow.
Read More »Pending Home Sales Fall 7% in August
NAR reports that pending home sales dropped in all four U.S. regions month-over-month and compared to one year ago, as mortgage rates above 7% continue to impact homebuying.
Read More »Purchase Mortgage Apps Down 27% YoY
As mortgage rates advanced upward to levels last seen 20 years ago, the MBA reports overall application volume slipping yet again after a quick one-week rebound.
Read More »Home Prices, Listings Up; Pending Sales Down
According to Dana Anderson, a Data Journalist for Redfin, median sales prices occurred in eight of the top 50 metropolitan markets, while pending sales fell in all 50 markets at an average rate of 13%.
Read More »Federal Open Market Committee Holds Steady
The Committee will continue to assess additional information and its implications for monetary policy at future meetings with an inflationary goal of 2%.
Read More »Mortgage Rates Soar to 22-Year High
While economic uncertainties remain a struggle for many Americans, rate hikes continued to slow overall housing market activity in August as mortgage rates reached their highest in over two decades, according to HouseCanary's Market Pulse report.
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