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Tag Archives: First American

Slowing House Price Appreciation Expected to Continue

Having slowed from recent peaks, house price appreciation in all top 50 markets analyzed in the latest study from First American revealed the housing market is adjusting to the decline in affordability as the hot pandemic sellers’ market transitions in favor of homebuyers.

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Share of ARM Loans Climbs to 14-Year High Mark

As overall mortgage rates edge closer to 7%, mortgage app volume experienced their fourth consecutive month of declines, with an uptick in ARM loans demonstrating that they remain a feasible option for borrowers seeking ways to reduce their monthly payments.

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Potential Homebuyers Feel Biggest Impact of Rising Rates

“The higher the mortgage rate, the more sellers will go on strike and the more potential buyers will feel the impact of reduced house-buying power, but price appreciation will further slow and potential buyers can use adjustable-rate mortgages to regain some of that lost house-buying power,” said Mark Fleming, First American’s Chief Economist.

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Mortgage Credit Availability Falls in August

As investors continue to reduce their offerings of ARM and non-QM loan programs and with overall origination volume forecast to constrict, the MBA found mortgage credit availability on the decline once again in August.

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