"After a sustained period of quick sales that kept the housing cupboard relatively bare, a supply of two months presents a lot more options for homebuyers," said Nick Bailey, RE/MAX President and CEO.
Read More »Share of Income Required to Afford a Mortgage Skyrockets
Mortgage affordability has worsened coast-to-coast, rising to 30.2% nationwide. New data from Zillow reveals that housing affordability is now the worst it has been in several years, leaving many households cost-burdened.
Read More »Housing Inventory Holds Steady, Yet 600,000 Units Short
After posting gains this summer, for-sale inventory levels stalled in August growing at a fraction of the rate seen in recent months as sellers are more frequently choosing ...
Read More »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.
Read More »Purchase App Demand Continues to Shrink
Mortgage application volume fell yet again, remaining at multi-decade lows, as the MBA reported an 8% decline in overall refis apps, which now comprise just 30% of all applications nationwide.
Read More »Bringing Down Payment Assistance Education to a New Generation
While a multitude of downpayment assistance options are available to buyers, most are not aware these options exist, as Rob Chrane of Down Payment Resource explains how proper education can bring these programs to the forefront as a viable option to today’s home buyers.
Read More »Mortgage App Activity Bottoms Out to 22-Year Low
As mortgage rates jumped back well above the 5%-mark last week, the MBA reports overall mortgage app volume falling 2.3% week-over-week, crashing to lows last seen more than two decades ago.
Read More »After Hitting 120-Day Low, Mortgage Rates Rise Once Again
A week after bottoming out to a four-month-low, mortgage rates jumped back upward this week, climbing to 5.22% despite continued correction in the housing space.
Read More »Housing Inventory Climbs for Third Consecutive Month
Realtor.com reports that the inventory of for-sale homes increased across the 50 largest metros by 41% in July.
Read More »Mortgage Rates Fall to Four-Month Low
A market reset may be underway, as fixed-rate mortgages fell just below 5% for the first time since April 7, continuing a trend of instability amid inflationary pressures and a slowdown in economic growth.
Read More »