Tag Archives: Interest rates

As the Fall semester nears, the latest National Student Housing Report from Yardi Matrix revealed student housing preleasing neared a record high in July, with rent growth significantly ahead of last year.

A new report from LendingTree reveals that Black homebuyers are still more likely to be denied a mortgage when compared to the overall population, with denial rates highest in popular metros like Miami, Detroit, and New Orleans.

The high-priced housing market is affecting homebuyer sentiment nationwide, as a new survey from LendingTree revealed more than 50% of Americans fear they will never be able to own a home.

“Mortgage credit availability declined to its lowest level since 2013, as lenders pulled back on underutilized loan programs and as liquidity concerns remain for some jumbo lenders,” said Joel Kan, MBA’s VP and Deputy Chief Economist. "Declining origination volumes have led to lower profitability for many lenders, resulting in narrower loan product offerings to reduce operational costs.

According to a new survey from Arrived, Americans are seeking financial security and stability from homeownership, but many remain hindered by unaffordability. Nearly 80% of Gen Zers report home prices are their biggest barrier to entering the housing market and purchasing a home.

While households nationwide continue to struggle with the increased cost of living, doxoINSIGHTS’ 2023 State by State Bill Pay Market Report revealed the average American is spending almost $25,000 per year on household expenses, with 73% of consumers reporting that inflation is currently impacting their ability to pay bills.

While housing affordability remains a worry for many Americans, the MBA's Purchase Applications Payment Index revealed purchase applications inched downward in June, as home prices and mortgage rates remain elevated nationwide.

According to ATTOM's 2023 U.S. Home Equity & Underwater Report, the share of mortgaged homes that were equity-rich in Q2 2023 increased from 47% in Q1, reaching the highest point in four years.

Five California metros have been named the least affordable cities and worst cities to purchase a home for first-time homebuyers, according to a new study from WalletHub. Multiple Golden State areas were also ranked for the highest cost of living throughout the U.S.

While rents for one-bedroom units experienced their first year-over-year decline since 2020, prices remain 24.1% higher than 2019. However, Realtor.com’s June 2023 Rental Report predicts slowing inflation throughout the remainder of the year and continued financial relief for renters' budgets.