Tag Archives: Mortgage Payments

Redfin's latest housing market update showed that the total share of homes on the market is down nearly 18% year-over-year, representing the biggest decline since February 2022. A significant lack of homes for sale caused home prices to rise nearly 5% annually, as mortgage-purchase applications remain at their lowest level in nearly three decades.

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.

“Prospective homebuyers continued to face challenging conditions in July, with elevated and volatile mortgage rates and low housing inventory serving as a formidable one-two punch that suppressed mortgage applications and sales activity,” said Edward Seiler, MBA’s Associate VP, Housing Economics, and Executive Director, Research Institute for Housing America.

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.

According to a new study, “house poor” homeowners in the Sunshine State and Golden State face the largest housing expenses, including monthly mortgage payments, property taxes, homeowners’ insurance, and utilities.

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.

A new report from the Joint Center for Housing Studies revealed Black, Hispanic, and Asian households were far more likely than white households to fall behind on housing payments during the pandemic. Black renters were most vulnerable, with one in four reporting being behind on rent in 2020.

As economic inflation continues to impact rental prices nationwide, a new study from WalletHub examined the best and worst cities to rent in the U.S., with Midwestern states like North and South Dakota, Kansas, and Iowa topping the list of places with the most affordable rentals.

A new State of U.S. Population Movement Report reveals that more Americans are moving to counties that have a median house value of $279,000—nearly 40% lower than the median house value of counties that are losing population.