While U.S. pandemic migration trends show no sign of reversing, Bank of America Institute's latest housing market report revealed home prices are slowing rapidly even in cities with large inflows of people.
Read More »Mortgage App Volume Falls for Third Consecutive Week
As mortgage rates creep toward the 7% mark, the MBA reports a third straight week of waning interest in mortgage apps, with a lack of inventory playing a role in purchase app drop-off.
Read More »Elevated Mortgage Rates Continue to Handcuff the Housing Market
"Although a lot of homebuyers have acclimated to rates in the 6% range and many are finding ways to lower their monthly payments, like using a 2-1 buydown, high rates are handcuffing potential sellers,” said Redfin Deputy Chief Economist Taylor Marr.
Read More »Fewer Homes Are Selling Than Usual This Spring
While spring is typically a hot homebuying season, new listings of homes for sale dropped 19% year-over-year in May, according to a new report from Redfin, leaving homebuyers circling an even smaller pool of listings.
Read More »Share of Cost-Burdened Households Headed by Single Moms Hits 43%
As nearly 18 million owner-occupied homes throughout the U.S. are now housing-cost-burdened, a new study from LendingTree revealed the share of households headed by single mothers are much more likely to overspend on housing costs than others.
Read More »Average Monthly Payment on New Mortgages Reaches $2,317
Due to persistently high home prices, new homebuyers may shell out costly amounts for their mortgage payments, as a new study from LendingTree reveals that the average nationwide payment on a new mortgage has reached $2,317 a month.
Read More »Share of Americans Living Rent-Free Surpasses Nearly Four Million
While the share of adults behind on rent surpassed eight million nationwide, a new LendingTree study revealed an estimated 3.6 million Americans currently live rent-free, another financial alternative to combating inflated housing costs.
Read More »Mortgage Lending Slumps Again in Q4
According to a new ATTOM report, mortgage lending declined to its lowest point in nearly nine years in Q4 2022, while purchase loans decreased an estimated 26%.
Read More »Racial Wealth Gap Widening for Black Homeowners
According to a new Apartment List report, the Black homeownership rate currently stands at 44% nationwide, as white homeownership continues to exceed Black homeownership in each metro analyzed.
Read More »Report Reveals Signs of Improvement in Homebuying Affordability
MBA forecasts rates and home-price growth to soften, which “should help bring more prospective buyers into the market” come spring.
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