Tag Archives: Mortgage Rates

While the nationwide supply of homes for sale remains stiff, relocation can be challenging for many homebuyers and renters. A new study from LendingTree revealed that the Austin, Dallas, and Las Vegas metros have the largest share of recent movers.

After seven straight months of positive sentiment in builder confidence, mortgage rates exceeding the 7% mark, as well as high shelter inflation, have eroded housing affordability and put a damper on consumer demand.

Overall housing inventory dropped 15% year-over-year in June, remaining at an all-time low. A new market report from Redfin revealed that homebuyers are turning to new builds as many homeowners continue clinging to their low existing mortgage rates, contributing to the ongoing lack of supply.

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.

The average American homeowner was able to purchase their first home at nearly 29 years old, according to a new survey from Shane Co.'s The Loupe. The survey revealed that the average homeowner rents for roughly five years before purchasing a home, while more than 25% of respondents believe it's now impossible to afford a home as a single person in the current housing market.

According to Black Knight's latest Mortgage Monitor report, purchase locks fell 7.4% from June, while mortgage rates topped 7% in July for the first time since last fall. Click through to see the latest findings.

According to a new report from Redfin, only Western regions are experiencing a drop in asking rents, which are continuing to cool after surging nearly 20% last year.

Freddie Mac Chief Economist Sam Khater points out that "upward pressure on rates is the product of a resilient economy with low unemployment and strong wage growth, which historically has kept purchase demand solid.”

“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.