Realtor.com® 2024 Housing Forecast: Housing Affordability Finally Begins to Turnaround
Buyers will finally see lower prices (-1.7%) and mortgage rates of 6.8% (on average), but may scramble to find inventory (-14%) as current owners happy with their low mortgage rates and pandemic home purchases
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 0.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 24, 2023. This week’s results include an adjustment
The Home Stretch
Thanksgiving is over. That means we are in the home stretch of the year. From a business perspective, many within the real estate industry will be happy for this year to end. There is
Typical Home Buyer’s Annual Household Income Climbed to Record High of $107,000 in Wake of Rising Home Prices and Mortgage Rates
Buyer income annual increase of 22% is largest on record (from $88,000 in 2022 report); down payments jumped to highest percentages in two decades Key Highlights First-time buyers made First-time buyers made up 32% of
Buyer Demand Hanging Tough, Despite Rates and Seasonal Cooldown
Inventory deficit lessens while competition over attractive listings has them selling fast A deficit of new listings shrank to 1.2% below last year as total inventory rose 2.6% month over month. Mortgage payments have
Services Activity Slows While Bank Lending Continues Tightening, At A Slower Pace
Key Takeaways: The ISM Services Index declined 1.8 points to 51.8 in October, its lowest level since May. Both the business activity index and the employment index fell sharply, declining 4.7 points to 54.1 and
Mortgage Delinquencies Increase in the Third Quarter of 2023
WASHINGTON, D.C. – The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62 percent of all loans outstanding at the end of the third quarter of 2023,
FHA Proposes Update to Home Equity Conversion Mortgage Assignment Claims Eligibility to Strengthen Market Liquidity
Proposal posted for feedback will ensure long-term program viability and expanded availability for senior homeowners. WASHINGTON - The Federal Housing Administration (FHA) today announced it has posted for industry feedback a proposed update to its Home Equity
Dave Hershman – The Mortgage Rate Questions
We will ask three mortgage questions this week. First, why are mortgage rates so high? We know why interest rates are high—the Federal Reserve has increased short-term rates to deal with stubborn inflation. But
FHFA House Price Index Up 0.6 Percent in August; Up 5.6 Percent from Last Year
FHFA House Price Index Up 0.6 Percent in August; Up 5.6 Percent from Last Year FOR IMMEDIATE RELEASE 10/31/2023 Washington, D.C. – U.S. house prices rose in August, up 0.6 percent from July, according to the Federal