“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.
Read More »Hottest U.S. ZIP Codes Offer Homebuyers More Space, Shorter Commutes
As many Americans return to work, a new Realtor.com report showing the Hottest ZIP Codes of 2023 revealed homebuyer demand is being fueled in part by the desire for more commute-friendly locations and additional space.
Read More »Home Purchase Apps Drop to Near 30-Year-Low
The MBA reports a 4.2% week-over-week slide in overall mortgage application volume, with apps for home purchase mortgages falling to levels last reported in April of 1995, as rates shot up to the 7.30% range.
Read More »HUD: Federal Actions Helped Avert Pandemic-Related Surge in Homelessness
A pair of new HUD reports suggest that federal relief prevented a rise in evictions and homelessness during the pandemic through a series of federal intervention actions.
Read More »Better Home & Finance to Close Business Combination With Aurora
Digital homeownership company that has surpassed $100 billion in funded loans will become a publicly traded company and continue developing its proprietary loan origination platform, Tinman.
Read More »Multifamily Gains Lead Housing Construction Boom
By conservative estimates, up to 1 million multifamily homes are in the pipeline to be completed soon, giving those who are locked-out of the purchase market other options to live.
Read More »Total Housing Inventory Ticks Up as Existing-Home Sales Fall
While total housing inventory continues to inch forward, existing-home sales retreated in July in the face of mortgage rates sitting at 7.09%.
Read More »Demand Down Overall, Starter Homes at a Premium
“There’s a fair amount of demand for lower-priced single-family homes, which in this area means around $400,000 and under,” said Redfin Premier Agent Brynn Rea.
Read More »Michael Wise Joins CMG as Area Sales Manager
Bringing more than 30 years of industry experience to his new role, former Capstone Direct Mortgage Financing Founder joins the retail division of CMG Financial.
Read More »Home Builder Confidence Wanes in August
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.
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