Fannie Mae's latest Home Price Index reveals home prices grew 3% year-over-year in Q2, and while demand remained resilient, competition heated up for the near-historically limited supply of existing homes for sale.
Read More »VantageScore Credit Score Usage Climbed to Over 19 Billion in 2022
Usage by financial institutions increased by 46% year-over-year from approximately 6 billion scores used to 8.8 billion scores. Usage by banks and thrifts increased by 13.5% and usage by credit card issuers increased by over 18%.
Read More »Housing Market Confidence Remained Flat in June
“Confidence in the housing market appears to have plateaued at a relatively low level, suggesting that many consumers may be coming to terms with elevated mortgage rates and high home prices,” said Doug Duncan, Fannie Mae SVP and Chief Economist.
Read More »Serving the Underserved
Fannie Mae’s recap of its Environmental, Social, and Governance efforts in 2022 details how the GSE acquired mortgages supporting 1.2 million single-family home purchases nationwide, nearly half of which were for first-time homebuyers.
Read More »Mortgage Rates Shift Direction, Trend Upward
After a three-week slide, Freddie Mac reports the fixed-rate mortgage rose four basis points week-over-week, and despite affordability headwinds, buyers have driven new home sales to levels seen in more than 12 months.
Read More »Purchase Mortgage Apps Rise for Third Consecutive Week
The MBA reports that new home sales have been driving purchase activity in recent months, as buyers continue to seek options beyond the existing-home market.
Read More »New Single-Family Home Sales Hit 15-Month High
The U.S. Census Bureau and HUD have found that new, single-family home sales were at a seasonally-adjusted annual rate of 763,000 in May 2023, 12.2% above April 2023’s rate of 680,000 marking the highest level reported since February 2022.
Read More »Fannie Mae’s Research Group Makes Downward Revisions for Mortgage Originations
“We forecast single-family purchase mortgage originations to be $1.32 trillion in 2023 and $1.41 trillion in 2024, representing downward revisions of $41 billion and $60 billion, respectively, relative to last month’s forecast,” the ESR said.
Read More »Advancing Latino Homeownership and Housing Stability
Latino homeownership lagged 22 percentage points behind white homeownership in 2021 and experienced significantly higher mortgage denial rates than their white counterparts, according to Fannie Mae’s new Latino Housing Journey. Click through for more on the disparities Latino households face and policy solutions that could increase homeownership opportunities.
Read More »Most Respondents Believe Owning a Home Contributes to Overall Happiness
“Given the consistency of our survey results, we expect consumers' longstanding and highly favorable attitude toward homeownership as an investment option will continue to persist, even in the face of possible recession,” Fannie Mae authors concluded.
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