Despite mortgage rates hitting the highest levels seen in a month, the MBA reports a week-over-week rise in overall mortgage application volume, led by renewed interest in FHA and conventional purchase apps.
Read More »Affordability Challenges Hindering Prospective Homebuyers
Two new studies from the National Association of Realtors show that elevated home prices and limited housing supply are continuous homebuying barriers cited across different races and ethnicities, hampering home sales and affecting prospective buyers nationwide.
Read More »Q2 Housing Affordability Down Across Large U.S. Metros
Even the most affordable metro areas analyzed in NerdWallet's latest Q2 housing activity report experienced price increases that decreased overall affordability, as rising home prices and high interest rates continue to make the homebuying process even more difficult for potential first-time buyers.
Read More »California Metros Top List of Least Affordable Cities for First-Time Homebuyers
Five California metros have been named the least affordable cities and worst cities to purchase a home for first-time homebuyers, according to a new study from WalletHub. Multiple Golden State areas were also ranked for the highest cost of living throughout the U.S.
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 »Zillow: 4.3M New Homes Needed to Address Affordability Crisis
A lack of affordable homes has created millions of “missing households” which are keeping families in shared homes or the rental market.
Read More »Mortgage Apps Rise Slightly Week-Over-Week
While mortgage rates fell for a third consecutive week, limited supply and continued affordability issues are handcuffing prospective buyers, as overall mortgage activity rose just 0.5% over last week’s total.
Read More »Chase Home Lending Shares First-Time Homebuyer Insights, New Resources
According to Chase’s latest First-Time Homebuyer Study, new data revealed that confidence levels remain high among buyers, with 44% of respondents indicating they are confident they’ll be financially ready to purchase in the coming year.
Read More »Potential Gen Z Homebuyers Seeking Midwest Metros to Call Home
A new analysis from LendingTree revealed Gen Zers account for nearly 15% of potential homebuyers across the 50 largest metros in the U.S., a figure experts say will likely grow over the coming years. Click through to learn which metros are the least and most popular for Gen Z buyers across the nation.
Read More »Mortgage Rates Drop Again, But Buyers Are Hampered by Short Supply
Even as mortgage rates edge closer to the 6% mark, homebuyers nationwide are faced with the prospect of low inventory, with new listings having fallen 21.8% year-over-year nationwide.
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