Homebuyer Affordability Declined Further in May
The national median monthly mortgage payment applied for by purchase applicants increased to $2,211 in May, up from $2,186 in April, according to the...
Controversial ‘Revenge Tax’ Provision Removed From Big Beautiful Bill
The Senate has agreed to remove a provision in the Trump Administration’s One Big Beautiful Bill that would would impose retaliatory income taxes on...
Pending Home Sales Increased Modestly in May
Pending home sales increased 1.8% in May compared with April and were up 1.1% compared with May 2024, according to the National Association of...
If You Build It, They Don’t Care: Expanding Homeownership Access with Authenticity and Culture
For years, the mortgage industry has operated under a hopeful assumption: “If you build it, they will come.” This notion, popularized by Field of...
Rocket Now Offers Bridge Loans, Enabling Homeowners to Buy a New Home Before Selling...
Rocket Mortgage is now offering bridge loans – a new product that allows homeowners looking to buy a new home to use their equity...
New Home Sales Plummeted in May Despite More Inventory
New home sales were at a seasonally-adjusted annual rate of 623,000 in May, a decrease of 13.7% compared with April and down 6.3% compared...
Existing-Home Sales Increased Slightly in May But Remain Sluggish
Existing-home sales were at a seasonally adjusted annual rate of 4.03 million in May, an 0.8% increase compared with April but down 0.7% compared...
First American: Annual Home Price Appreciation at Slowest Pace Since 2012
U.S. home prices increased 0.4% in May compared with April but were up only 2.1% compared with May 2024, according to First American’s latest...
FOMC Maintains Fed Funds Rate as Mortgage Rates Remain Steady
Citing that economic activity has continued to expand, unemployment remains low, and the labor market remains solid, the Federal Open Market Committee on Wednesday...
Housing Starts Plummeted to Lowest Level Since 2020 in May
Housing starts in May fell to a seasonally adjusted annual rate of 1.256 million, down 9.8% compared with April and down 4.6% compared with...
Redfin: Typical Downpayment on a Home Purchase Shrank Slightly as of April
Despite rising home prices, the typical U.S. homebuyer’s down payment shrunk by 1% in April compared with a year ago, according to a report...
More Homeowners Underwater on Their Mortgages in Q1 as Home Price Appreciation Slowed
Roughly 1.2 million U.S. homeowners, or 2.1%, were underwater on their mortgages as of the end of the first quarter, an increase of 17%...
MBA: Mortgage Applications Jumped 12.5 Percent Last Week
Mortgage application volume surged 12.5% during the week ended June 6, despite a slight increase in rates, according to the Mortgage Bankers Association’s (MBA)...
Luxury Home Prices Increased in April Despite Slowing Sales
Sales of luxury homes slowed in April — but that didn’t stop luxury home prices from rising: According to recent report from Zillow, luxury...
Mortgage Credit Availability Now at Highest Level Since August 2022
Mortgage credit availability increased 2.1% in May compared with April, rising to a score of 105.1 on the Mortgage Bankers Association’s (MBA) Mortgage Credit...
Clear Capital: Home Prices Continue to Rise in Most Markets
U.S. home prices increased 1.4% in the three months ended in May and were up 4.2% compared with May 2024, according to the latest...
Another Solid Jobs Report Likely Kicks Hopes of Fed Rate Cut Down the Road
Roughly 139,000 new jobs were added to the U.S. economy in May, while the unemployment rate remained unchanged at 4.2%, according to the U.S....
Cotality: Annual Home Price Growth Slowest in More Than a Decade
U.S. home prices increased 0.6% in March compared with February but were up only 2% compared with March 2024, according to Cotality’s latest home...
Mortgage Rates Down a Smidge This Week
Mortgage rates decreased slightly this week, after three consecutive weeks of increases, with the average rate for a 30-year fixed-rate mortgage falling to 6.85%,...
MBA: Homebuyer Affordability Continued to Decrease in April
Homebuyer affordability decreased slightly in April, falling 0.6% to a score of 163.0 on the Mortgage Bankers Association's (MBA) Purchase Applications Payment Index (PAPI).
That’s...