First American: Rising Mortgage Rates, Stagnant Incomes Create Home Affordability Crisis
First American Financial Corp.’s May 2022 First American Real House Price Index (RHPI) shows real house prices increased 50.8% year over year but median...
Craig Crabtree: Housing Affordability Has Become a Major Issue
PERSON OF THE WEEK: Mortgage interest rates continued to rise this past week, with the average rate for a 30-year fixed-rate mortgage climbing to 5.54%,...
Thirty-Year FRM Average Changes from 2.78 to 5.54 Percent in One Year
Freddie Mac’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 5.54% with an average 0.8 point as of...
Fannie Mae Downgrades Expectations with Constrained Economic Growth
Amid record inflation and higher interest rates, expectations for full-year 2022 and 2023 real GDP growth were downgraded in July due to softening consumer...
Existing-Home Sales Decrease for Fifth Month in June, NAR Reports
Existing-home sales dropped for the fifth straight month in June, according to the National Association of Realtors (NAR). Three out of four major U.S....
New Home Mortgage Applications Decrease 12 Percent in June
Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for June 2022 show mortgage applications for new home purchases decreased 12% compared from a...
Class Valuation Completes Verification Process for Freddie Mac Solution
Class Valuation reports that it has completed the verification process for Freddie Mac’s new ACE+ PDR (automated collateral valuation plus property data report) solution.
These...
Xactus Rolls Out HELOC Verification Services Bundle
Verification solutions provider Xactus has launched a new HELOC Verifications Bundle to assist lenders and brokers with targeting prospects, assessing risk, and increasing efficiencies...
Relocations Hit Record Highs as Homebuyers Move to More Affordable Areas
A record 32.6% of Redfin.com users nationwide looked to move from one metro to another in the second quarter, up slightly from 32.3% in...
Redfin Reports First Annual Home Supply Increase Since 2019
The number of homes for sale nationwide in June rose 2%, the first annual increase since July 2019, according to a new report from...
Freddie Mac: Affordability Persists as Top Obstacle to Homeownership
Freddie Mac’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 5.51% with an average 0.8 point as of...
Illinois, New Jersey and Ohio Show Highest Foreclosure Rates
ATTOM’s Midyear 2022 U.S. Foreclosure Market Report shows there were a total of 164,581 U.S. properties with foreclosure filings – default notices, scheduled auctions...
Why Would a Branch Move in Today’s Challenging Market?
BLOG VIEW: Rising mortgage interest rates and rapidly rising home prices have created two massive hurdles for mortgage industry players to overcome in the...
Radian Debuts Division Focused on Alternative Funding Sources for Lenders
Radian Group Inc. has launched Radian Mortgage Capital LLC (RMC), a mortgage conduit formed to provide residential mortgage lenders with an additional secondary-market option...
MBA: Mortgage Applications Decline for Second Straight Week
Mortgage applications decreased 1.7% on a seasonally adjusted basis from one week earlier, according to Market Composite Index data from the Mortgage Bankers Association’s...
LendArch Hires Karthik Kumar as EVP and COO
Karthik Kumar has joined LendArch, which enables mortgage firms to improve their processes and technology strategies while creating improved borrower experiences, as executive vice...
Mortgage Credit Availability Tightened in June
Mortgage credit availability decreased 0.3% in June to a score of 119.6 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index.
Credit availability for...
Nearly 3 Percent of U.S. Mortgages in Delinquency, Reports CoreLogic
CoreLogic’s monthly Loan Performance Insights Report for April 2022 shows that 2.9% of all mortgages in the U.S. were in some stage of delinquency...
Rate Lock Activity Continues to Decline for Third Straight Month
Black Knight Inc. has released its latest Originations Market Monitor report, looking at mortgage origination data through June month-end by leveraging daily rate lock...
Redfin Reports Home Sales Canceled at Highest Percentage Since March 2020
Nationwide, roughly 60,000 home-purchase agreements fell through in June, equal to 14.9% of homes that went under contract that month, according to the latest...