Mortgage Credit Tightened in September as Lenders Remained Cautious
Mortgage credit availability decreased in September, falling 0.5% to a score of 98.5 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI).
A...
Average Monthly Housing Payment Has Spiked 20 Percent Since 2020
The average monthly housing payment hit an all-time high in August, due mainly to rising insurance costs, which have been increasing at three times...
CoreLogic: Home Price Growth Muted in August
U.S. home prices increased 1.0% in August compared with July and were up 3.9% compared with August 2023, according to CoreLogic’s home price index...
Home Prices Hit New High in July but Rate of Appreciation Slowed
U.S. home prices increased 0.2% on an adjusted basis in July compared with June and were up 5% compared with July 2023, according to...
MBA: Applications for New Home Purchases Increased 4.4 Percent Annually in August
Despite a slight decrease in rates that came during the month, applications for mortgages for new home purchases were flat in August compared with...
August Jobs Report Shows a Cooling Labor Market, Supporting a Fed Rate Cut
The U.S. economy added 142,000 jobs in August - weaker growth than in previous months - while the unemployment rate remained flat at 4.2%,...
First American: Rising Inventory in April Had Little Effect on Home Prices, Affordability
A combination of increased listings and weakening affordability continued to dampen home price appreciation in April – a trend that will likely to continue,...
Redfin: Demand for Vacation Home Mortgages Dropped 40 Percent in 2023
Demand for vacation-home mortgages fell 40% in 2023 as the average U.S. home price surged to a record high, Redfin reports.
Austin and the Bay...
Are Prime Borrowers Really Still ‘Prime?’
In the current economic climate, borrowers and lenders alike are afflicted by rising inflation, elevated interest rates and changing employment patterns. Just as borrowers...
Building Success in a Tough Market: Key Strategies for MLOs
In today's mortgage landscape, mortgage loan originators (MLOs) must find their way to success through an increasingly complex and difficult market. With the downturn...
Loan Performance Remained Stable in March, ICE’s First Look Report Shows
Mortgage delinquencies were at a rate of 3.2% as of the end of March, a decrease of 4.15% compared with February but up 9.4%...
Housing Starts Slowed in March as Market Starved for Inventory
By most measures, March was a bad month for U.S. housing starts, due mainly to stubborn inflation, rising rates and a Federal Reserve that...
Jason Perkins: Why Now is the Time to Spring Into Digital Marketing
Mortgage lenders have been relying on CRM software to maintain their customer relationships and grow their businesses for decades. But it’s when the housing...
Homeowners Have Zero Incentive to Upsize in This Current Housing Market
With mortgage rates now well above 6.5% and home prices rising to all-time highs due to lack of inventory, first-time homebuyers are getting discouraged...
Community Reinvestment Act Gets Modernized – But Will Lenders Be Challenged to Comply?
Revisions to the Community Reinvestment Act (CRA) were signed into effect Tuesday by the Board of Governors of the Federal Reserve System, the Federal...
MBA: Mortgage Origination Volume Forecast to Jump 19 Percent in 2024
Mortgage origination volume will reach $1.95 trillion in 2024 - up from the $1.64 trillion expected in 2023 - according to the Mortgage Bankers...
ATTOM: Foreclosure Activity Increased in the Third Quarter
Foreclosure filings — including default notices, scheduled auctions or bank repossessions — increased 28% in the third quarter compared with the second quarter and...
ATTOM: Homeownership Now Consumes 35 Percent of the Average Wage Nationwide
Homeownership became significantly less affordable during the third quarter, as both mortgage rates and home prices continued rise, according to ATTOM’s 2023 U.S. Home...
New Home Sales Plummeted in August as Mortgage Rates Continued to Rise
New home sales dropped 8.7% in August compared with July, as the average rate for a 30-year fixed-rate mortgage hovered at around 7.2%, according...
Housing Starts Dropped in August as Mortgage Rates Soared
Housing starts dropped in August as mortgage rates hit new highs and affordability eroded for first-time homebuyers.
According to estimates from the U.S. Census Bureau...