Daily Dose

The concept of “house hacking”—defined as earning extra income by renting out a portion of your home or its amenities such as a pool—is exploding among younger buyers as they try to offset mortgage payments with new income streams.

A recent Senate Banking Committee hearing featured testimony from the FDIC, NCUA, OCC, and Federal Reserve, discussing protection of the nation’s banking and credit union system, and how to ensure the system equally serves all.

As climate changes expose more U.S. housing stock to potential flood damage, the Congressional Budget Office has issued an impact report encompassing homeowners with mortgages protected by the GSEs or backed by the FHA or VA.

October sale prices indicated that the lack of housing supply is constraining market and frustrating homebuyers, according to First American's October Home Price Index report, with sellers continuing their "suppliers' strike" and further hampering already insufficient inventory levels.

Rob Barber, CEO at ATTOM Data, said, “It’s evident that challenges in the housing market persist. While we anticipate a likely decline in the coming months due to the holiday season and other seasonal patterns, we do foresee a continued uptick in 2024 as foreclosure filings make their way through the pipeline.”

According to National Association of Realtors Chief Economist Lawrence Yun, mortgage rates will be between 6-7% by next spring. Here’s what that may mean for existing home sales.

Mortgage servicing proved to be a bright spot for independent mortgage banks in Q3, as roughly half of the companies MBA polled stayed profitable in the quarter, thanks to their production and servicing business lines.

Following a collaborative onboarding and integration cycle, this new partnership expands on an existing correspondent relationship to a strategic servicing partnership.

In its Annual Report to Congress for fiscal year 2023, the FHA detailed the work of its single-family mortgage insurance programs in fiscal year 2023, including updates on credit access, capital in the MMI Fund, and delinquency rates of mortgages in its portfolio.

As homebuyers continue to back out of the housing market, home sellers are providing concessions to help reduce the buyers’ total cost of purchasing the home, according to a new Redfin report, offering some house hunters a sense of financial relief in hopes to sell their homes quickly.