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Limited inventory has brought about a rise in competition, as a new Zillow report finds that new listings are shrinking nationwide as home sellers accept that near-8% mortgage rates are unlikely to decline anytime soon.

Redfin reports that home investors purchased 15.9% of the U.S. homes sold in Q3, with the typical investment home priced at $475,115, up slightly from $449,895 in Q3 of 2022.

In a letter to TransUnion, Experian, and Equifax, a coalition of Senators led by Sharrod Brown are urging the big three credit agencies to ensure servicemembers receive free credit monitoring services and free access to credit reports.

NAR reports that homebuyer income has seen an annual increase of 22% in 2023, as down payments have jumped to the highest percentage in over two decades.

“I am pleased to announce this final milestone of the SFPDM transition as part of our ongoing modernization and business transformation initiative,” said Ginnie Mae President Alanna McCargo. “The timely and successful completion of this enhancement is due to the combined efforts of the Ginnie Mae staff and our partners in the Issuer community.”

New proposal seeks stakeholder feedback to ensure long-term viability for the HECM program and expanded availability for senior homeowners.

A new study from Point showed that U.S. homeowners have an estimated $29.3 trillion available in home equity, but nearly half of those Americans are unable to access it.

As hedge funds are invested more within the REO market, a growing demand for skilled agents is necessary, and an upcoming course presented by Five Star’s FORCE group will tap into this growing market.

With mortgage rates plummeting 26 basis points week-over-week, Redfin reports that buyers may have a limited amount of time to take advantage. The average rate now sits at its lowest level since mid-September … but for how long?

“FHFA’s comprehensive review of the Federal Home Loan Bank System has highlighted its long-term importance in both providing liquidity in the housing finance market and promoting housing affordability and community investment,” said Director Sandra L. Thompson.