Affordability

The Five Star Institute is set to present a webinar discussing the landscape of the mortgage industry over the next 12 months, including a possible rise in home equity loans, a decrease in savings, increased credit card usage, and overall consumer weariness, among other topics.

“Some buyers are asking sellers for the sun, the moon, and the stars in addition to offering below the asking price, and some are requesting no extras because they’re so motivated to secure one of the few homes on the market,” said Boise, Idaho Redfin agent Shauna Pendleton.

Early-stage delinquencies (borrowers 30 days late) bore the brunt of the rise, increasing by 200K (+25%), which matches the impact of previous similar calendar-related events.

According to Freddie Mac’s latest report, stubborn inflation is a major concern for the housing market and the economy as a whole. Click through to find out what else Freddie Mac found during Q1.

“The stark difference in home-price dynamics between the Bay Area and Miami may be a reflection of a long-term, pandemic-fueled shift in where people choose to live,” said Redfin Deputy Chief Economist Taylor Marr.

As part of Fannie Mae's ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market, the execution of the fifth Credit Insurance Risk Transfer transaction of 2023 transferred $424.4 million of mortgage credit risk to private insurers and reinsurers.

Boise, Idaho and Austin, Texas experienced the biggest drops in home prices as U.S. median home sale prices fell 4.1% across the board. Click through to see what that decline represents.

During a period of the year where home sales traditionally increase moving into the peak summer season, April sales declined more than 7%.

Nationwide, the typical home costs 25% more to buy than rent, according to a new report from Redfin. Click here to see which major metro areas topped the list of places where mortgage costs are lower than estimated monthly rental costs.

New capabilities will assist lenders in calculating income more quickly and precisely, thus reducing risk and helping serve more qualified borrowers.