Affordability

All types of credit, mortgages and credit cards included, were up in Q1 of 2023.

With fewer homes selling than usual this spring, new listings remain sparse, according to a new report from Redfin, resulting in homes being snatched off the market sooner as homebuyers are left with limited options to choose from.

Completed residential projects in buildings with five or more units jumped 60% year over year on a seasonally adjusted basis to 484,000 in March—the most recent month for which data is available.

A new survey found that 50% of respondents cannot or would not borrow against their homes due to the current interest rate environment.

ATTOM's 2023 U.S. Foreclosure Market Report revealed that foreclosure starts are down 7% from April, while completed foreclosures also decreased nearly 40%. According to the report, one in every 4,234 housing units nationwide had a foreclosure filing last month.

The U.S. Department of Housing and Urban Development has published the Final Rule for the National Standards for the Physical Inspection of Real Estate in the Federal Register, which will be effective July 1 and October 1 for all rental assistance programs.

The two-day summit featured a servicer certification class, followed by a day of panels from experts and highly placed people on a variety of bankruptcy- and default-related topics related to bankruptcy and other areas related to attorneys.

The 2023 ServiceLink State of Homebuying Report reveals a growing share of younger homeowners are taking advantage of the increasing value of their homes, with nearly 50% of millennials saying they are likely to take out a home equity loan.

By revoking the upfront fees based on borrowers’ DTI ratios for loans acquired by Fannie Mae and Freddie Mac, the FHFA continues its engagement to improve clarity and transparency regarding the GSEs’ pricing framework.

About 7% of the 221 metropolitan areas tracked by the National Association of Realtors reported double-digit price gains in Q1, falling from 18% from Q4 2022.