Migration

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.

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.

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.

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.”

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.

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.