Market Trends

Looking ahead, Ventera’s SVP of Financial Solutions publishes new white paper on the forecast for housing defaults.

As inflation begins to slow, the latest Redfin analysis showed the median home sale price rose just 3% year-over-year, the slowest sale-price growth since the beginning of the pandemic.

While the state of the market has made purchasing a home more difficult, military servicemembers—both past and present—face additional challenges such as frequent relocations due to changing orders.

“For the second quarter in a row, the mortgage delinquency rate fell to its lowest level since MBA’s survey began in 1979,” said Marina Walsh, MBA’s VP of Industry Analysis.

People gifted with remote work overwhelmingly chose to migrate to the Sun Belt, resulting in higher housing costs, which weigh on inflation figures.

First-time homebuyers looking to purchase a typical home during Q3 have begun to feel the impact of nationwide housing's growing unaffordability. A new report from the National Association of Realtors revealed single-family existing-home sales prices grew in nearly every metro analyzed, as the national median home price climbed nearly 9% from 2021.

“The steepest increase in mortgage rates in decades is a headwind for homebuyers, but Ginnie Mae’s guaranty and insuring agency partners are here with products and programs to help consumers achieve their dream of homeownership,” said Ginnie Mae President Alanna McCargo.

However, Rick Sharga, EVP of Market Intelligence at ATTOM, notes that October foreclosure activity was still only “about 59% of pre-pandemic numbers." Click through to learn when he anticipates volumes to reach historically normal levels.

According to a new report from Redfin, one-third fewer homes went under contract in October compared to last year.

Joe Mellman, SVP and Mortgage Business Leader at TransUnion, said, "Considering that homeowners had a cumulative total of $604 billion in non-mortgage debt, [HELOCs allow homeowners to] use their available home equity to pay off more expensive debt while keeping their existing low interest rate mortgage in place.”