An upcoming Senate Banking Committee hearing will examine the state of Main Street, featuring testimony from top-ranking members of the FDIC, OCC, NCUA, and Federal Reserve.
Read More »Delinquency Rate Finds New Low
“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.
Read More »COVID-19 Boomtowns Report Higher-Than-Normal Inflation
People gifted with remote work overwhelmingly chose to migrate to the Sun Belt, resulting in higher housing costs, which weigh on inflation figures.
Read More »Major Metros Show Significant Home Price Gains in Q3
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.
Read More »Ginnie Mae’s MBS Portfolio Grows by $23B in October
“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.
Read More »Foreclosure Activity Up Nearly 60% Year-Over-Year
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.
Read More »Report: Housing Market Still Reeling From Rates
According to a new report from Redfin, one-third fewer homes went under contract in October compared to last year.
Read More »As Originations Decline, Consumer Interest in HELOCs Inches Upward
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.”
Read More »Report: Number of Underwater Homeowners Spikes Over Past Quarter
New Black Knight data takes a look at "the largest quarterly decline [in newly acquired equity] on record by dollar value and the largest since 2009 on a percentage basis.”
Read More »Newly Built Homes Making Up Increasing Market Share
Homes built during the pandemic boom are now going up for sale, according to Redfin's latest market report. The share of new construction homes reached 29%, marking a new high for any Q3 on record.
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