A new survey from Rent. revealed one in four renters spend 50% or more of their income on rent, leaving many Americans to believe they'll never own a home due to steep home prices and elevated mortgage rates. Meanwhile, 71% of respondents reported they are shifting priorities to being debt-free instead of saving for a down payment.
Read More »Keeping Afloat
MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023.
Read More »Housing Market Remains Resilient as Listed, Closed Prices Rise
While both listed and closed prices experienced positive year-over-year growth in June, experts predict that market activity will remain at relatively low levels heading into Q3 2023, with the Federal Reserve continuing to increase rates at a slow pace.
Read More »HAF Assistance Protects 300,000-Plus Homeowners From Foreclosure
At the close of Q1 2023, Homeowner Assistance Fund programs made roughly $3.7 billion in payments to more than 318,000 homeowners at risk of foreclosure–a 50% increase over Q4 2022.
Read More »How Economic Shifts Are Impacting the Single-Family Rental Market
From February 2020 to May 2022, investor purchases of single-family homes grew to 20.4% nationwide, but the investor share fell to 16.2% over the past year, as evolving market conditions continue to fuel a decline in investor participation.
Read More »Nationwide Supply of Low-Cost Rentals Down in Every State
As rental demand heightens, the overall supply of low-rent units has fallen by 3.9 million over the last decade due to rent increases in existing units, building condemnations, and demolitions, according to the latest Joint Center for Housing Studies State of the Nation Housing report.
Read More »Podcast Spotlight: Unpacking the State of the Servicing Space
In a recent episode of SitusAMC's On the Hill podcast, host Tim Rood sat down with Five Star Institute Lifetime Achievement Award Wes Iseley of Carrington Holding Company to discuss his 40-year career, his role with Carrington, and his outlook for the housing industry.
Read More »Renting Now Cheaper Than Buying in Nearly All Highest-Populated U.S. Cities
According to a new study from Home Bay, it is cheaper to rent than purchase a home in 45 of the 50 most populous U.S. cities, with San Jose, California, ranked the most expensive city for buying a home, whereas Pittsburgh was named the most affordable.
Read More »GSE REO Inventory on the Rise in Q1
In addition, a new report notes that Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions in Q1 2023. Click through to read the other data from the GSEs’ Q1 2023 Foreclosure Prevention and Refinance Report.
Read More »Home Prices Remain Elevated, But Selling for $4,000 Less
As the total number of homes for sale declined 11% from a year earlier, a new report from Redfin revealed the typical U.S. home is now selling for an estimated $4,000 less than last year’s all-time high, while new listings fell nearly 30% from 2022.
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