Company News

This week, mortgage applications increased by 0.5%; a new report shows that U.S. homeowners withdrew $48 billion in equity in the third quarter of 2024; a survey explains why homeowners would rather leverage their equity than sell; the median listing price fell for the third week in a row; the number of new listings on the market picked up compared with the same week last year; and active inventory increased, with for-sale homes 26.1% above year-ago levels.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 11/13/2024
Mortgage applications increased 0.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending November 8, 2024. 

U.S. Homeowners Tapped Into Their Equity More in the Third Quarter
MortgageOrb - 11/11/2024
U.S. mortgage holders withdrew $48 billion of home equity in the third quarter – the largest such equity withdrawal volume in the two years since the Federal reserve first initiated its latest tightening cycle.

Weekly Housing Trends View — Data for Week Ending Nov. 9, 2024
Realtor.com - 11/14/2024
The median listing price fell for the third week in a row, the number of new listings on the market picked up compared with the same week last year and active inventory increased, with for-sale homes 26.1% above year-ago levels.

Homeowners Would Rather Leverage Home Equity Than Sell
National Mortgage Professional - 11/14/2024
A new survey from TD Bank shows that most homeowners think of their properties as precious financial assets, and two-thirds (66%) view their home as a source of generational wealth. 

IMB Production Profits Increase in Third Quarter of 2024
Mortgage Bankers Association - 11/14/2024
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net profit of $701 on each loan they originated in Q3 2024, an increase from the reported net profit of $693 per loan in Q2 2024.

The State of U.S. Foreclosure Activity: Rates, Starts, and Completions
MortgagePoint - 11/13/2024
According to ATTOM‘s October 2024 U.S. Foreclosure Market Report, 30,784 properties in the U.S. had foreclosure filings, such as default notifications, scheduled auctions or bank repossessions.

22% of U.S. Residents Are More Likely to Move Now That Election Is Over, With Many Considering a Different Country or State
Redfin - 11/13/2024
More than a third of U.S. residents (36%) are considering moving to another country, and 26% are thinking of moving to a different state. But 21% of all respondents say they are less likely to move now that the election is over.

Stable mortgage rates could drive 2025 home sales increase - NAR
Mortgage Professional America - 11/11/2024
With mortgage rates expected to settle around 6% and job growth continuing, National Association of Realtors chief economist Lawrence Yun sees a more favorable environment for buyers and sellers on the horizon.

VA Borrowers Are More than Twice as Likely as Conforming Borrowers to Have a Low Down Payment
Realtor.com - 11/11/2024
Over the past 12 months, nearly 3 in 4 (74.5%) home sales with VA loans had a 0% down payment and more than 8 in 10 (85.3%) VA loan home sales had a down payment below 10%. 

More Communication, Earlier, Homebuyers Plead
National Mortgage Professional - 11/12/2024
It takes more than just 'fast and fancy' to please mortgage borrowers, according to the latest J.D. Power study. It's not that artificial intelligence doesn’t help. But today’s borrowers often need a little hand holding, too.

This week, data shows that September home sales dropped to their lowest level since 2010, although new single-family home sales had their best performance in more than a year and a half; mortgage applications decreased 6.7%; TPO purchase originations accounted for almost a quarter of market share between 2018 and 2023; and the housing market has remained largely stable, aside from fluctuations in mortgage rates, which rose again for the fourth straight week.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 10/23/2024
Mortgage applications decreased 6.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending October 18, 2024.

Weekly Housing Trends View — Data for Week Ending Oct. 19, 2024
Realtor.com - 10/24/2024
The housing market has remained largely stable in recent weeks, aside from fluctuations in mortgage rates. While rates are expected to improve into 2025, recent short-term volatilities could continue until the end of the month.

TPO market share holds firm: report
Mortgage Professional America - 10/24/2024
The National Association of Mortgage Brokers’ 2024 Homebuyer Report shows that TPO purchase originations continued to hover around the 24% mark in market share between 2018 and 2023.

New Home Sales Surprises with a Strong September
Scotsman Guide - 10/24/2024
Sales of new single-family houses reached 738,000 on a seasonally adjusted annual basis, the best performance in more than a year and half.

Redfin Reports U.S. Home Prices Grew 0.5% in September, the Fastest Pace Since April
Redfin - 10/22/2024
Redfin reported that home prices rose by 0.5% from August and by 6% on a year-over-year basis. That’s the lowest annual increase since December, but the fastest month-over-month growth rate since April.

Here’s why mortgage rates are rising after the Fed’s rate cut
CNN Business - 10/24/2024
U.S. mortgage rates rose again this week, the fourth-straight weekly increase. That rise in borrowing costs has undone some of the relief Americans felt this summer when mortgage rates fell in anticipation of a rate cut.

Down Payments Ease in Q3, but Remain Near Recent Highs
Realtor.com - 10/22/2024
Down payments reached an average 14.5% and a median down payment amount of $30,300 in the third quarter of 2024. Both values were down from the 2024 Q2 historical peak (14.9%, $32,700), and down year-over-year.

Loans In Forbearance Increase In September
National Mortgage Professional - 10/22/2024
Though it rose only slightly from August by three basis points, the number of loans in forbearance increased to 0.34% as of September 30, according to the Mortgage Bankers Association’s Loan Monitoring Survey.

Single-Family Starts Trend Higher in September
Eye On Housing - 10/18/2024
Overall housing starts decreased 0.5% in September to a seasonally adjusted annual rate of 1.35 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

This week, data reveals that September new home mortgage applications increased 10.8% from last year; home sales rose 3.2% year over year during the four weeks ending October 13 – the biggest increase in three years; mortgage applications decreased 17% from one week earlier; rates climbed higher to 6.52%; and the median listing price has stabilized at year-ago levels as the housing market has continued on without any major shifts in recent months.

September New Home Purchase Mortgage Applications Increased 10.8 Percent
Mortgage Bankers Association - 10/17/2024
Applications for new home purchases declined in September, down 6% compared to August 2024, consistent with seasonal patterns, and continued to run ahead of last year's pace by 10.8%.

Weekly Housing Trends View — Data for Week Ending Oct. 12, 2024
Realtor.com - 10/17/2024
The median listing price stabilized at year-ago levels after falling annually for the last 16 weeks. In general, the housing market has carried on without any major shifts in recent months, despite falling mortgage rates.

Redfin Reports Rising Mortgage Rates Haven’t Yet Slowed Pending Sales
Redfin - 10/17/2024
Pending U.S. home sales rose 3.2% year over year during the four weeks ending October 13, the biggest increase in three years, according to a new report from Redfin.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 10/16/2024
Mortgage applications decreased 17.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending October 11, 2024.

Mortgage Rates Climb To 6.52%, Highest Since Early August
Financial Advisor - 10/16/2024
U.S. mortgage rates rose sharply for a second straight week, reaching the highest level since early August while prompting steep declines in both home-purchase and refinance activity.

Mortgage Credit Availability Decreased in September
Mortgage Bankers Association - 10/15/2024
Mortgage credit availability tightened slightly in September as lenders remained cautious in this uncertain economic environment. There was a decline in loan programs for cash-out refinances, jumbo and non-QM loans.

Home price growth slows, but buyers are still stuck
Mortgage Professional America - 10/16/2024
Single-family home prices increased by 5.9% from Q3 2023 to Q3 2024, a slight deceleration from the previous quarter’s 6.4% annual growth rate, according to the Fannie Mae Home Price Index.

Single-Family Permits Higher in August 2024
Eye On Housing - 10/16/2024
Over the first eight months of 2024, the total number of single-family permits issued year-to-date nationwide reached 685,923. On a year-over-year basis, this is an increase of 11.5% over the August 2023 level of 615,453.

Mortgage Lenders Have Work To Do When It Comes To Customer Service, Survey Says
National Mortgage Professional - 10/15/2024
In the inaugural American Customer Satisfaction Index results, released today, mortgage lenders come up short-handed for customer satisfaction with a debut score of 75, placing the industry on the lower end of the Index overall.

Why America's Housing Shortage Is So Hard To Fix
Financial Advisor - 10/14/2024
Fixing a problem more than a decade in the making won’t be easy, says Ali Wolf, chief economist for Zonda, which collects data on homebuilding.

This week, homebuyers locked in nearly 70% more mortgages by Sept. 23, 2024, than they did a month earlier; mortgage refinancing is expected to increase; real estate value and equity hit an all-time high in the second quarter of 2024; mortgage rates inched higher; mortgage applications decreased; and falling mortgage rates, now at a two-year low, have enhanced buying power by over $74,000 compared to October 2023.

Mortgage Rates Near 6% Are Enough To Start Up A Refinancing Wave
Financial Advisor - 10/3/2024
The business of refinancing mortgages is poised for takeoff, with volume last week nearly three times higher than in the same period a year ago, according to data from Mortgage Bankers Association.

Buyers Usher Into Market After Rate Cut
National Mortgage Professional - 9/27/2024
Homebuyers locked in nearly 70% more mortgages by September 23 than they did a month earlier. The sudden rise of mortgage rate locks came five days after the Fed cut interest rates for the first time in four years.

Household Real Estate Value and Equity Hit New High in 2024 Q2
Realtor.com - 10/1/2024
The total value of owner-occupied real estate, the value of all homes owned by those living in them, reached $48.2 trillion in 2024 Q2, marking the highest total home values ever recorded.

U.S. Home Price Insights – October 2024
CoreLogic - 10/1/2024
The CoreLogic HPI Forecast indicates that home prices will rise by 0.1% from August 2024 to September 2024 and increase by 2.3% on a year-over-year basis from August 2024 to August 2025.

Weekly Housing Trends View — Data for Week Ending Sept. 28, 2024
Realtor.com - 10/3/2024
Declining home prices and increasing inventory are perfectly timed for the Best Time to Buy week. Additionally, falling mortgage rates, now at a two-year low, have enhanced buying power by over $74,000 compared to October 2023.

September Saw Flat Pending Home Sale Activity, Easing Mortgage Lock-In Effect
National Mortgage Professional - 10/3/2024
Pending U.S. home sales were flat year-over-year for the four weeks ending September 29, the first non-decline since January, according to Redfin.

Mortgage rates inch higher
Fox Business - 10/3/2024
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage inched up to 6.12% from last week's reading of 6.08%.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 10/2/2024
Mortgage applications decreased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending September 27, 2024.

Homeowners Stuck as Prices Stall the Market
MortgagePoint - 10/2/2024
Nearly three-fourths of homeowners are hoping to move, but due to the current market conditions, many are putting their plans on hold, creating a backlog of buyers.

National Housing Affordability Improves Annually For First Time Since 2021
National Mortgage Professional - 9/30/2024
National affordability improved in August on an annual basis, marking the first positive year-over-year change since 2021. That's according to First American's latest Real House Price Index data for August, released today.

For the third straight week, mortgage rates fell; mortgage applications increased by 11 percent, while application payments decreased by 3.9 percent; pending home sales inched up 0.6 percent; home prices continue to reach all-time highs, although they have begun to decelerate on a monthly basis; and with lower rates and more inventory, the market is hoping for an upswing during what is considered the best time of the year to buy a home.

Mortgage Rates Fall For Third Week To Lowest In Two Years
Financial Advisor - 9/26/2024
Borrowing costs have fallen in five of the past six weeks, spurring more buyers to jump in from the sidelines.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 9/25/2024
Mortgage applications increased 11.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending September 20, 2024.

Mortgage Application Payments Decreased 3.9 Percent to $2,057 in August
Mortgage Bankers Association - 9/26/2024
Homebuyer affordability conditions improved for the fourth consecutive month, with lower mortgage rates, rising incomes and slower home-price growth giving prospective buyers’ budgets a much-needed boost.

Weekly Housing Trends View — Data for Week Ending Sept. 21, 2024
Realtor.com - 9/26/2024
After last week’s Fed rate cut, another week of falling mortgage rates, and continued improvement in housing inventory, the market is abuzz, just in time for the Best Time to Buy.

NAR: Pending Homes Sales Barely Increased in August
MortgageOrb - 9/26/2024
Pending home sales inched up 0.6% in August compared with July but were down 3% compared with August 2023, according to the National Association of Realtors (NAR).

New-Home Sales Dip in August Despite Easing Mortgage Rates and Listing Prices
Realtor.com - 9/25/2024
Despite mortgage rates diminishing throughout the month and new-construction activity picking up, buyers purchased newly built homes at a slower pace in August than they did in July.

Record-High Home Prices Continue On S&P CoreLogic Case-Shiller's July Home Price Indices
National Mortgage Professional - 9/24/2024
Home prices continued to reach all-time highs in the S&P CoreLogic Case-Shiller Indices for July 2024, though they have begun to decelerate on a monthly basis.

Mortgage forbearance requests increase as labor market softens
Mortgage Professional America - 9/24/2024
The Mortgage Bankers Association reported that the total percentage of mortgage loans in forbearance increased to 0.31% by the end of August, up from 0.27% in July.

It’s not a great fall housing market, but this is ‘as good as it gets,’ economist says
CNBC - 9/25/2024
Lower mortgage rates make monthly mortgage payments more affordable. In some places, cheaper than rent, per a Zillow analysis.

Despite Lower Mortgage Rates, Buyers Won't Bite
National Mortgage Professional - 9/25/2024
Redfin's latest report found that housing activity has been moving at a snail's pace for the past five months.

This week, the Federal Reserve announced a half-point rate cut; mortgage rates continue to drop and housing starts are increasing; housing payments posted the biggest decline in four years; mortgage applications increased 4.4 percent; 2024 will close with the slowest pace of sales since 1995; and there’s a growing sense of optimism as we’re closing in on what is considered to be the best time of year to purchase a home (Sept. 29-Oct. 5).

The Fed just announced a jumbo-sized interest rate cut
CNN Business - 9/18/2024
The Federal Reserve slashed interest rates aggressively Wednesday, announcing the first rate cut since March 2020. The half-point move paves the way for lower borrowing costs on everything from mortgages to credit cards.

Mortgage rates drop to lowest since early February 2023 after Fed’s jumbo interest rate cut
CNN Business - 9/19/2024
Mortgage rates continued to decline this week, taking a little more pressure off America’s tight housing market as the Federal Reserve ramps up its efforts to keep the economy on an even keel.

Weekly Housing Trends View — Data for Week Ending Sept. 14, 2024
Realtor.com - 9/19/2024
As mortgage rates decline, prices drop, and inventories grow a sense of optimism is emerging this fall. With the "best time to buy" just weeks away, there are excellent opportunities for homebuyers before the end of 2024.

August New Home Purchase Mortgage Applications Increased 4.4 Percent
Mortgage Bankers Association - 9/17/2024
Applications for new home purchases continue to show year-over-year growth, increasing by more than four percent and extending the annual growth streak to 19 consecutive months.

Redfin Reports Housing Payments Post Biggest Decline in 4 Years Ahead of Fed's Historic Rate Cut, Which Could Lure Buyers Off the Sidelines
Redfin - 9/19/2024
The median U.S. housing payment was $2,534 during the four weeks ending September 15, down 2.7% from a year earlier–the biggest decline since May 2020, according to a new report from Redfin.

U.S. Housing Starts Increase To Fastest Pace Since April
Financial Advisor - 9/18/2024
Beginning home construction increased 9.6% last month to a 1.36 million annualized rate, the fastest since April, according to government figures released Wednesday.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 9/18/2024
Mortgage applications increased 14.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending September 13, 2024.

Existing-Home Sales Fell Again in August, Despite Declining Mortgage Rates
MortgageOrb - 9/19/2024
Existing-home sales fell 2.5% in August compared with July to a seasonally adjusted annual rate of 3.86 million, according to the National Association of Realtors.

Home Prices See Largest Increase In Four Months
National Mortgage Professional - 9/18/2024
U.S. home prices grew by 0.5% in August on a seasonally adjusted basis, making the highest monthly jump since April. On an annual basis, prices rose by 6.7% – the lowest annual increase since January.

2024 set to mark 30-year low for existing home sales: Fannie Mae
Mortgage Professional America - 9/18/2024
Even as mortgage rates fall and housing supply grows in some regions, 2024 will close with the slowest pace of sales since 1995, according to Fannie Mae’s Economic and Strategic Research Group.

This week, mortgage rates fell to their lowest level since February 2023; both mortgage applications and credit availability increased; refinancing is beginning to pick up as originations doubled in August, accounting for 26% of total mortgage loan production; homeowners now have more than $32 trillion in home equity – a record high; and median prices are falling, and listings are increasing.

Mortgage rates fall to lowest level since February 2023
CNN Business - 9/12/2024
Mortgage rates fell this week to the lowest point since February 2023, in a welcome sign for Americans grappling with a tough housing market.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 9/11/2024
Mortgage applications increased 1.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending September 6, 2024.

Refinance Wave Gains Height And Speed In August
National Mortgage Professional - 9/11/2024
Refinance originations more than doubled on a monthly basis to account for 26% of total mortgage loan production in August, according to the latest Optimal Blue Market Advantage Mortgage Data Report.

Americans have more than $32 trillion in home equity — a record high. Here’s what to know before you tap it
CNBC - 9/11/2024
Thanks to the runup in housing prices, homeowners now have more than $32 trillion in home equity as of the first quarter of 2024, according to the St. Louis Federal Reserve — an all-time high.

Mortgage Credit Availability Increased in August
Mortgage Bankers Association - 9/10/2024
Credit availability increased in August, with the conventional credit index reaching its highest level since July 2022. This was driven by increased cash-out refinance and non-QM programs.

Weekly Housing Trends View — Data for Week Ending Sept. 7, 2024
Realtor.com - 9/12/2024
Median prices are falling, listings are increasing and homes are moving significantly slower as buyers take advantage of a more forgiving and flexible market.

Lower Mortgage Rates A Boon For Monthly Payments
National Mortgage Professional - 9/12/2024
High home prices are being partially offset by the lowest housing payments since January — a byproduct of falling mortgage rates.

Home price growth dips below 5% – will buyers return?
Mortgage Professional America - 9/12/2024
Home prices increased by 4.3% year-over-year in July, down from 4.7% in June, signaling a steady decline in price growth as the housing market faces rising mortgage rates and affordability challenges.

Home listings are up more than 60% in some cities. Here’s where
CNBC - 9/6/2024
Nationwide, active listings in August were up 36% compared with the same month last year, according to a new report from Realtor.com. That was the 10th straight month of annual growth.

An Estimated 4M Loans Await Refinancing Once Rates Hit 6%
National Mortgage Professional - 9/10/2024
As mortgage rates tick down and expectations rise for multiple rate cuts by the end of 2024, lenders and originators have begun preparing for another refinance wave.

Mortgage applications increased 1.6 percent this week; buyers remain in wait-and-see mode as lower prices, an increase in listings and longer times on the market are giving them more time to weigh their options; a new survey shows that 50% of prospective homebuyers can’t afford the basic costs of homeownership; and mortgage rates continue to hold steady.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 9/4/2024
Mortgage applications increased 1.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending August 30, 2024.

Weekly Housing Trends View — Data for Week Ending Aug. 31, 2024
Realtor.com - 9/5/2024
Lower prices, an increase in listings and longer time on the market are giving buyers more time and flexibility to consider their options, setting the stage for a favorable fall.

Fewer people are purchasing homes, despite high demand — buyers are in ‘wait and see’ mode
CNBC - 8/30/2024
Among buyers who can afford a home, many are likely waiting until mortgage rates decline further later this year, as is widely expected.

Half Of Prospective Homebuyers Cannot Afford Basic Home Costs
National Mortgage Professional - 9/5/2024
A new survey reveals that nearly 50% of prospective home buyers are grappling with the affordability of basic home costs, with home insurance emerging as a significant factor influencing their relocation decisions.

Mortgage Rates In The U.S. Hold At The Lowest Level Since May 2023
Financial Advisor - 9/5/2024
Mortgage rates in the U.S. held steady, giving home buyers a crack at the lowest loan costs since May 2023. The average for a 30-year, fixed loan was 6.35%, the same as last week, Freddie Mac said in a statement Thursday.

How Gen Z outpaces past generations in the homeownership race
CNBC - 9/5/2024
In 2023, the homeownership rate for adult Gen Zers, or those between 19 and 26 years old, was higher than the homeownership rate for millennials and Gen X when they were 24, according to Redfin, a real estate company.

Where Are Home Prices Heading Over the Next 24 Months?
MortgagePoint - 9/5/2024
The latest Fannie Mae Home Price Expectations Survey finds that following home price growth of 6.0% in 2023, an annual national home price growth of 4.7% is forecast for the remainder of 2024, followed by 3.1% in 2025.

Single-Family Home Construction Up Across U.S.
National Mortgage Professional - 9/3/2024
The construction of single-family homes was up nationwide in the second quarter of 2024, driven by low inventory and pent-up demand.

How affordable are homes in America?
Mortgage Professional America - 9/4/2024
August brought a much-needed break for prospective homebuyers, with mortgage rates dipping and home prices cooling, according to the latest ICE Mortgage Monitor Report.

Private Residential Construction Spending Inches Down in July
Eye On Housing - 9/3/2024
Private residential construction spending fell 0.4% in July, according to the Census Construction Spending data. Nevertheless, spending remained 7.7% higher compared to a year ago.

This week’s data shows home prices hit a record high in June; contract signings fell 5.5% last month; starter home sales surged 10.2% in July, as buyers took advantage of the recent rate drop; delinquencies and mortgage application payments both decreased; and home prices are still slightly down, while inventory is well above last year’s level and new listing activity picked up year over year as well.

Home prices hit record high in June on S&P Case-Shiller Index
CNBC - 8/27/2024
On a three-month running average ending in June, prices nationally were 5.4% higher than they were in June 2023, according to data released Tuesday.

Pending Home Sales Gauge Drops To Lowest On Record
Financial Advisor - 8/29/2024
A National Association of Realtors index of contract signings fell 5.5% to 70.2 last month, the lowest in data back to 2001, the group said Thursday.

Weekly Housing Trends View — Data for Week Ending Aug. 24, 2024
Realtor.com - 8/29/2024
Home prices are still down slightly year over year, but by less than last week. Active inventory is still well above last year’s level, and new listing activity picked up year over year as well.

Mortgage Application Payments Decreased 1.3 Percent to $2,140 in July
Mortgage Bankers Association - 8/29/2024
Homebuyer affordability conditions improved for the third consecutive month as rates below 7 percent and rising housing inventory continue to bode well for prospective homebuyers.

Starter home sales surge as buyers take advantage of rate drops – Redfin
Mortgage Professional America - 8/27/2024
Pending sales of these entry-level homes jumped 10.2% year over year in July, reaching their highest level since October 2022.

Delinquencies Jumped And New Credit Growth Stalled In July
National Mortgage Professional - 8/27/2024
Through the end of July, both consumers and lenders shifted to a more cautious credit posture, per VantageScore's July 2024 CreditGauge, a monthly analysis highlighting the overall health of U.S. consumer credit.

Those Just Starting Out Can't Afford A Starter Home
National Mortgage Professional - 8/29/2024
The typical starter home sold for a record $250,000 in July, up 4.2% year over year. This translates into a monthly housing payment of $1,981, up 4.4% from a year earlier, according to a new report by Redfin.

Redfin Reports 6 of Every 7 People With Mortgages Have an Interest Rate Below 6%
Redfin - 8/27/2024
Nationwide, 85.7% of U.S. homeowners with mortgages have an interest rate below 6%, down from 90.6% at the start of last year and a record high of 92.8% in mid-2022.

Loan Amounts Rise, Loan Counts Fall In Second Quarter
National Mortgage Professional - 8/26/2024
Loan volumes fell, median monthly incomes rose and alternative loan products increased market share in Q2, according to new data published by Maxwell, a mortgage advisory and technology solutions provider.

First American: Home Affordability Improved Slightly in July
Mortgage Professional America - 8/26/2024
Home affordability improved slightly in July – but not enough to improve homebuyer sentiment, according to the latest Real House Price Index report from First American.

This week, mortgage rates dropped to a 2024 low; home sales rose in July for the first time in five months; mortgage applications decreased 10.1 percent; the national mortgage delinquency rate fell by 12 basis points to 3.37% in July; and things are shaping up for a buyer-friendly end of summer with home prices slightly down year over year and more homes on the market than there were at this time in 2023.

U.S. Mortgage Rates Drop To A 2024 Low As Buyers Await Fed Cuts
Financial Advisor - 8/22/2024
Mortgage rates in the U.S. resumed their downward path, dropping to a new low for the year. The average for a 30-year, fixed loan was 6.46%, down from 6.49% last week, Freddie Mac said in a statement Thursday.

Home sales rose in July for the first time in five months
CNBC - 8/22/2024
Closed sales of previously owned homes rose 1.3% in July compared with June to a seasonally adjusted, annualized rate of 3.95 million units, according to the National Association of Realtors. That was the first gain in five months.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 8/21/2024
Mortgage applications decreased 10.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending August 16, 2024.

Weekly Housing Trends View — Data for Week Ending Aug. 17, 2024
Realtor.com - 8/22/2024
Things are shaping up for a buyer-friendly end of summer. Home prices are down slightly year over year, with considerably more homes on the market than there were at this time in 2023.

Abandoned Homes In Foreclosure Down 20% Annually
National Mortgage Professional - 8/22/2024
ATTOM attributes the decline in foreclosure rates and the low number of zombie foreclosures to high homeowner equity.

National mortgage delinquency rate improves
Mortgage Professional America - 8/22/2024
The national mortgage delinquency rate fell by 12 basis points to 3.37% in July, showing improvement after a calendar-driven rise in June, according to the latest data from Intercontinental Exchange, Inc.

Fannie Mae Lowers Home Sales Forecast
National Mortgage Professional - 8/21/2024
Fannie Mae has downgraded its 2024-2025 home sales and mortgage origination forecasts, raised its 2024 GDP growth outlook and cautioned about increased recession risks due to rising unemployment.

Why a Growing Number of Homeowners Choose To Forgo Home Insurance — and the Nail-Biting Gamble They Face
Realtor.com - 8/21/2024
A 2024 Consumer Federation of America study found that around 6 million homeowners — or 7.4% of the homeowner population in the U.S. — have no homeowners insurance, up from 5% in 2019.

First American: House Price Appreciation Changes Rent-Versus-Own Dynamic
National Mortgage Professional - 8/19/2024
Renting was cheaper in 48 of the top-50 markets in Q2 2024, but only 29 states when accounting for home equity gains.

Redfin Reports Existing Home Sales Rose 0.6% Last Month, But Were At the Lowest July Level on Record
Redfin - 8/19/2024
Sales of existing homes rose 0.6% month over month in July, but fell 2% year over year to a seasonally adjusted annual rate of 4,094,991. That’s the lowest July level in records dating back to 2012.