In The News

August Inventory Holds Steady; Market Remains 600,000 Units Short

After posting gains this summer, for-sale inventory levels stalled in August growing at a fraction of the rate seen in recent months as sellers are more frequently choosing to remain in their homes instead of moving. 

Average Homebuyer’s Mortgage Payment Up 15% Since August

The typical homebuyer’s monthly mortgage payment has climbed $337 —or 15%— over the past six weeks to a new high of $2,547, according to a new report from Redfin.

Elevated Purchase Demand Fueling Housing Market Potential

First American Financial Corporation has released the First American’s proprietary Potential Home Sales Model for the month of August 2022.

Hispanic Homeowners Account for Rise in Housing Growth

Hispanic homeownership has steadily grown for seven consecutive years, and it is predicted that Hispanic households will account for 70% of homeownership growth over the next 20 years.

Fannie Mae: Helping Renters Build Credit

Fannie Mae has announced the launch of its Multifamily Positive Rent Payment Reporting pilot program, aimed at helping renters build their credit history and improve their credit score. Beginning September 27, 2022, eligible multifamily property owners can share timely rent payment data through a vendor network to the three major credit bureaus for incorporation in the renter’s

With Homeownership Out of Reach for Many, Millennials Explore Co-Buying

With buyers are seeking smaller mortgages, and “house hacking” quickly becoming the new norm, Pairadime conducted a survey of 1000 millennials in the US around their outlook on home buying, with the results revealing more millennials are looking for smart solutions to achieve their home ownership dreams.

The Week Ahead: Senate to Examine the State of Rural Housing

The United States Department of Agriculture (USDA) established its Single-Family Housing Guaranteed Loan Program in 1991 to help expand access to mortgage financing in rural areas. Since then, nearly 1.5 million rural residents have purchased homes with USDA loan guarantees, and more than 134,000 buyers have used USDA’s loan guarantees to purchase

Industry Experts Provide Insight on SFR Markets, Inflationary Pressures

Mortgage calculator - Sprint Funding

“Demand is weakening on purchase loan applications by about 20%, and new construction is dropping in price as well as existing leases —these are the numbers that really make a difference,” said Tesch. “That’s the reality; we’ve seen numbers way ahead of the norm, which would lead all of us

Share of All-Cash Purchases Remains Elevated, Loans Inch Upward

According to a new report from Redfin, nearly one-third —or 31.4%— of U.S. home purchases were paid for with all cash in July. That’s near the eight-year high reached in February and up from 27.5% a year earlier.

The Average Homeowner Gained $60k in Equity YoY

Home equity hit a new high in the second quarter according to CoreLogic, as homeowners with mortgages gained a collective $3.6 billion year-over-year over the course of a single quarter.