Daily Dose

“The ongoing affordability hit of higher home prices and fast-rising mortgage rates led to a slowdown in purchase applications in May,” said Edward Seiler, the MBA's Associate VP.

The record-breaking year that was 2021 seems to be a one-off performance, as the 2022 market is experiencing the upward creep of mortgage rates compounded with record-high prices, which is only adding to affordability issues.

After a few weeks of decline, Freddie Mac reports mortgage rates hit a mark last seen in November 2008, having increased by more than two full percentage points since the beginning of 2022.

While existing-home sales fell 3.4% in May, median sale prices exceeded $400,000 for the first time, representing a nearly 15% increase from 2021.

More homeseekers are buying their homes sight-unseen, with current market conditions leaving buyers with few other options.

The U.S. median rental price hit its latest new high of $1,849 per month in May, representing a 26.6% increase since 2019 before the pandemic began, according to ...

The MBA reports that purchase activity was down 10% year-over-year, as inventory shortages and higher mortgage rates are dampening demand.

As June recognizes National Homeownership Month, Chris Garagusi of Enact details ways that lenders can help borrowers find their way in a challenging and confusing housing market.

As housing costs rise and demand begins to slow, inventory continues to recover from February lows, as new data reveals mortgage payments have surpassed rents in 45 of the 50 largest U.S. metros.

Price drops have become increasingly common throughout the U.S., particularly in parts of Utah and other mid-sized metros in the West, according to a new report from Redfin. ...