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Mortgage rates exceeding the 7% mark have driven overall mortgage app volume down, with refi apps continuing to run more than 80% below last year’s pace.

Next week's Five Star webinar, presented by Selene Title, will discuss the topic of title and its critical role over the life of the loan. Why is title so important in the arena of SFR, build-for-rent, and bulk transactions? Click through to read more and register for the event.

“It is crucial to utilize professional-grade AVMs that can help identify potential racial bias in home valuations and to flag concerns of potential undervaluation of minority-owned properties,” said Eric Fox, Chief Economist at Veros.

”The rapid increase in prices during the COVID-19 pandemic caused many U.S. housing markets to reach completely unaffordable levels for potential local homebuyers,” said Selma Hepp CoreLogic’s Interim Lead, Deputy Chief Economist.

“Surveyed lenders cited personnel expenses as the primary factors driving up loan origination costs over the past two years,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

Although homes are staying on the market longer compared to last year, numbers are still moving faster than pre-pandemic norms. Meanwhile, homebuyers nationwide are pulling back or halting their home searches due to affordability constraints.

A new study from LendingTree found that mobile homes are much less expensive than single-family homes, offering homebuyers a cheaper alternative in purchasing. However, data revealed that mobile homes appreciated in value almost as quickly as single-family homes nationwide from 2016 to 2021.

The latest analysis from the National Association of Realtors revealed pending home sales slipped in September, down 10.2% from August, decreasing in all regions compared to 2021.

Early in the pandemic, many made the decision to leave urban centers in favor of the suburbs and beyond. But according to Redfin, those who moved took not only their belongings but also their voting preferences too, turning some counties from red or blue to purple.

According to a new LendingTree study, the average down payment on homes across the 50 largest U.S. metros analyzed has now topped $62,000, an overall 35% increase compared to 2021.