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HUD Secretary Marcia L. Fudge will host a virtual event geared toward young adults to help dispel common myths and barriers to buying a home in today’s market and how federal programs can help smooth the path to homeownership.

For the first time since April 2022, mortgage rates have surpassed the 7% mark, with many potential buyers now waiting to see where the market is headed, thus pushing home prices further downward.

Homebuyer affordability plummeted again in September according to the latest MBA analysis, with scarce supply, affordability constraints, and economic uncertainty continuing to hinder potential homebuyers.

With fixed-rate mortgages up nearly 195 basis points since mid-summer lows, new single-family homes tumbled in September, with more homeowners opting to remain in their current homes amid the erratic rate environment.

“Dominant firms shouldn’t be able to hoard our personal data and appropriate the value to themselves,” said Consumer Financial Protection Bureau Director Rohit Chopra.

"After a sustained period of quick sales that kept the housing cupboard relatively bare, a supply of two months presents a lot more options for homebuyers," said Nick Bailey, RE/MAX President and CEO.

Having slowed from recent peaks, house price appreciation in all top 50 markets analyzed in the latest study from First American revealed the housing market is adjusting to the decline in affordability as the hot pandemic sellers’ market transitions in favor of homebuyers.

The grants to support innovative housing programs in multiple communities nationwide will help in targeting federal resources to meet and support local needs and community-driven efforts to end youth homelessness, improving the process and outcome through more stable housing and services.

Todd Rasmussen, President and COO of Equity Valuation Partners, discusses how lenders and financial institutions can sometimes perform their own valuations of home loans on their books.

As mortgage rates rose for the 10th straight week, hitting a 21-year high, housing demand continues to tail off, with the MBA reporting overall app volume falling nearly 2% week-over-week.