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Over the last few weeks, markets have increasingly—and perhaps reluctantly—reflected the resolve of the Fed to lower inflation via rapid tightening of monetary policy," said Doug Duncan, Fannie Mae SVP and Chief Economist.

The latest data from NRMLA/RiskSpan finds U.S. homeowners 62 and older experiencing housing wealth growth of 4.10% or $456 billion in the second quarter of 2022, marking a new all-time high.

As fixed-rate mortgages continue to edge toward 7%, the MBA reports refinance volume has dropped off nearly 90% from last year’s totals, as both refinancing and home purchase apps declined and fell further behind last year’s record levels.

A new report required by law under the Helping Families Save Their Homes Act of 2009, a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act, showed that the majority of loans are current, and foreclosures remain below levels recorded before the pandemic.

The latest analysis from First American Financial revealed that millennials are the most educated generation in American history, with nearly 40% possessing a bachelor’s degree or more, as those with higher education remain more likely to obtain homeownership.

Credit availability fell to its lowest level since March 2013 in September, as reports show credit tightening for the seventh consecutive month.

“Over the last two months, the impact of major increases in mortgage rates and inflation have finally been realized in the slowing rate of home price appreciation. It is once again clear that home prices are not impervious to the broader economic conditions around the country,” noted Steve Gaenzler, SVP of Products, Data and Analytics for homegenius Real Estate.

The number of climate-disaster damage is on the rise according to WalletHub's latest market report. The report examines which states are most impacted by natural disasters, with Hurricane Ian now projected to have done as much as $57 billion in damage to Florida and South Carolina.

New annual allowance from the GSE will assist in the development of housing and workforce housing units to expand the affordable housing supply initiative nationwide.

New data from Black Knight, Inc. has found that most mortgages have a rate below 5%, which reflects current drops in refinance activity, as well as cash-out and rate/term locks.