Affordability

The U.S. Department of Housing and Urban Development announced the pending publication of the Final Inspection Standards Notice, which will align and consolidate inspection requirements in assisted and insured housing.

FICO will host its “Score a Better Future” educational webinar to provide consumers with the knowledge and tools to gain better insight into their financial health along the road to homeownership.

Pending home sales are down nearly 20%, representing the biggest decline in over four months, but people are still showing interest in homebuying despite the total number of U.S. homes for sale declining 6% from last June.

Freddie Mac reports that anticipated Federal Reserve rate hikes forced the 30-year fixed-rate mortgage downward yet again, leading to a slight rise in overall application activity.

If you are looking for a home for summers or a permanent residence, now may be the time to get into the market, as the number of listings on lakes has jumped dramatically this year.

"We are starting to see some patterns that show where the U.S. housing market is cooling off and how it's hitting homeowners based on some key metrics. It looks so far—and it's important to stress, so far—to be having more impact in places with the highest housing costs and less impact elsewhere," said Rob Barber, CEO at ATTOM.

In today’s real estate market, every dollar counts, especially for low- to moderate-income homebuyers. Guild Mortgage’s new product buys down the mortgage interest rate for the first year and only requires a 1% down payment.

Homeowners holding onto mortgage rates below 6% are fueling a nationwide shortage of new listings, as a new report from Redfin revealed more sellers are staying put due to increasing rates and high home prices.

“The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5.00% to 5.25%,” the Fed said in a prepared statement.

Despite a rise in overall mortgage apps week-over-week, the MBA reports that mortgage rates are a percentage point higher than a year ago, and when combined with low for-sale inventory, is constraining home buying activity in many markets.