Affordability

According to Bank of America’s 2023 Homebuyer Insights Report, prospective homebuyers said they feel more confident in their ability to purchase a home today, while 55% of respondents believe the market is more competitive than last year.

However, in good news for buyers, mortgage rates averaged 6.38% in April, a full 17 basis points lower than was reported in March.

As the nationwide homeownership rate sits at nearly 70%, a new study from PropertyShark revealed which economic factors continue to impact U.S. rates. Percentages in coastal and southern states have seen a sharper decline compared to states like New York or California.

The Home Purchase Sentiment Index published monthly by Fannie Mae reported yet another increase to its highest level since May 2022, mainly due to greater consumer optimism about mortgage rates.

MortgagePoint examines the impact of the recent bank failures on the mortgage space, with a cross-section of experts imparting their perspectives on how to avoid similar issues in the future.

According to a new study from Harvard's Joint Center for Housing Studies, research highlighted how home values in majority-white neighborhoods have risen much faster than those in neighborhoods of color, as common trends in lower-income neighborhoods such as gentrification and displacement persist.

According to new research from Redfin, the historic drop in active listings due to the “lock-in” effect is bringing back the pandemic trend of bidding wars as homeseekers compete for a shrinking share of homes.

According to a new analysis from Harvard's Joint Center for Housing Studies, data revealed just how significant of an impact digitalization has on how Americans search for and finance homes. Click here to read more.

The “lock-in” effect is in full swing as the lack of sellers is impacting not just inventory but affordability as well.

As nearly 18 million owner-occupied homes throughout the U.S. are now housing-cost-burdened, a new study from LendingTree revealed the share of households headed by single mothers are much more likely to overspend on housing costs than others.