Market Trends

A new Veterans United Home Loans survey revealed that high home prices are among the top reasons that impact the decision to buy a new home among service members and Veterans. However, many remain optimistic about homebuying in 2023 despite ongoing affordability challenges.

"In our view, the balance still suggests a modest recession, particularly if the Federal Reserve maintains its focus on labor market tightness,” said Doug Duncan, SVP and Chief Economist for Fannie Mae.

Through this latest agreement, the Justice Department’s Combating Redlining Initiative has secured more than $75 million dollars in relief for communities that have suffered from lending discrimination.

Bank of America has announced collaborations with Enterprise Community Partners and developers to preserve housing for middle-income earners, helping preserve more than 3,000 affordable homes nationwide.

The share of homes that sold above their list price also fell to levels last seen in June 2020.

As mortgage volume continues to decline, Sales Boomerang’s latest Q4 2022 Mortgage Market Opportunities Report highlights areas of opportunity still available for loan originators.

“Home prices nationwide are still positive, though mildly,” said NAR Chief Economist Lawrence Yun. “Markets in roughly half of the country are likely to offer potential buyers discounted prices compared to last year.”

Jerel Cain, CEO of TalentWoo, discusses how current market fluctuations are impacting recruiting strategies in lenders’ ongoing quest to secure the right talent.

For the second consecutive week, mortgage rates have dipped, providing a much-needed boost to the housing marketplace and sparking a rise in overall mortgage app volume.

“Renting is more affordable in the majority of markets, despite rental rates continuing to rise over the past year,” said Rick Sharga, EVP of Market Intelligence for ATTOM.