Data

The MBA reports that mortgage rates exceeding the 7% mark and declining purchasing power leading are contributing to fewer new applications nationwide. 

George Reichert of Enact shares how lenders can maintain the best levels of IT service, integrate effectively with their partners, and innovate while also managing their expenses.

Many housing companies and landlords across the country can and do require a background check as part of the application process, along with the traditional credit check, but the unverified or inaccurate information contained in them usually hurts renters first.

The MBA reports an uptick in overall mortgage application volume week-over-week, led by a 4% rise in home purchase applications, despite an 88% year-over-year drop-off in refinance activity.

“Demand for rentals is slowing because economic uncertainty is prompting many renters to stay put, and persistent inflation is shrinking renter budgets. That’s causing rent growth to cool,” said Taylor Marr, Redfin’s Deputy Chief Economist.

In a letter to HUD Secretary Marcia L. Fudge, the Chair of the Housing Financial Services Committee said the supply of the nation’s affordable housing should be a top priority.

With inflation and mortgage rates rising to challenge the industry, MReport speaks to a cross-section of mortgage industry executives about why now is the time to rise to the occasion with innovation and efficiency.

“I’m so proud of FHA’s work to make homeownership possible for our nation’s underserved households and communities,” said Federal Housing Commissioner Julia R. Gordon.

According to a new LendingTree study, although home prices are starting to come down in many parts of the country, housing will likely remain out of reach for most buyers looking to purchase a home.

The MBA reports that credit standards are becoming more restrictive, as its Mortgage Credit Availability Index drops to its lowest level since March of 2013.