Data

After weeks of rising mortgage rates, continued economic unpredictability has driven rates down slightly this week, as homebuilder sentiment hit its lowest level in 24 months.

With interest by prospective buyers waning, mortgage application volume fell 11% week-over-week, as economic volatility has forced some households to delay their home search.

According to First American Chief Economist Mark Fleming, rising rates may cool house price appreciation, and bring a new norm to the market.

The rise in mortgage rates and inflationary concerns are impacting new residential construction, as borrower costs continue to force many prospective buyers to the sidelines.

New Census data has found that a spike in the cost of raw materials and continued supply chain issues has driven up the number of home construction projects that were authorized but not started.

Slowdown in refi business has reduced lenders’ availability of government streamline refi programs, which have grown to be less an option for many borrowers.

Representing the 18-24 age demographic, Gen Z’ers are purchasing a small sliver in the current market, but LendingTree expects a “growing splash” of buyers from this generation in the near future.

The journey toward modernization began more than a decade ago with the digitization of appraisal data through the Uniform Appraisal Dataset and the Uniform Collateral Data Portal. A new report examines how this changed the way we think about collateral risk management, enabling new risk-based, data-centric approaches.

Fannie Mae reports mortgage rates have risen once again, further widening the gap many prospective buyers are attempting to overcome to attain the American Dream.

The percentage of adults who became homeowners by age 30 for millennials is under 30%, but for the first time, more than half of first-time buyers are millennials.