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“The relatively higher interest rate environment has depressed mortgage refinancing in particular. Interestingly, cash-out refinance hasn’t been as impacted as rate and term refinance,” according to Joe Mellman, SVP and Mortgage Business Leader at TransUnion.

The GSE names both national and local lending companies, as well as their loan originators, who have made a commitment to making responsible and sustainable homeownership a reality nationwide.

While spring is typically a hot homebuying season, new listings of homes for sale dropped 19% year-over-year in May, according to a new report from Redfin, leaving homebuyers circling an even smaller pool of listings.

The U.S. Department of Housing and Urban Development has announced it has awarded $10 million in Rural Capacity Building grants, along with $12.5 million in grants through the Self-Help Homeownership Opportunity Program, to help expand affordable housing and homeownership nationwide.

“The balance of power in the rental market is tipping back in tenants’ favor as supply catches up with demand. That’s easing affordability challenges and giving renters a little wiggle room to negotiate in some areas,” said Redfin Deputy Chief Economist Taylor Marr.

The U.S. Department of Housing and Urban Development announced the availability of new funding from President Biden’s Investing in America Agenda, making HUD-assisted multifamily housing more energy efficient by cutting greenhouse gas emissions and improving climate resiliency.

“In the current market, the entire industry is focused on reducing costs,” said Aaron King, Founder and CEO of Snapdocs. “Our research confirms what a growing number of lenders already know—eClosing is critical to any mortgage strategy to remain competitive and improve margins."

Prospective spring home buyers have responded to a second straight week of falling rates according to Freddie Mac, as they pounce on the nation’s limited housing supply, and have driven app volume upward.

“Higher mortgage rates, record levels of home price appreciation, constrained housing inventories, and economic inflation are challenging for both lenders and borrowers,” said Paul Doman, President and CEO of Accurate Group.

Although a national debt default is unlikely, new scenario projections from Zillow reveal home sales would decrease sharply. While home values would not lose much ground, a surge in mortgage rates would do further damage to nationwide housing affordability.