Origination

"August was another rough month for mortgage borrowers from an interest rate perspective," said Andy Walden, VP of Enterprise Research and Strategy at Black Knight, now a part of ICE.

Efforts to use this digitized data for urban development must also keep in mind how this sort of data has been used historically. A new post from David Luberoff, Deputy Director of the Joint Center for Housing Studies at Harvard University, dives into the concept.

“The worsening housing affordability crisis has an outsized impact on Gen Zers and millennials because they’re much less likely to own a home than older generations,” said Redfin Chief Economist Daryl Fairweather.

The third installment of 2023 of WFG’s “Quarterly Economic Outlook,” featuring WFG Chairman and Founder Patrick Stone along with Dr. Bill Conerly, will review Q3 and look ahead to what’s expected in the housing space for the remainder of 2023.

Even the most affordable metro areas analyzed in NerdWallet's latest Q2 housing activity report experienced price increases that decreased overall affordability, as rising home prices and high interest rates continue to make the homebuying process even more difficult for potential first-time buyers.

“Mortgage rates once again breached the 7% mark in August, hitting a 22-year high and doing no favors for consumer sentiment,” said Doug Duncan, Fannie Mae SVP and Chief Economist.

“The housing market appears to be stuck heading into autumn, with sales activity likely to stay stagnant until housing inventory increases, and mortgage rates decline to more affordable levels,” said MBA President and CEO Bob Broeksmit. Click through to read more on this week's mortgage rates.

Redfin's latest housing market update showed that the total share of homes on the market is down nearly 18% year-over-year, representing the biggest decline since February 2022. A significant lack of homes for sale caused home prices to rise nearly 5% annually, as mortgage-purchase applications remain at their lowest level in nearly three decades.

"The average principal and interest payment among borrowers purchasing a home using a 30-year fixed-rate loan hit its highest point ever in July at $2,306, and that's before taxes and insurance are factored in." said Black Knight VP of Enterprise Research Andy Walden.

Thirty-year industry veteran joins enterprise loan quality and audit services provider to help drive QC Ally’s core pillars of partnership, excellence, and quality.