Origination

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.

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.

"With interest rates now at their highest level in 20 years, the refi market is rapidly approaching a bottom," said Scott Happ, President of Optimal Blue, a division of Black Knight.

The House Financial Services Committee will host a hybrid hearing focused on poverty in the nation’s colonias, discussing their housing and community development needs and challenges in these communities.

The Department of Housing & Urban Development encouraged aspiring buyers to “stay ready” during the virtual event and also launched a dedicated webpage to connect people to pathways to homeownership.

As mortgage rates remain in the 7% range, app volume fell slightly this week, with the refinance share of volume hitting a low last seen in August of 2000.

According to the latest Redfin analysis, a surge in construction during the pandemic boom resulted in nationwide inventory growth, as the share of single-family homes is up 25% from Q3 of 2021.

"In a shifting and ultra-competitive marketplace, with twice as many real estate agents than listings, having insights from experienced agents—80% of whom are confident about making it long term as an agent—about what works best to power business growth has never been more valuable," said Donna August, VP of B2B Marketing at Realtor.com.