News

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.

An upcoming Five Star Institute Webinar will delve into the landscape of the mortgage industry over the next 12 months, including a possible rise in home equity loans, a decrease in savings, increased credit card usage, and overall consumer weariness, among other topics.

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.

The Spring Legal League Summit, hosted by Five Star Institute, featured two days of classes, discussions, and networking, followed by a trip to a Texas Rangers Game.

According to the 2023 ServiceLink State of Homebuying Report, there is still a strong desire across several generations to achieve the goal of homeownership. Approximately 52% of respondents said they still plan to consider buying a home despite challenging market conditions.

Chris Bixby of Rice Park Capital Management offers some keys to accelerating proptech and real estate technology through venture capital.

Home values are up 1% from March to April, with a new report from Zillow revealing the market sits firmly in sellers' favor as rising demand continues to meet low supply.

“Even with high mortgage rates and reduced credit availability, the lack of for-sale inventory continues to be the biggest hurdle to more home purchase growth this year,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

"Generally speaking, home prices are lower in expensive markets and higher in affordable markets, implying greater mortgage rate sensitivity for high-priced homes," said NAR Chief Economist Lawrence Yun.