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According to a recent report, mortgage loan applications are on the rise. Effective rates were up for 15-and 30-year fixed-rate mortgages as well as 5/1 ARMS. The Refinance Index hit its highest level since November 2016.

With housing prices continuing to climb, and the housing shortage steadily creeping forward, more metros are seeing a significant majority of their homes hit the million dollar mark. And while that doesn’t necessarily mean homebuyers get less for more, it does mean that “affordable” housing in certain highly desired areas of the country might come with an extra zero on its price tag. See what metros had the largest share of million dollar homes.

Home loans for purchases are continuing their forward momentum in May, representing 68 percent of total loans, according to Ellie Mae’s Origination Insight Report, which focuses on loans that closed in a specific month and compares characteristics to similar loans that closed three and six months earlier. This is a 3 percent increase from April. Conventional purchase loans increased to 61 percent while FHA purchase loans increased to 82 percent and VA purchase loans increased to 73 percent.

Vendor Resource Management, Inc. announced that the U.S. Department of Veterans Affairs has awarded the company with a 10-year contract for program management, marketing, and other real estate services on the VA’s portfolio of sing-family residential real estate. Headquartered in Carrollton, Texas, VRM is a nationwide financial services solution and REO services company helping lenders, servicers, investors and government agencies increase compliance, reduce operational and reputational risk, decrease loss severity and improve origination and servicing returns.

Home prices spiked again, according to the May 2017 Existing Home Sales Index. Total unsold inventory saw a slight uptick compared to April 2017, but is still relatively low, and median home prices are continuing to rise. Seasonally adjusted, there were 5.62 million existing homes for sale, a small increase from April 2017, but how long will this trend sustain itself?

A potential sales report released Tuesday showed an increase in existing-home sales for the Month of May despite the many issues facing home inventory. Industry professionals predict with the growing age of millennials and eventual starting of families, demand for housing will remain healthy. Rising rates and financing costs could be leaving existing homeowners as prisoners to their own homes. Keeping in mind the state of the market when looking at home sales at a particular time will give incite on whether it is a good time to buy or sell.

Most mortgage borrowers don’t shop around for a lender, according to a recent survey. In fact, 36 percent of borrowers only looked at one lender when buying their home, while the remaining 64 percent only compared two. The reason for the lack of research is likely because of referrals and existing relationships. Nearly 80 percent of borrowers used their existing bank, a referral from their real estate agent, or a personal referral when choosing a mortgage lender. A mere 9 percent used an internet search.

As real estate agents say, “location, location, location”—and that means if you’re located near a Whole Foods or Trader Joe’s, according to research. After studying the areas both before and after the stores were built, researchers found neighborhoods that previously were appreciating at normal or below normal levels started appreciating rapidly after opening. Either they know how to pick neighborhoods, or people truly love to live near Whole Foods and Trader Joe’s.

There are many factors that have affected homeownership rates after the 2008 financial crisis— specifically in regards to young adult social norms and changes in the housing market. The homeownership rate among 25- to 44-year olds has dropped 10 percent in the last decade and recent research shows this could be increased with closing the interracial gap in education and wealth. This research falls in line with statistics on diversity found in the corporate world.

A new report shows that not all major U.S. markets are basking in escalating home prices. Nine metros are actually seeing median prices drop. Metros in Texas and the South comprise all but two of those markets.