Tag Archives: First-Time Homebuyers

In response to the rapid home price appreciation the country has experienced in the last four to five years that is keeping many would-be first-time buyers out of the housing market, one U.S. Senator has drafted legislation that would provide access to affordable housing.

With mortgage interest rates near historic lows and underwriting standards improving, NeighborWorks America has increased the target dollar amount for mortgage originated by nonprofits in its network.

HUD cited improved mortgage literacy, greater appreciation for communication with lenders, and improved underwriting qualifications among the positives.

First-time buyer volume surged 15 percent in May and the first-time buyer share of home purchase loans continued to climb as well. What factors are behind the increases?

The increasing cost of rental housing is prompting a larger number of consumers to go searching for a home to buy.

According to the American Enterprise Institute’s International Center on Housing Risk, first-time buyer volume has jumped 18 percent since April of last year, totaling 98,000 first-time buyer loans for the entire month.

First-time buyers are often faced with several barriers to homeownership including student loans, down payment savings, and balancing multiple financial priorities, but they ultimately express a desire to own a home.

First-time homebuyers are faced with two major challenges in the housing market that are keeping them from purchasing a home: scarce inventory and higher home prices.

David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices noted that financing a home continues to be a hurdle for first-time homebuyers as low inventories and short supply cause home prices to rise.

As home prices increase at a much slower pace than they have been over the last few years, potential homebuyers may have found their opportunity to enter the housing market as homes become more affordable.