Households with a median income of $64,000 or less lost their buying gains in 2023, according to Redfin. The share of new mortgages issued to this group dropped 11 percent from 2020 to 2023. Continue reading
Fannie Mae survey finds 67 percent of Americans agree that it’s a good time to sell, the highest level in nearly 2 years. But only 20 percent say it’s a good time to buy. Continue reading
Low inventory drove prices higher nationwide despite some of the highest mortgage rates in decades, National Association of Realtors Chief Economist Lawrence Yun said on Wednesday. Continue reading
Rates have been in retreat as bond market investors who fund most mortgage loans react to the latest economic news and scaleback in tightening by Fed policymakers. Continue reading
Rising population rates and a shrinking racial wealth gap have led to a rise in new mortgage applications among homebuyers of color, according to Redfin’s latest report. Continue reading
Redfin CEO Glenn Kelman said rising rates and home prices are crushing consumer sentiment. However, rising inventory and a year-end interest rate cut will be key to restoring it. Continue reading
Requests for purchase loans were down 1 percent week over week and 15 percent from a year ago, according to the latest Mortgage Bankers Association survey. Continue reading
Fannie Mae and MBA economists are now in agreement that mortgage rates will come down only gradually this year and next but that home price appreciation will slow. Continue reading
Consistent home price appreciation is touted as the main benefit of homeownership; however, runaway home price growth over the past five years has homeowners feeling locked into a financial prison. According to Redfin’s latest market study, 38 percent … Continue reading
With a recent boost to inventory and steady demand for high-end properties, luxury homeowners are ready to cash out on existing homes and use their cash power to buy a new home, fueling price growth. Continue reading