Tag Archives: Mortgage Applications

According to Redfin's latest Housing Market Update, inclement weather that froze parts of the U.S. slowed overall homebuying activity recently. Conversely, agents in warmer regions report that buyers and sellers remain active, despite mortgage rates remaining in the high-6% range.

According to the RE/MAX National Housing Report, home sales dropped year-over-year in December, but experts project that with mortgage rates continuing their downward trend, homebuyers that have been priced out or pushed to the sidelines may begin to creep back into the market.

As Americans continue, "grappling with limited purchasing power," according to Redfin Senior Economist Sheharyar Bokhari, housing supply remained below pre-pandemic levels in December, preventing home prices from dropping further as buyers continue to compete for a limited supply of homes for sale.

A prominent trend in renowned U.S. metros like Washington, D.C., New York, and Dallas, a new report revealed the conversion of office buildings into living spaces is projected to surge to a new record high in 2024, having more than quadrupled in the past four years.

Like the generation that precedes them, members of Gen Z are concerned about affordability, according to a new Point2 study, which revealed the cities and regions where the youngest Americans have the best chance of achieving homeownership.

The CFPB announced the approval of the Independent Community Bankers of America's (ICBA) proposed template to improve mortgage disclosures to "provide consumers greater clarity, streamline the process through improved disclosure requirements, and expand access to more affordable homes in rural areas with limited housing supply," according to Rebeca Romero Rainey, President and CEO of ICBA.

Purchase demand remained strong in August for newly constructed homes, increasing 20.6% compared to a year ago, according to the MBA Builder Application Survey, while the average loan size for new homes increased to $398,092.

Declines in pending home sales were found by Redfin in pandemic homebuying hotspots of Las Vegas, Phoenix, and Austin, with each city reporting that pending sales plummeting more than 50%.

One in 131 mortgage applications contained instances of fraud in the second quarter of 2022 according to CoreLogic, despite a rise in the instances of income fraud and property fraud.

As remote work prompted many Americans to relocate during the pandemic, housing costs soared in second-home hotspots even more than the rest of the country, according to a new report from Redfin. Average rental prices rose 17.1% year-over-year nationwide to ...