More than 90% of housing markets overvalued, Fitch says
Prices in several cities came in more than 20% above what would be considered a sustainable level when compared to local economic factors, according to the rating agency's report.
Housing markets
Flattening rates fail to bring in mortgage borrowers
Loan volumes fell for the third straight week, with depressed demand for government lending driving activity downward, the Mortgage Bankers Association said.
Home buyers can afford $40K more house, Redfin finds
A potential buyer with a budget of $3,000 per month for their payments is now able to afford an approximately $453,000 home.
Mortgage applications for new homes keep rising
Lending activity among builders surged over 22% annually in December, but the growing share of FHA-backed borrowing in the segment took a step back for the first time in four months, the Mortgage Bankers Association said.
Investor share of single-family market supported by smallest buyers
The segment demonstrated sustained resilience in the third quarter, growing its share of the market each month amid rate volatility, according to Corelogic.
New York’s housing initiative to use private and public funding
The city claims it can build the rental units quicker through this mechanism rather than low income housing tax credits.
Home price growth slows but should keep rising in 2024
Values declined in two regions and were flat in two others, according to the Federal Housing Finance Agency.
Home prices extend records, rising for a ninth straight month
The S&P CoreLogic Case-Shiller index measures a period when 30-year mortgage rates were climbing toward 8%, shutting out increasing numbers of would-be homebuyers.
Refinance applications surge to 2-month high
Heightened government-backed activity also helped bring the average loan size down to its lowest mark in 2023, with purchase amounts falling below $400,000 for the first time since January, the Mortgage Bankers Association found.
New-home sales fall as high mortgage rates weigh on demand
Purchases of new single-family homes decreased 5.6% to a 679,000 annualized pace last month, government data showed Monday.
UWM, Guaranteed Rate, Loandepot roll out new initiatives
Also, Wells Fargo, Finance of America entered into partnerships affecting real estate tax and cybersecurity solutions.
Pending home sales metric hits 2023 high but many may fall out
Follow-through has been weak, but there's hope lower mortgage rates could improve conditions, according to new housing reports from Redfin and MBS Highway.
First-time home buyer income hits record high
With a scarcity of listings driving high home prices, both repeat and new purchasers are putting the most money down in decades, the report found.
All-cash home purchases are on an upward trend
The transactions grew between second and third quarter, with the new-home market seeing one of its largest surges in cash-buying in 13 years.
Why more investors feel ‘much better’ about real estate
The share of residential property buyers that put themselves in the most optimistic category jumped notably in the latest edition of an RCN survey.
Housing market not likely to improve till 2025, analysts say
Public policy experts debated the effect of rising rates on the mortgage market, the impact on homebuyers and ways that Fannie Mae and Freddie Mac could exit conservatorship at the National Mortgage News Digital Mortgage Conference.
Mortgage rates more likely to decline than climb, Freddie says
Even as Freddie Mac's survey put rates at their highest since December 2000, factors like rising oil prices and a government shutdown could slow the economy.
Housing is in a double-dip recession, First American says
High mortgage rates and the lack of inventory for sale pushed the sector into a downturn twice recently – between May and November last year and in May of 2023 – according to First American
Investors made up one-quarter of June’s home purchases
While the share is slightly lower than at the start of 2023, the market is not expected to slip back to lower pre-pandemic levels, CoreLogic said.
Housing market recoups $3 trillion lost in recent slowdown
A shortage of listings has pushed up prices, boosting the total value of US homes to a record $47 trillion, Redfin reported.
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