MISMO Updates Fee Naming Guide

MISMO, the real estate finance industry’s standards organization, announced that it has added more than 40 new standardized fee names and definitions to its Fee Naming Guide.

Quote of the Day

“After adjusting for the July 4th holiday, purchase applications increased to the highest level of activity since February 2023 and remained above year-ago levels.”
–Joel Kan, MBA Vice President and Deputy Chief Economist

Zillow Finds Buyers Need $17,000 Raise to Afford a Home

Five years ago, a median-income household could afford a typical U.S. home. Today, they’re more than $17,000 short, even if they have $73,000 saved for a down payment, a new Zillow analysis found.