Homebuyer affordability declined in April, with the national median payment applied for by purchase applicants increasing to $2,256 from $2,201 in March.
Category: News and Trends
Affordable Housing Insights Fireside Chat with Federal Housing Commissioner Julia Gordon
The Mortgage Bankers Association’s Affordable Housing Initiatives team recently interviewed Federal Housing Commissioner Julia Gordon for its Affordable Housing Insights Fireside Chat Series, an interview series with housing industry leaders.
A Nexus of Complexities Facing Mortgage Leaders: Mark Dangelo
In a year of presidential politics, the sound bites never seem to end—or become more pointed.
Virtual Option Available: Artificial Intelligence & Mortgage-The Art of the Possible: June 3
In today’s increasingly competitive and uncertain mortgage environment, lenders need to pay close attention to the power of Artificial Intelligence (AI).
MISMO Seeks Public Comment on Property and Valuation Services v3.6.0 Implementation Guide
MISMO, the real estate finance industry’s standards organization, seeks public comment on the Property and Valuation Services (PaVS) v3.6.0 Reference Model Implementation Guide (I-Guide).
Quote: May 30, 2024
“Homebuyer affordability conditions declined further as mortgage rates remained above 7 percent in April, sidelining many prospective buyers from entering the housing market.”
–Edward Seiler, MBA’s Associate Vice President of Housing Economics and Executive Director, Research Institute for Housing America.
Zillow: Black Homeownership Rate Rises, But Has Not Returned to Prior Peak
Zillow, Seattle, said the homeownership rate for Black households has grown faster than average since 2019, but it remains below the high-water mark reached in 2004, before the Great Recession.
Quote: May 29, 2024
“Mortgage rates increased for the first time in four weeks, with the 30-year fixed rate up to 7.05% and all other loan types also seeing increases. The uptick in rates led to a decline in mortgage applications heading into Memorial Day weekend.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist
Deadline June 3: Call for Speakers – MBA’s Annual Convention and Expo 2024
Speaking proposals for breakout sessions are now being accepted for MBA’s Annual Convention and Expo, taking place October 27-30 at the Colorado Convention Center in Denver. This is the industry’s largest convention and expo focused on residential real estate finance.
First American’s Odeta Kushi: More Homes for Sale Sparks Uptick in Housing Market Activity
In the housing market, the seller and the buyer are, in many cases, the same. To buy a new home, you must sell the home you already own.