One-Third of Millennial Homebuyers Using Extra Savings from Pandemic for Down Payment
For nearly one-third (31%) of millennial first-time homebuyers, the ability to save extra money during the coronavirus pandemic helped them accumulate the money needed for a down payment, said Redfin, Seattle.
2nd Quarter ‘Zombie’ Foreclosures Up 21%
ATTOM Data Solutions, Irvine, Calif., released its second-quarter Vacant Property and Zombie Foreclosure Report, showing 1.4 million residential properties in the United States were vacant in the second quarter quarter, representing 1.4 percent of all homes.
ICE: Time to Close Falls 4th Straight Month
ICE Mortgage Technology, Pleasanton, Calif., issued its Origination Insight Report for April, showing average time to close on all loans fell for the fourth consecutive month to 51 days.
Sublease Space Weighing Office Market Down
Office vacancy rates have risen significantly since the pandemic hit. Yardi Matrix, Santa Barbara, Calif., reported one big reason for the spike: nearly every market has seen sublease space available jump.
MBA Weekly Applications Survey May 26, 2021: Purchase Apps Up; Refis Down
Purchase applications rose, but a sharp drop in refinance applications led to an overall drop in mortgage applications last week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending May 21.