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.
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 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.
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.
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.