First-time homebuyers accounted for a record share of agency purchase lending in the first quarter as higher interest rates continue to dampen repeat buyer participation in the market, according to Intercontinental Exchange Inc.

Realtor.com, Santa Clara, Calif., released its April Housing Trends report, finding that a U.S. household now needs to earn $114,000 to afford a median-priced home. That’s up 70.1% from $67,000 in pre-pandemic 2019.

Industry news from Sagent, Maxwell, Union Home Mortgage, United Wholesale Mortgage, ICE Mortgage Technology, AmeriHome Correspondent, Snapdocs and Autoagent.