Black Knight, Jacksonville, Fla., said 57 percent of recent borrowers used rate buydowns to purchase a home, with nearly 25 percent paying two or more points upfront.
Tag: Ben Graboske
Black Knight: 8% of 2022 Mortgaged Home Purchases Underwater; FHA Loans See Early-Payment Defaults Rise
Black Knight, Jacksonville, Fla., said of all homes purchased with a mortgage in 2022, 8% are now at least marginally underwater and nearly 40% have less than 10% equity stakes in their home, a situation most concentrated among FHA/VA loans.
Black Knight: August Home Prices Down Nearly 1%
Black Knight, Jacksonville, Fla., said home prices fell in August for the second straight month.
Black Knight: Tappable Equity Likely Peaked in Spring
Black Knight, Jacksonville, Fla., said falling home prices likely resulted in homeowners’ tappable equity peaking this past May.
Black Knight: Signs of Home Price Cooling as Inventory Levels Improve
Black Knight, Jacksonville, Fla., said home price growth slowed in 97 of the 100 largest U.S. housing markets in May, with the national annual appreciation rate pulling back by more than a full percentage point from April.
Mortgage Holders Gain $1.2 Trillion in 1Q Tappable Equity
The least-affordable housing market in nearly two decades provides at least one windfall—the average home has gained nearly 9 percent in value since just the start of 2022, with homeowners gaining more than $1.2 trillion in equity in the first quarter, said Black Knight, Jacksonville, Fla.
Borrower Behavior Changing as Home Affordability Drops
Though home price appreciation slowed slightly in March, 30-year mortgage interest rates above 5 percent have pushed affordability to nearly its worst-ever level, said Black Knight, Jacksonville, Fla.
Black Knight: Annual Price Growth at Record High
Black Knight, Jacksonville, Fla., said home prices rose by 1.84% in February – nearly four times the 25-year average for the month – marking the 14th month of the pandemic to see greater than 1% monthly growth.
Black Knight: Homeowners Tap Equity at 16-Year High
Black Knight, Jacksonville, Fla., said lenders originated a record 4.4 trillion in 2021, including a record $1.7 trillion in purchase loans.
Home Prices Re-accelerate; Equity Smashes Records; ‘Worst Affordability in 14 Years’
Black Knight, Jacksonville, Fla., said inventory shortfalls caused home prices to re-accelerate in 2021, putting pressure on home affordability but also creating for homeowners a record amount of tappable equity.