The typical down payment for U.S. homebuyers hit a record $67,500 in June, up nearly 15% from $58,788 a year earlier, according to a new report from Redfin, Seattle.
Category: News and Trends
Fannie Mae, Freddie Mac Announce New Protections for Renters
Fannie Mae and Freddie Mac announced new protections for renters in multifamily properties with mortgages backed by the enterprises.
American Households With Record High Debt, Motley Fool Ascent Finds
American households are carrying an average of $104,215 in debt as of Q2 2024, amounting to $17.796 trillion total, Motley Fool Ascent, Alexandria, Va., found.
Servicing Quote Tuesday, Aug. 27, 2024
“Zombie foreclosures continue to be a mere blip on the radar screen–one of many measures of the overall strength of the U.S. housing market. After some worries about a rise in abandoned homes following the end of the COVID-era foreclosure clampdown, they remain an anomaly throughout most of the country.”
–Rob Barber, CEO for ATTOM.
MISMO Publishes ESG Reference Materials
MISMO, the real estate finance industry’s standards organization, published a package of new reference material designed to identify environmental, social and governance data elements that could be leveraged by lenders, investors, and trading partners.
Millennials Trying to Save for Homes, but Rent Is Too High, Survey Finds
Lombardo Homes, Shelby Township, Mich., recently released a new survey finding that while 51% of non-homeowner Millennials say they are saving for a home purchase, 77% also say rent is so high it poses a challenge.
Zombie Foreclosure Rate Hovers at Lowest Level Since 2021, ATTOM Finds
ATTOM, Irvine, Calif., released its third-quarter 2024 Vacant Property and Zombie Foreclosure Report, showing that of the residential properties currently in the process of foreclosure, just 7,007 sit vacant as “zombie foreclosures.”
Strategic Consolidation–Analyzing Mr. Cooper’s Acquisition of Flagstar’s MSR Portfolio: Vaultedge CEO Murali Tirupati
The mortgage servicing landscape has witnessed a significant shift in recent days with Mr. Cooper’s acquisition of Flagstar Bank’s mortgage servicing rights portfolio.
ICE First Look: Delinquencies Improved in July
Intercontinental Exchange, Atlanta, released its first look at July data, finding that the national delinquency rate fell 12 basis points from June to 3.37% in July.
MBA Economist Mike Fratantoni on Jerome Powell’s Remarks Indicating Cuts
Federal Reserve Chair Jerome Powell spoke Aug. 23 at an economic symposium sponsored by the Federal Reserve Bank of Kansas City, in Jackson Hole, Wyo. His remarks implied the likelihood of near-term rate cuts.