Mortgage applications for newly constructed homes declined in May as sales and supply are not keeping up with demand, the Mortgage Bankers Association said.
Maintenance and renovations aren't keeping up with the nation's aging housing stock, creating an influx of obsolete properties that's adding further strain to an already tight inventory of homes for sale.
Marc Dann, a former Ohio attorney general, has a plan to publicly maintain the CFPB's consumer complaint database if acting Director Mick Mulvaney shuts it down.
The high number of home sales both above and below the list price in May, combined with rising mortgage rates and prices, was a sign buyers are near affordability limits, Redfin said.
Though mortgage originations were down overall in the first quarter, home equity lines of credit spiked on higher home prices, according to Attom Data Solutions.
Sales of nonperforming loans by Fannie Mae and Freddie Mac slowed during the past year as the number of delinquent loans on their books continued to drop.
After declining for two straight weeks, mortgage rates reversed direction this week and rose to their second highest level this year, according to Freddie Mac.
