First time home buyers

The legislation is aimed at loosening regulation of new-home construction in the Grand Canyon State, where median prices have shot up by 59% since 2020.

Harrisburg, Pennsylvania, is the top housing market for first-time homebuyers, having a median home price of $140,000 between November 2023 and November 2024.

Mortgage companies are looking for ways to open up credit to more borrowers, but insurance-cost spikes have made a difficult situation more challenging.

San Jose, California, is the most expensive city with a median home price of $1,528,500, while Detroit is the least, with a median home price of $192,000.

Figure Technology Solutions introduced a "piggyback" home equity line of credit platform for its lending partners.

writes the Senior Economist for LendingTree

Some recipients of the new multimillion-dollar funding announced this week include several organizations partnering with historically Black colleges and universities.

While the lock-in effect on existing supply has helped drive consumer interest in new construction, first-time buyers have been taking a greater share of that inventory.

The government will also begin allowing mortgage default insurance on homes worth up to C$1.5 million ($1.1 million), an increase from the current cap of C$1 million.

The credit scoring agency will provide an education curriculum to a leading minority trade group, aimed at helping mortgage professionals learn more about financial wellness and help their potential clients attain homeownership.