First time home buyers

Sales of previously owned homes rebounded in May to a three-month high as all regions gained amid lower interest rates and a labor market that remains strong.

The pace of sales in the metro Atlanta housing market slowed last month, despite a spring surge in the number of homes listed for sale, according to the Atlanta Realtors Association.

The interpretation by HUD, conveyed in a letter to Congress by Assistant Secretary Len Wolfson, appeared to contradict the agency's earlier comments about borrowers in the Deferred Action for Childhood Arrivals program.

Lower interest rates and slower price growth helped to boost mortgage applications to purchase newly constructed homes during May, the Mortgage Bankers Association said.

Approximately two-thirds of millennial and Gen-Z renters expect to purchase a home in the next five years, although their aspirations for homeownership slipped from a year ago, a Pulsenomics survey found.

The agency’s new guidance would limit some nonprofits’ ability to help borrowers pay their down payments, leading to higher home costs.

Millennial homeowners took advantage of April's drop in mortgage rates by quickly securing refinance loans, which closed faster than purchases for the first time since March 2016, according to Ellie Mae.

Consumers' knowledge of the mortgage process and what it takes to purchase a home has not improved from four years ago and lenders have an opportunity to fill that need, Fannie Mae said.

The rate of annual home price appreciation sped up for the first time in over a year during April, affecting affordability at the low end of the market, according to CoreLogic.

With Sen. Elizabeth Warren's cancellation plan to alleviate student debt, millennials would save up for mortgage down payments three years sooner, according to Redfin.

Investors shouldn't overreact to the first-quarter shift in private mortgage insurer market share, said the CEO of the company that benefited most from the change.

With the starter home inventory shortage pressuring first-time homebuyers to act, four out of five millennial purchasers lament at least one aspect of their mortgage, according to Zillow.

Loan officers need to market their services toward the fact millennials are more likely to become homeowners prior to marriage than baby boomers were, a SunTrust survey found.

In a weak first quarter, housing activity held up better for first-time homebuyers than others, according to a new Genworth Mortgage Insurance report.

Rising prices and a shortage of starter homes hobbled home sales in the Twin Cities last month.

Sales of previously owned homes unexpectedly cooled in April, the fifth drop in six months, signaling a rocky start for the housing market this quarter amid a still-tight supply of available properties.

The era of plentiful refinance volume is over for the foreseeable future, because mortgage rates remained in a very narrow band for the past decade, said Mortgage Bankers Association Chief Economist Mike Fratantoni.

One of the hardest financial parts of buying a new home is coming up with the initial down payment on the mortgage loan.

Not only do Gen-Xers have the home buying power and technological insights and ability, but they also have more decision makers in the mortgage industry than millennials, and thereby possess supply power in the rising demand for e-closings.

Philadelphia officials have expanded a program that will give first-time homebuyers and other eligible city residents up to $10,000 when they purchase a home in the city.