First time home buyers

With housing affordability still a prominent hurdle to homeownership, prospective buyers — especially millennials — now get creative in order to find suitable homes, according to Chase and the Property Brothers.

The majority of first-time homebuyers participating in a recent survey preferred online or phone interactions when receiving counseling that is a prerequisite for some loan programs.

Millennials took advantage of mortgage rates falling to near three-year lows in August, increasing their refinance share to the highest percentage since December 2015, according to Ellie Mae.

Millennials — now more than ever — dictate the direction the housing market is moving in, and with the deceleration of starter home prices, more should become homeowners soon, according to CoreLogic.

More than half of recent, as well as prospective, first-time homebuyers said purchasing a house was more difficult than it should be, according to a survey for Framework.

The proposed reforms of Fannie Mae and Freddie Mac have gotten all the attention, but the administration also wants to scale back the Federal Housing Administration, expand its capital cushion and adopt risk-based pricing. Some of the ideas have former agency officials concerned.

Sales of previously owned homes rose in August to the highest in more than a year amid lower borrowing costs and sustained income gains, adding to signs the housing market is breaking out of a slump.

Atlanta home prices have been rising for seven years — and lower mortgage rates could fuel a new run-up.

Homeownership creates happiness for Americans through an emotional attachment to their property as well as an improved lifestyle, a survey from Bank of America found.

While millennials took advantage of mortgage rates falling to two-year lows, increasing their refinance share, teaching them about low down payment loan products would help grow homeownership for this group, according to Ellie Mae.