First time home buyers

The bottom five metropolitan areas have an average share of mortgage purchase requests from Gen Z homebuyers of 9.29%.

Home-purchase applications fell to the lowest level in a generation last week — and demand may be depressed even further when the pandemic-era freeze on student debt ends in October, according to a poll conducted by Pulsenomics LLC among more than 100 housing experts. 

Millennials make up the biggest chunk of the pie, representing 49%, while Gen Z represented 27% of all first-time borrowers this year, a Zillow report said.

Houses in the northeast and midwest got more expensive. In the South and the west, prices dwindled, according to the organization's Metropolitan Median Area Prices and Affordability report.

The decision from the Federal Housing Finance Agency to allow lenders to review only two credit reports for mortgage applicants will harm homebuyers with less than perfect credit, writes the founder and CEO of Financial Services Innovation Coalition and a certified general appraiser at the Dawson Valuation Group.

The bottom five metros have an average five-year median home value appreciation of 35.46%.

The top five metros have an average five-year median home value appreciation of 48.49%.

This generation is more capable of increasing homeownership rates than any others over the past several decades, argues dv01's head of research.

Americans are so desperate to break free from credit card, mortgage and auto loan debt that they'd resort to dangerous deeds, a survey by Beyond Finance found.

The Home Loan banks are failing to serve huge numbers of Americans because of their reliance on outdated credit scoring models.

After falling to a 10-year low in April, credit on the market diminished further last month, with government, conforming and jumbo offerings all decreasing, according to the Mortgage Bankers Association.

The bill would update mortgage revenue bonds and credit certificates, which are both administered by housing finance agencies.

Manufactured units, down payment assistance and bond investments could help alleviate some of the issues facing aspiring homeowners, but inventory issues will persist, a panel of experts said.

Recent efforts to open up homeownership opportunities include a proposed $100 million down-payment-assistance initiative within the Biden Administration's 2024 federal budget request.

Less than one-third of households would be able to afford 2022's median-priced new home, according to the National Association of Homebuilders.

The CFPB is requesting input on adding specifications that are intended to alleviate TRID compliance concerns on construction-to-permanent single-close loans and those requiring separate construction and home loan closings.

A series of recent studies offer a view into the dynamics that will impact home sales in 2023.

Special purpose credit programs, down payment assistance and potential mortgage insurance premium cuts came into focus over the past year.

Eligible borrowers in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia can apply.

We should use the extra time we have to increase our focus on helping people wherever they are in the housing journey, writes the Executive Vice President of Corporate Strategy at Clear Capital.