First time home buyers

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.

It came as a surprise to many housing experts that Asian, Black and Hispanic homeownership rates all jumped last year by more than 2 percentage points, according to quarterly Census Bureau data.

The agency expects one in five borrowers to be eligible for the new pricing benefits.

Close to 60,000 home-purchase agreements were canceled in September

The introduction of utility, cable and telco payment information follows noticeable growth in the past year toward the inclusion of rental history in underwriting.

The high interest rate environment is causing repeat buyers to pull back from the market, creating ample space for entry borrowers to purchase a home.

SPCPs are posed as an equitable housing solution but hesitation and confusion about them is persistent in the mortgage industry, housing finance experts said.

Special-purpose credit programs figure prominently in the recently released equitable housing finance plans of Fannie Mae and Freddie Mac.

FHA loan borrowers' bids may have a better chance of acceptance and these consumers could eventually benefit from student debt forgiveness, but affordability, inventory and performance remain concerns.

The announcement comes as interest in Federal Home Loan bank funding has experienced a resurgence, with advances up 48% in the first six months this year.

The nation's capital leads in live-work-play rental construction while interest rates are pricing out young potential buyers from the market.

The way the Federal Housing Administration is funded and constrained by laws, rules and other operational limitations is analogous to the FHA living in the horse-and-buggy era in an age when we are starting to see driverless cars, writes the executive director of the Community Home Lenders Association.

Lawmakers approved the first $500 million for the program as a trailer bill to the fiscal 2023 budget. Bonds may be used to fill the gap.

Recent data from several organizations further highlights affordability challenges and souring consumer sentiment, while a growing number of economists think the market has peaked.