First time home buyers

As more borrowers between 21 and 40 leveraged the historically low mortgage rates in January, the average age rose to a report high, according to ICE Mortgage Technology.

Redfin expects the FTC to be more open to its proposal to buy RentPath than it was to CoStar’s earlier offer, Chief Financial Officer Chris Nielsen said.

The plan is aimed at low- and moderate-income communities, and may enable 60,000 individuals and families to purchase homes, the bank said in a statement Wednesday.

Though the pandemic recession has driven up the delinquency rate on Federal Housing Administration loans, the president's appointees are widely expected to reduce mortgage insurance premiums by at least 25 basis points to make home loans less expensive.

With Americans gobbling up homes in the suburbs, a scarce inventory of properties to purchase has met surging demand to drive up prices.

Investor concerns about a 25 basis point reduction taking business from private insurers might be overblown, but a 50 bp cut could affect an additional 10%-15% of the low down payment market, KBW said.

Housing values are outpacing record-low rates and that’s hurting the entry-level homebuyers, but down payment programs and other traditional measures to assist them may only drive prices to greater heights, according to former Freddie Mac CEO Don Layton.

The head of the Federal Housing Administration said Congress should consider whether to continue allowing the loan floor and ceiling to remain tied to changes in the conforming mortgage limit.

The Federal Housing Administration said in its annual actuarial report that the capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier.

Rick Thornberry discusses the company's third-quarter results and the decision to drop traditional appraisals.