Housing Markets News from National Mortgage News

Given current rates are higher than the MBA and Fannie Mae forecasts, the industry could see further downside risk to the housing outlooks in October.

Almost 45% of buyers received a seller concession this summer, while more than 15% saw a reduction in the asking price to go along with it, according to Redfin.

With 55% of homeowners planning to renovate rather than relocate, demand for home improvement capital will be strong even if the purchase market slows further.

Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.

Foreclosure rates were highest in the region, and nationwide, completed repossessions also saw a significant jump, according to Attom.

The market initially showed relief after the initial confirmation of an anticipated inflation-fighting hike but discussion of a future raise renewed concern.

While the early adopters of these market expansions set their new limits at $845,000, Pennymac is going up to $850,000 and UMW to $847,440 for one-unit homes.

It will be a promotion for Jones, currently the deputy assistant secretary for single-family housing at the Department of Housing and Urban Development.

Homebuyers who are preapproved have the best opportunity to take advantage of fall discounts, giving lenders an opportunity to roll out marketing around this.

Sellers are easing demands as rates hit 15-month highs, giving buyers leverage. Originators: target sideline buyers before next week's Fed hike lifts rates further.

From higher immediate pricing to long-term impacts on the housing market, originators are assessing what the rise in the 10-year Treasury yield means.

Mega investors, the smallest segment of non-owner occupied single family homebuyers, were responsible for one-quarter of the unit drop in second quarter sales.

The 30-year FRM, as tracked by Freddie Mac, rose to a level last reached in July 2025, helped by the 10-year Treasury briefly topping the 4.8% ceiling.

Merging Fannie Mae and Freddie Mac may not be possible but there is a variation that maintains competition and adds efficiency, according to one shareholder.

With the 10-year Treasury yield hitting a 19-month high, mortgage industry executives are bracing for a tougher-than-usual end of year.

Besides the opportunities in build-to-rent housing for mortgage originators, credit profile of single-family rental loans should improve, Morningstar DBRS said.

Fed Chair Kevin Warsh's much anticipated speech at the Jackson Hole meeting reinforced past comments about reducing communications around forward guidance.

Vacancy numbers leveled off this quarter, but the share among units owned by institutional investors is more than double the overall national rate, Attom said.

Lower median loan amounts and earnings growth which outpaces mortgage expenditures helps to improve affordability even as rates continue to rise, the MBA said.

If Fed Chair Kevin Warsh's comments lack substance on inflation in the market's opinion, it is likely to drive mortgage rates even higher, NerdWallet warned.