Origination

Depending on the down payment, borrowers could see a .15% to .30% decrease

Sales of new U.S. homes increased in January by more than expected to the highest level in nearly a year, fueled entirely by purchases in the South, indicating some stabilization in the housing market after a brutal year.

The company said it expects to accelerate its timeline for selling through money-losing inventory, as the data-driven home-flipper looks to move on from a tumultuous year.

Buyer affordability has decreased by almost 22% in the past year, according to the Mortgage Bankers Association.

The total price of U.S. homes was $45.3 trillion at the end of 2022, down from a record high of $47.7 trillion in June, according to Redfin's report.

Persistent inflation concerns drove the 30-year average up 41 basis points this month.

The deal would put housing data provided by the acquiring intelligence provider in front of lenders early in the mortgage borrowing process.

The company also disclosed a 50% decrease in single-family workouts at the end of the year, compared to the same period in 2021.

Lenders are seeking to capture homeowner interest amid higher living costs, but home values have collectively fallen from their record-high last summer.

The cut reverts the mortgage insurance requirement to pre-financial crisis levels.