Origination

About 85% of U.S. homeowners have interest rates below 6%, while a little over 50% of homeowners have a rate below 4%, Redfin's report said.

While listings are ticking up, house hunters are still struggling to find affordable properties. But thanks to high mortgage rates, there aren't enough buyers in the market to create the level of competition that would drive prices up more significantly.

Middle-income homeowners are feeling the pressure of rising property prices, but aid efforts from federal agencies are stepping in to create new funding sources and provide additional support.

The interagency Property Appraisal and Valuation Equity initiative, which was tasked by the Biden administration with rooting out bias in home valuations, appears to have run its course. But experts say it could be years before the group's efforts bear fruit.

Lower interest rates could bolster loan demand, credit quality and securities portfolios. But they could also curb lending profitability faster than they ease deposit costs, crimping net interest margins and eating into near-term profits.

The company will fund the discount across the first two years through a special escrow account.

The Federal Reserve Chair's words were enough to send Treasury yields and the dollar lower and stocks higher on Friday as investors perceived a green light to take on risk. 

The firm's Buy Before You Sell product for lenders has tapped over $655 million in homeowner equity in the past 18 months.

The top metro saw a 106.9% increase in value of new residential housing units between Q4 2022 and Q4 2023

Vice President Kamala Harris' pledge to deliver 3 million homes has drawn applause from homebuilders, lenders and affordability advocates, but experts are uncertain how her administration would pull it off.