First American Financial Corp.

The potential for home resales rose 1.1% month-to-month as mortgage rates fell, but buyers only became more entrenched as their purchase power increased, according to First American.

Mortgage application fraud risk declined for the second consecutive month in May as housing market dynamics shifted towards the buyers, First American said.

From Seattle to Pittsburgh, here's a look at the 12 best housing markets for homebuyer purchasing power, characterized by a favorable combination of local wages and lower property values and mortgage rates.

People electing to remain in their primary residence for longer periods took more potential home sales out of the market than lower interest rates and higher income brought in, according to First American.

While low interest rates stimulated demand for housing in the first half of the year, affordability problems are holding back the purchase market, a First American survey of real estate professionals said.

Mortgage application fraud risk declined for the first time since last summer because the home sales market became less competitive with an easing of the inventory shortage, First American said.

First American Financial Corp. tumbled the most in nearly eight years amid concerns that a security flaw at the title insurer may have allowed unauthorized access to more than 885 million records related to mortgage deals going back to 2003.

From secondary markets along the East Coast to the heart of the Midwest, here's a look at cities where consumers are losing ground in purchasing power as summer approaches, based on changes in housing values compared to local wages and mortgage rates.

First American Financial may have allowed unauthorized access to more than 885 million records related to mortgage deals going back to 2003, according to a security researcher.

Mortgage application fraud risk came in hot at the start of the year, but two housing market conditions worked against each other to bring growth to a halt, according to First American Financial Corp.