Housing affordability

Mortgage trade groups responded to the executive order by proposing potential solutions such as having the FHA cut the mortgage insurance premium and reining in third-party service providers.

The latest plans include details on promoting housing development in underserved areas and increasing secondary market access to rural institutions.

The median monthly payment amount for new purchases moved higher for the first time in six months, according to the Mortgage Bankers Association.

The rezoning plan, known as City of Yes for Housing Opportunity, passed a key City Council subcommittee hurdle Thursday after the vote was delayed more than six hours while council members tweaked controversial aspects of the deal.

The study found nonbank lenders charging the highest interest rates and most points, and fintech pricing more in-line with depositories.

The average home buyer spends almost $32,000 in home-buying expenses, a report by Clever Real Estate claims.

The amount of income needed to make monthly mortgage payments are declining and approaching a key affordability benchmark, the National Association of Realtors found.

Over the next decade, the housing market will have excess demand of 25 million units even as the baby boomer generation ages and dies, the Mortgage Bankers Association said.

The next administration should look for areas in title insurance, homeowners' insurance, and appraisals to pass savings back to homebuyers which could translate into homebuying power for those on the brink of accomplishing their goals, writes Vishal Garg.

Government lending leaders also addressed efforts to increase housing stock and affordability in a discussion at the Mortgage Bankers Association's annual conference.

Hispanic-owned houses are worth 11.9% less than those owned by non-Hispanic White households, compared with 12.4% in December 2021, a recent high in the gap, Zillow said in a blog post

While people are talking about supply, the former National Association of Realtors exec adds more attention must also be given to home insurance affordability.

Despite rising consumer confidence in the housing market, declining mortgage rates, alone, don't seem to be able to lure home buyers in, two new reports find.

The bank just added an additional $6 million to a program that pays for a 2 percentage point buydown in the mortgage rate for eligible borrowers.

Some recipients of the new multimillion-dollar funding announced this week include several organizations partnering with historically Black colleges and universities.

Affordability improved for a fourth straight month, but questions remain about whether recent trends will bring a significant number of buyers into the housing market.

Sen. Tim Scott's housing bill calls for Congress to play more of a role in reviewing public intervention in housing while reforming or expanding certain programs.

Asked about inflation risks ahead, she pointed to the impact of housing on the consumer price index, describing it as the "stickiest piece." Stripping out housing, the U.S. consumer price index is only rising about 1.8%, she said.

Subsidies for first-time homebuyers, such as the one proposed by Democratic Presidential nominee Kamala Harris, will only stoke demand and exacerbate the crisis, writes the chairman of Whalen Global Advisors.

The average payment fell to $2,140 from $2,167 in June, according to the Mortgage Bankers Association.