Demographics

Black borrowers locked in an average mortgage rate of 4.44% for conventional loans — 15 basis points higher than white borrowers, according to an analysis of HMDA data by the National Association of Real Estate Brokers.

But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.

Millennials continue to lock in the lowest average mortgage rates on record, keeping lenders busy and the housing market churning, according to Ellie Mae.

Diversity initiatives for home appraisers would cut down the racism and bias within the valuation process.

Whether low rates will continue to outweigh health and employment concerns for millennials and Generation Z remains to be seen.

From an increased interest in outdoor space to a need for a dedicated home office, the pandemic has created new drivers for refinancing, moving and other housing decisions, TD Bank found.

More than half of listings underwent bidding wars in August with some housing markets peaking above 65%, according to Redfin.

Millennials locked in the lowest mortgage rates on record and kept the summer housing market hot, according to Ellie Mae.

Driven by robust purchase demand and tight housing supply, housing price growth reached a two-year high in July, according to CoreLogic.

Treasurer Ma has championed programs to give minority and women-owned businesses a seat at the table throughout her career. A mission of the Treasurer is increasing diversity to increase equitable outcomes.

Despite a housing market that has remained solid during the COVID-19 outbreak, the hesitancy of potential sellers is contributing to one of the most acute shortages of available homes in decades.

About 54% of properties underwent bidding wars in July with some metro areas peaking at 75%, according to Redfin.

While Black homeownership just rose to its highest level in 16 years, it's still the lowest of any racial demographic and 29 percentage points behind white people.

An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.

With over 4 million millennials entering prime home buying age each year through 2023, purchase activity will be driven much higher, according to Ellie Mae.

Housing prices continued to grow in June, maintaining a streak in monthly increases that began in February 2012. But the trend could be reversed in 2021 with the resurgent effects of the coronavirus, according to CoreLogic.

Black homeownership grew for the fourth quarter in a row, hitting its largest percentage since 2004 despite disproportionate impacts of the coronavirus.

Down payment assistance programs remain an important tool for increasing minority homeownership, but especially more so because of the pandemic.

As the country wrestles economic volatility, millennial homeownership demand rises, fueled by historically low mortgage rates.

How the mortgage and housing industries react to the current civil rights moment could shape policies and bridge the homeownership divide for the Black community.