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.