Down payments

Renters will need to reserve an additional $369 per month to keep up with rising listing prices over the next year, according to Zillow.

Refinancings more than doubled the year-ago amount and made up for the slowed purchase activity, according to Attom Data Solutions.

Even in the best-case scenario, it would take 45 years to achieve an equal amount of housing-related capital between Blacks and whites.

The draft of the Downpayment Toward Equity Act of 2021 calls for grants for a limited segment of the market: those whose parents don't own homes.

The SmartBuy program, offered by the Illinois Housing Development Authority, has drawn interest from out-of-state buyers too.

But private mortgage insurers should not see significant impact on business if a 25 basis point reduction were to occur sometime after 2021, according to BTIG.

The $10 million program appears to be the first of its kind in the nation.

The Military Urban Development Initiative, which is also open to civilians, allows buyers to select a lot, house design and mortgage.

Apart from saving more money, millennials prefer to spend their savings on a home down payment, Zonda economist Ali Wolf said.

The credit could cover the minimum down payment for the average Federal Housing Administration-insured mortgage in most large metropolitan areas.