First time home buyers

The interpretation by HUD, conveyed in a letter to Congress by Assistant Secretary Len Wolfson, appeared to contradict the agency's earlier comments about borrowers in the Deferred Action for Childhood Arrivals program.

Lower interest rates and slower price growth helped to boost mortgage applications to purchase newly constructed homes during May, the Mortgage Bankers Association said.

Approximately two-thirds of millennial and Gen-Z renters expect to purchase a home in the next five years, although their aspirations for homeownership slipped from a year ago, a Pulsenomics survey found.

The agency’s new guidance would limit some nonprofits’ ability to help borrowers pay their down payments, leading to higher home costs.

Millennial homeowners took advantage of April's drop in mortgage rates by quickly securing refinance loans, which closed faster than purchases for the first time since March 2016, according to Ellie Mae.

Consumers' knowledge of the mortgage process and what it takes to purchase a home has not improved from four years ago and lenders have an opportunity to fill that need, Fannie Mae said.

The rate of annual home price appreciation sped up for the first time in over a year during April, affecting affordability at the low end of the market, according to CoreLogic.

With Sen. Elizabeth Warren's cancellation plan to alleviate student debt, millennials would save up for mortgage down payments three years sooner, according to Redfin.

Investors shouldn't overreact to the first-quarter shift in private mortgage insurer market share, said the CEO of the company that benefited most from the change.

With the starter home inventory shortage pressuring first-time homebuyers to act, four out of five millennial purchasers lament at least one aspect of their mortgage, according to Zillow.