Purchase

Spiking values for entry-level homes may prevent some first-time homebuyers from entering the housing market this spring, according to Zillow.

D.R. Horton Inc., the largest U.S. homebuilder, reported fiscal second-quarter earnings that beat analysts' estimates as it increased sales amid a tight inventory of properties on the market.

Its results were affected by the costs related to shutting the delinquent loan services business.

Home sellers realized a 17% average gain in price in March, the highest average gain since December 2007, according to RealtyTrac.

The time to close residential mortgage loans continues to drop, falling an average of two days in March from the previous month, Ellie Mae reported.

Total mortgage applications increased last week, due to an increase in refinance applications, according to the Mortgage Bankers Association.

Purchases of previously owned U.S. homes rose more than projected in March, indicating resilience in demand heading into the spring selling season.

Bucking their rent-not-own reputation, millennials are looking forward to buying a home, but many have grossly underestimated just how much they'll need for that all-important down payment.

New-home construction in the U.S. slumped more than projected in March, reflecting a broad-based retreat that showed the industry lost momentum heading into the busiest time of year.

Confidence among U.S. homebuilders was little changed in April, indicating the housing market lacked momentum as the spring selling season got under way.

Purchase mortgage activity, which normally picks up in March and April, is getting an extra boost from an improving economy, the Mortgage Bankers Association reported.

PNC Financial Services said its residential mortgage business lost $13 million in the first quarter due to its servicing portfolio hedging activities and lower loan sales income.

PulteGroup's founder and largest stockholder hired lawyers from a shareholder-activism practice, a sign that he'll increase pressure to get Richard Dugas to step down immediately as the homebuilder's chief executive officer.

Consumers are feeling a growing pessimism about the direction of the economy that appears to be spilling over into the housing market in March, Fannie Mae said.

The majority of first-time homebuyers plan to skip the starter-home step and move straight into the home that would meet their long-term needs, according to the Homebuyer Insights Report from Bank of America.

Third Federal Savings and Loan in Cleveland has long offered mortgage refinancing in New Jersey, Pennsylvania, Maryland, Virginia and North Carolina and now it plans to offer purchase loans in those states.

Richard Dugas plans to retire next year after more than a decade as chief executive officer of U.S. homebuilder PulteGroup Inc., saying the company's founder wants a change.

Fewer lenders eased their credit standards over the previous three months, according to Fannie Mae's Mortgage Lender Sentiment Survey for the first quarter.

While the absolute number of housing markets that are less affordable than their historic norms remains small, there is concern over rising home prices forcing consumers out of the market, according to RealtyTrac.

Eight years after the crash, the housing market still awaits the return of the first-time home buyer. Beyond the struggle to build credit to meet stricter standards, and the difficulty saving for a down payment amid skyrocketing rents and surging student loan burdens, there lies an even simpler explanation: fewer choices.