Housing markets

Higher interest rates over the spring applied some downward pressure on prices, which still managed to grow by over 4% in the first five months of the year, according to the S&P CoreLogic Case-Shiller Index.

In the top city, 27.43% of mortgages were offered to Gen Xers.

The credit scoring agency will provide an education curriculum to a leading minority trade group, aimed at helping mortgage professionals learn more about financial wellness and help their potential clients attain homeownership.

Moderating price growth and higher wages are leading to affordability relief, according to the Mortgage Bankers Association.

Government data reports from June, though, point to an inauspicious start for new construction in the current quarter.

Rent growth will see a decrease of 2.7% and the vacancy rate will grow to 6%, Freddie Mac predicts.

Sales of new U.S. homes unexpectedly declined for a second month in June as the mix of stubbornly high mortgage rates and prices deterred prospective buyers. 

While the number of refinances saw a small uptick last week, purchase lending languished as housing costs keep buyers sidelined, the Mortgage Bankers Association said.

A run-up in mortgage rates and a constrained resale market has enabled builders to capitalize on the fractured U.S. housing landscape.

Nearly 56,000 home-purchase agreements were voided in June with the underlying cause likely affordability, a Redfin report claims.