Housing markets

A trio of Federal Home Loan Banks this week publicized endeavors related to their affordable housing mission shortly after their regulator put out a request for input on that topic.

A growing number of states are tackling affordability struggles for middle-income renters, who have experienced the fastest increases in cost burdens over the past 20 years.

Declining refinance activity offset the growth in government-backed purchases, the Mortgage Bankers Association said.

Financial security is a concern for 31% respondents who said they feel less well-off than their parents or grandparents, a Nationwide survey found.

More than 50% of aspiring buyers expect their next purchase will cost less than the latest median value, according to the National Association of Home Builders.

The bank acquired these business purpose non-qualified mortgage loans originated by Civic Financial Services in the PacWest Bancorp deal.

June housing market data from Redfin found home prices hit a new all-time high. Fortunately, monthly mortgage payments decreased and new listings were up 10%.

Ongoing challenges from limited inventory levels and elevated prices likely spells little lending momentum this summer, Mortgage Capital Trading said in its latest report.

The overall Bureau of Labor Statistics number was a tad higher than expected but other indicators point to economic weakness that could lower mortgage rates.

The rate at which Gen Z is charting a new course by teaming up with people who aren't related or romantic partners is soaring as homeownership hurdles rise.

Major homeownership expenses now account for 35% of the average American's wages as housing market challenges continue, according to Attom.

Despite a slow return of housing inventory, purchase application numbers dipped in a week where interest rates finished higher, the Mortgage Bankers Association said.

Year-over-year home price growth was at its slowest pace since October, Corelogic's Home Price Index report said.

Buyers can expect a quiet market moving into July. Despite an uptick in new listings, a report on data from June said contract volume is still behind historical norms.

Lennar's ratings were cut by analysts at both Citigroup and Raymond James, while the former also dropped their views on D.R. Horton.

Home sales with mortgages rose from a year ago by a larger percentage, 15.1%, than those conducted in cash, which increased 10.6%.

Nearly one-quarter of borrowers now have a rate above 5% as households in this category grow and the number with rock-bottom financing costs slowly recedes.

However, a significant minority, more than one-in-10, stated although they want to buy, they will never be able to afford to do so, Insurify found.

Even with rising premiums, the disincentive is not enough to drive homeowners away from risky areas, said the chairman of Swiss Re.

The core personal consumption expenditures price index, which strips out food and energy, increased 0.1% from the prior month, the smallest in six months.