The average starter home in the United States sold for a record high last month, yet sales notably increased. The average price of a starter home rose 2.2% from last August to $206,508, while starter-home sales increased 3.8% year over year, according to a new report from Redfin, a subsidiary of Rocket Cos. August marked […]
Starter home sales climb despite record-high prices Read More »
Home buyers saw hints of easing affordability throughout the summer, as mortgage payment levels dropped month to month, but prices and inventory still prove to be formidable obstacles. The median payment on new mortgage applications in August came in at $2,100, a 1.3% decrease from July. August’s number still clocked in 2.1% higher compared with
Mortgage payment levels see fourth straight monthly drop Read More »
Treasury Secretary Scott Bessent said the Trump administration may declare a national housing emergency this fall as the White House looks to highlight key issues for midterm campaign voters. “We’re trying to figure out what we can do, and we don’t want to step into the business of states, counties, and municipal governments,” Bessent told
Trump weighs declaring national housing emergency, Bessent says Read More »
The evolving housing market has brought modular and container homes to the forefront as innovative solutions to various challenges. With their unique features, these housing types offer promising opportunities and come with notable risks. For lenders, understanding both the good and bad of modular and container homes in the housing market is important for future
Modular and container homes: The good and bad for lenders Read More »
New American Funding announced the launch of an insurance affiliate, which will offer homeownership coverage, alongside a range of other protections. In a deal with insurance distribution firm The Baldwin Group, New American will sell primary property coverage in addition to products to guard homeowners against flood and wind damage. The affiliate, named NAF Insurance
New American launches insurance marketplace Read More »
Over 40% of millennial and Gen Z homeowners claim they struggle to afford their regular housing payments, a substantial number but less than the 70% who are saying the same about their rent, a Redfin survey found. In May, a survey conducted by Ipsos for the real estate company had over 4,000 homeowners and renter
Gen Z, millennials struggle with housing costs Read More »
President Trump’s One Big Beautiful Bill is a milestone on the path of America’s Golden Age. It will help restore prosperity and stability to millions of households by providing crucial tax relief—including bringing back an impactful tax deduction for mortgage insurance premiums (MIPs). From 2007-2021, four million homeowners used the MIP deduction annually. In the years that
How Trump’s bill helps aspiring homeowners Read More »
Consumer housing confidence improved slightly in July, with Americans feeling more confident about the economy even as many worry about whether they can buy a house themselves. Fannie Mae’s Home Purchase Sentiment Index rose in July to 71.8, two points higher than June. That’s close to where it was a year ago and right in
Buyers are gloomy. Here’s what they might be missing Read More »
Bilt Rewards, the platform best known for doling out rewards points for rent payments, more than tripled its valuation to $10.8 billion in a fresh funding round as it seeks to do the same for mortgages. The firm is also ending its relationship with Wells Fargo & Co., according to a letter to customers that
UWM backs Bilt as rent rewards expand to mortgages Read More »
Panorama Mortgage Group, parent company of several lenders focused on affordable homeownership, announced the launch of a new mission-driven wholesale and corresponding lender aimed at making funding available to first-time buyers. The Las Vegas-based company unveiled Travisa Financial, which it created in response to what it saw as a demand for partnerships among many third-party
New Panorama TPO targets first-time buyer lending Read More »