Foreclosure rates climbed across the country in July, a sign that high home costs may be starting to catch up with homeowners. Lenders and banks moved to foreclose on 36,128 homes nationwide in July, an 11% increase from last month and a 13% increase from the same time last year. One out of every 3,939 […]
Foreclosures tick up as home costs weigh heavy on borrowers Read More »
The Federal Housing Association is likely to continue to take market share away from the private mortgage insurers for the foreseeable future, a Keefe, Bruyette & Woods report said. Insurance-in-force for all forms of mortgage insurance grew by 1.3% between the first and second quarters and by 5.5% year-over-year, the report from Bose George and
FHA poised to outpace private mortgage insurers Read More »
Young homebuyers are taking the adage “marry the house, date the rate” to heart, but that could set them up for potential problems in the future, a new report warns. Nearly two-thirds of millennial and Gen Z homebuyers said it was “important” or “extremely important” that they be able to refinance their homes in the
Young buyers’ risky refi gamble: A looming problem? Read More »
While more economists surveyed in August by Wolters Kluwer expect the Federal Open Market Committee to cut short-term rates at its September meeting than the previous month, a significant share still thinks action won’t come until December or later. The percentage of the participants in the Blue Chip Economic Indicators panel believing the next Fed
Economists now leaning towards September Fed cut Read More »
Private mortgage insurers wrote just 2% more new business on a year-over-year basis in the second quarter, but market share shifts widened the spread between the six underwriters. The industry-wide market share gap was 1.7 percentage points for both the second quarter 2024 and first quarter of 2025, according to data from Keefe, Bruyette &
Private MI market share gaps widen in Q2 Read More »
The national property tax delinquency rate accelerated last year, with data indicating potential emerging financial strain among some segments of mortgage borrowers. The share of property tax delinquencies across the U.S. increased to 5.1% in 2024, rising from 4.5% one year earlier, according to a new report from real estate data provider Cotality. The research
More homeowners struggle to keep up with property taxes Read More »
Although GAAP profitability continues to elude Opendoor Technologies, the company reported a positive result under one non-GAAP measure, its first in three years. The company, which facilitates cash offers for real estate buyers, cut its net loss from the previous year by 68%, but guidance going forward was less encouraging. These results were announced after
Opendoor reduces losses by 68% in the second quarter Read More »
Fannie Mae and Freddie Mac’s regulator announced additional leeway for them to invest more heavily in low-income housing tax credits in line with the passage of recent legislation. Each can now invest up to $2 billion for a total of $4 billion per year, twice the previous limit, according to a press release from U.S.
Fannie Mae and Freddie Mac’s regulator raising LIHTC limits Read More »
With home prices climbing and mortgage rates keeping owners locked in place, Americans are sitting on a record $34.5 trillion in home equity and lenders are eager to cash in. The $34.5T in equity marks a $600 billion increase from last year. The total equity Americans have in their homes is up $4.7 trillion from
Home equity surges and lenders smell opportunity Read More »
Homebuyers got some relief last month as they found themselves with slightly lower mortgage payments. The Mortgage Bankers Association’s Purchase Applications Payment Index fell 1.8% month-to-month, an indication that borrowers are finding their mortgages more affordable. The index measures borrower affordability by looking at new monthly mortgage payments relative to income; a decline signifies that
Average mortgage payment dips, easing buyer strain Read More »