Home prices continue to rise across the country, despite the market tilting in favor buyers. The national median single-family existing-home price increased 1.7% year over year to $426,800 in the third quarter, the same annual growth rate as the second quarter, an analysis by the National Association of Realtors found. “Home sales have struggled to […]
Home prices trend up despite little seller leverage Read More »
Every day my family rents to people who pay their rent on time, balance their budget and save responsibly. Yet when the time comes for them to buy a home, the traditional credit system does not recognize their financial discipline. According to the 2023 National Association of Realtors report, 65% of Millennials and Generation Z
Why renters deserve a fair credit score Read More »
Homeowners are seeing smaller profits from sales compared to a year ago, but the latest numbers still surpass pre-pandemic levels, as growing numbers hold onto their properties amid surging equity accrual. Sellers gained an average of 49.9% in profit after transactions closed during the third quarter, according to the latest home sales report from real
Homeowners see slimmer profits from third-quarter sales Read More »
Bilt Rewards, best known for offering renters rewards points for paying on time, plans to do the same for mortgages through a partnership with United Wholesale Mortgage LLC, its first tie-up with a home lender. Bilt, which more than tripled its valuation in July to $10.8 billion, will allow homeowners with new or existing mortgages from
Startup that turns rents to rewards points expands to mortgages Read More »
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 »