Rising Property Taxes Add To Financial Stress For Homeowners

Rising Property Taxes Add To Financial Stress For Homeowners

Property taxes are on the rise, another source of financial stress for Americans. According to new data released by ATTOM Data, total property taxes on single-family homes across the United States increased by 4% in 2022, totaling $340 billion.  This marks a significant increase from the previous year, with the average property tax bill for…

Real House Prices Up 10.5% In September, But Many Markets Are Cooling

Real House Prices Up 10.5% In September, But Many Markets Are Cooling

Real house prices jumped 10.5% in September and logged a 60.6% YOY increase, according to First American’s Real House Price Index. As a result, consumer buying power, or how much a person can buy based on changes in income and interest rates, fell by 8.9% month-over-month and 29.3% YOY. The significant dip in affordability measured…

Equity Down $1.3T From Q2, Largest Quarterly Dollar Drop On Record

Equity Down $1.3T From Q2, Largest Quarterly Dollar Drop On Record

Homeowner equity saw a contraction in Q3 2022 as dropping prices are finally taking their toll, according to Black Knight’s latest Mortgage Monitor Report. Home prices are cooling at a slower pace than they have been in the last few months, but the impact of those price drops is catching up to homeowners basking in…

Homeowner Equity Grew In Q3 Despite Cooling Market

Homeowner Equity Grew In Q3 Despite Cooling Market

Even as the housing market is rapidly cooling, homeowner equity rose again in Q3, according to ATTOM Data’s Q3 2022 Home Equity & Underwater Report. The report found that 48.5% of mortgaged residential properties were considered equity-rich, up from 48.1% in Q2 and from 39.5% a year earlier. This is a slower increase than previous…

Dwindling Refis Eclipsed Rising HELOC, Purchase Lending In Q2 2022

Dwindling Refis Eclipsed Rising HELOC, Purchase Lending In Q2 2022

Refinance lending fell 36% from Q1 to Q2 2022, eclipsing increases in other lending areas, according to ATTOM’s second-quarter 2022 U.S. Residential Property Mortgage Origination Report. The report found that 2.39 million mortgages secured by residential property were originated in Q2 2022, down 13% from Q1 and 40% YOY. This is the fifth consecutive quarter…

Half Of Mortgaged Homes Are Equity-Rich

Half Of Mortgaged Homes Are Equity-Rich

Nearly half of mortgaged homes in the U.S. were equity-rich in Q2, with the most equity gains concentrated in the South, according to ATTOM’s Q2 2022 U.S. Home Equity & Underwater Report. The report found that 48.1% of mortgaged residential properties had an estimated worth that topped their loan balances by 50% or more. That’s…

Delinquencies Reach Another Record Low
|

Delinquencies Reach Another Record Low

Delinquencies dropped to another record low in March, with only 2.7% of all mortgages in the U.S. experiencing some stage of delinquency, according to CoreLogic’s monthly Loan Performance Insights Report. Delinquencies were down 2.2 percentage points from March 2021, when they were at 4.9%. The share of early-stage delinquencies, or loans 30 to 59 days…

Morning Roundup (6/6/2022) – 40-Year Mortgages, Another Equity High

Morning Roundup (6/6/2022) – 40-Year Mortgages, Another Equity High

Good Morning! Today is Monday, June 6. Russian missiles struck Kyiv, the first attack on the capital in more than a month. A street brawl in Philadelphia this weekend turned into a mass shooting, killing three people. Rafael Nadal beat Casper Ruud in the men’s French Open final. The Mortgage Note Reports 40-Year Mortgages Making A Comeback? Writer Scott Kimbler…

Home Equity Reaches Another All-Time High

Home Equity Reaches Another All-Time High

Home prices have risen 42% since the beginning of the pandemic and have gained 9% in value since the first of the year, with equity reaching another all-time high, according to Black Knight’s latest Mortgage Monitor Report. Black Knight reported that the annual rate of appreciation dropped slightly to 19.9% in April, down from an…

End of content

End of content