A flood of foreclosure starts and repossessions upended many Americans’ lives in Q1 as increasing economic pressures strains homeowners. A total of 93,953 properties had foreclosure filings (which include default notices, scheduled auctions, and bank repossessions) in Q1 2025, up 11% from the previous quarter, according to ATTOM. That figure is actually down 2% YOY,…
More than a third of homeowners never plan to sell their house, citing the high cost of buying a new home as a major reason to stay put. That’s according to a new survey by Redfin. Respondents were overwhelmingly down on the idea of moving, with 34% saying they would never sell. An additional 27%…
Nearly half of mortgaged homeowners are equity-rich again as home prices soared in the second quarter of 2024. New data from ATTOM found that 49.2% of mortgaged residential properties were considered equity-rich in Q2, up from 45.8% in Q1. This matches a record high from the spring of 2023 and is the first increase after…
High rates and soaring prices are preventing many Americans from achieving the dream of homeownership, but current homeowners are optimistic about the housing market. TD Bank surveyed nearly 2,000 homeowners across the nation and found that a majority (67%) think buying a home is still attainable, while 38% plan to buy a new house in…
PrimeLending introduced a new home equity loan product that allows Americans to combat inflation and high credit card debt with the value stored in their homes. Borrowers can convert home equity into cash, which they can use for anything, including managing finances, covering expenses, and consolidating high-interest debt. Homeowners can access a portion of their…
Average mortgage rates dipped below 7% last week, giving buyers some breathing room as they navigate a high-priced housing market. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.94%, down from the week prior’s 7.02%. A year ago at this time, the 30-year FRM averaged 6.57%. The 15-year also fell, down…
More mortgages are being taken out by Millennial and Gen Z buyers than their older counterparts, a trend boosted by Zoomers’ thirst for homeownership. A new analysis from Redfin found that two in five — just shy of 40% — of new mortgages issued in 2023 went to homebuyers under 35, while an additional 26.5%…
Mortgage applications rose slightly last week, buoyed by a refi turnaround even as purchase demand faltered. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — rose by 0.5%, adding to last week’s 2.6% increase. Adjusted purchase applications declined, however, by 2%, while…
Foreclosures increased nationwide in Q1 2024 as mounting affordability pressures push homeowners into situations where they are unable to pay their mortgages. According to ATTOM’s latest Foreclosure Market Report, a total of 95,349 U.S. properties had foreclosure filings during the first quarter. This is up 3% from Q4 2023, but down under 1% YOY. “Q1…
Inventory is doing best in cities with fewer mortgages and older homeowners, reinforcing the impact of high interest rates on the market. That’s according to a new report from Zillow, which found that metros where more homes are owned outright are seeing the fastest growth in new listings. Pittsburgh, Buffalo, and Cleveland have the highest…
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