Delinquencies fell for the thirteen consecutive month in April, down 1.8% YOY and unchanged from the month prior, according to CoreLogic’s latest Loan Performance Insights Report. Only 2.9% of mortgages across the nation were in some stage of delinquency in April. Serious delinquencies, those which are 90 days or more past due, have seen the…
By CHUCK GREEN The President recently released a Housing Supply Action Plan designed to pull back the throttle on the challenges of housing costs over time by increasing the inventory of quality housing in every community. The plan bills itself as the most comprehensive effort to close the housing supply shortfall in history. It includes…
The national median payment applied for by homebuyers rose 8.8% to $1,889 in April, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). PAPI measures changes in monthly mortgage payments relative to income across time. An increase shows the payment to income ratio is up due to increasing application loan amounts or…
Americans reported their highest level of financial well-being since 2013 in the Federal Reserve Board’s Economic Well-Being of U.S. Households in 2021 report. The data comes from the Board’s 9th annual Survey of Household Economics and Decisionmaking (SHED), which was conducted in October and November 2021. “The SHED results provide valuable insight into Americans’ financial conditions during…
Builder confidence fell eight points in May, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The HMI registered a reading of 69 in May, a significant drop from April. This is the fifth consecutive month of decline and the lowest reading since June 2020. The low reading suggests that…
Fannie Mae has committed $5 million to its second annual Sustainable Communities Innovation Challenge (IC22), the GSE announced. The challenge seeks to “attract innovative ideas that will help advance racial equity in housing,” according to the press release. Fannie Mae will receive proposals from the public, private, and non-profit sectors, as well as from individuals…
The Fannie Mae Home Price Index (FNM-HPI) rose to its fastest annual pace ever on record in Q1 2022, measuring 20% YOY, the company reported. This is up from an annualized rate of 19.1% in Q4 2021, the fastest pace in the index’s 47-year history. Seasonally adjusted home prices rose 4.8% from last quarter. The…
Home sales dropped by 4% last month and 8% YOY, closing out a fast-paced March with signs of a potential cooldown, Redfin reported. Homes sold at their fastest pace ever and for more above list price than any other March in history. The median home-sale price rose 6.2% to $412,700, a record high and the…
By KIMBERLEY HAAS Officials at the U.S. Department of Housing and Urban Development are making an additional $3,285,353 in American Rescue Plan funding available to help fight housing discrimination related to the COVID-19 pandemic. The announcement was made on Tuesday and according to a press release, this is the third round of American Rescue Plan…
By KIMBERLEY HAAS Officials at the U.S. Department of Justice are claiming that condominiums and apartment complexes in Hawaii were built without accessible features required by the Fair Housing Act. The federal act prohibits discrimination in housing on the basis of disability, race, color, religion, sex, familial status, and national origin. An amended complaint was…
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