By ERIN FLYNN JAY As artificial intelligence plays an increasingly important role in the mortgage business, industry leaders are figuring out ways to harness its power to revolutionize homebuying. Dan Weisman, director of innovation strategy at the National Association of Realtors, said AI brings enhanced automation, efficiency, and transparency to the process. People who can…
By KIMBERLEY HAAS A lack of inventory continues to put pressure on the housing market but there are some potential sources out there. During a mid-year outlook webinar held on Thursday afternoon, Todd Teta, chief product and technology officer for ATTOM, and Mike Simonsen, founder and president of Altos Research, spoke about the low supply…
Mortgage loan application volume reversed course after five straight weeks of decreases, rising 6.6% last week, the Mortgage Bankers Association’s (MBA) weekly survey shows. The adjusted Market Composite Index, a measure of mortgage loan application volume, increased by 6.6%. The adjusted purchase index rose 8%, while the unadjusted purchase index was up by 18% and…
Fannie Mae’s Home Purchase Sentiment Index (HPSI) fell 2.4 points to 71.8 in January, its lowest level since May 2020, the GSE reported. The full index is down 5.9 points year-over-year. Affordability concerns drove sentiment down, with four of the index’s six components falling month-over-month. Only 25% of respondents said they believed it’s a good…
By KIMBERLEY HAAS A report released this month suggests that despite rising home prices it is more affordable to own a median-priced house than to rent a three-bedroom property in a majority of the United States. ATTOM’s 2022 Rental Affordability Report used fair-market rent data from the U.S. Department of Housing and Urban Development, wage…
America’s home affordability problem was bad in 2020, before COVID-19 hit. In 2021, it got even worse. In Q4 2021, median-priced single-family homes were less affordable in 77% of U.S. counties analyzed by ATTOM Data Solutions, a 13-year high, the company found. In 440 out of the 575 counties analyzed, the gap between incomes and…
Mortgage lending declined in both Q2 and Q3 2021, the first consecutive decline in two years and the first time since 2000 that lending fell in Q2 and Q3, according to ATTOM’s Q3 2021 U.S. Residential Property Mortgage Origination Report. The report showed that 3.59 million mortgages secured by residential property originated in Q3, up…
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