Mortgage rates shoot up to highest level since Great Recession
Rates increase again, a sign that inflation continues to take a toll on the housing market
Source: mpamag.com
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Black Knight: Home Affordability Hits New 35-Year Low
With the average rate for a 30-year fixed mortgage rising to 5.89% this week, the highest level since 2008, home affordability has fallen to a new 35-year low, Black Knight Inc. said Thursday. The mortgage technology and data provider said the latest increase in rates has wide implications for the housing market.
Source: nationalmortgageprofessional.com
Rocket Pro TPO to offer home equity loan products
Rocket Pro TPO will be offering home equity loans to brokers in mid-September amid increased competition in the wholesale channel.
Source: housingwire.com
Housing Market At 'An Inflection Point'
For the first time in 32 months, home prices posted a month-over-month decline in July, marking what one analyst considers an “inflection point” for the nation’s housing market.
Source: nationalmortgageprofessional.com
After Hot Summer, Home Prices Fall for First Time in Three Years
Meanwhile, per CNN, new home sales were found to have declined 12.6 percent in July primarily due to affordability factors, according to a joint report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau
Source: nationalinterest.org