Homebuyers are leaving large metro areas and seeking a more affordable cost of living in Phoenix, Miami, and Las Vegas.
Mortgage demand fell to a 25-year low last week, as unrelenting inflation and high interest rates cool demand.
The worst may have yet to come as new and existing home sales are plunging, and homeowners see no reason to refinance loans at higher mortgage rates.
The increases in refinancing and purchasing mortgage options is a good sign that the Fed's interest rate hikes are working, but some warn that will not last.
Home sales increased for the second consecutive month in July as demand remains high for homes.
Jacob Milton, 55, could walk away with $12.5 million from the same people he stole $1 million from over a decade ago after he convinced a Manhattan jury that the victims were to blame for his criminal conviction.
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Low rates have buoyed the housing markets in the U.S., as the world navigates through the COVID-19 pandemic.
New mortgages fell by 2% last week, but refinance applications grew by 0.2% as homeowners scramble to get the cheapest possible interest rates.
Generation X – those between the ages of 40 and 55 – have the highest debt load.
Victims of real estate wire fraud have already lost $220 million this year
The average FICO credit score reached 711 in July, the highest since scores were first tracked in 2005
High home prices prompted by rising demand and punctured supply is pricing out prospective homebuyers, which is proving beneficial for the rental industry in the United States.
One of the reasons for the decrease in demand for home loans may be the limitations lenders face in dealing with the volume of business coming their way.
Freddie Mac said that the 30-year fixed-rate mortgage has fallen to an average of 2.86%, the lowest rate in history dating back to 1971.
Lenders issued $1.1 trillion in home loans in the second quarter, a record.
The rate is the lowest in 50 years.
The UK building society plans to begin making 90% loans beginning July 20 to boost housing market.
Most American apartment households (80%) were able to pay their rents for May.
Only 40% of those queried said they had asked their lenders for help.
Industry experts say there could be chaos in six months when Americans are looking to restart mortgage payments.
The housing sector is facing uncertainties this year and next because of the market conditions caused by the coronavirus pandemic. Home sales could slump as much as 15%, some estimates show.
Millions of American households have fallen behind on their mortgage payments
U.K. mortgage market has been severely crimped by the coronavirus impact
A lawsuit filed by two former lobbyists revealed a secret plan to buy Freddie Mac from government control hatched between 2016 and 2018.