Private mortgage insurers gained share in the primary MI market in the first quarter of 2022, helped by purchase-mortgage activity. VA loans accounted for the majority of refis with primary MI during the period. (Includes two data charts.)
Home prices have come untethered from rent, which could be a sign of “irrational exuberance,” according to economists from the Federal Reserve Bank of Dallas.
The lack of purchase-mortgage lending activity in Detroit contributes to low home values, deteriorating housing stock and high rates of residential property vacancies, according to a new study from Detroit Future City.
The reason: Single female borrowers are generally less affluent than single male borrowers, have lower incomes and take out smaller loans, according to researchers at the Urban Institute.
Analysts at Fannie Mae looked at 14 components that go into the cost of purchasing a home, along with ongoing expenses. Costs related to the mortgage accounted for roughly 30% of the overall cost.
Soaring home values boosted the national average equity stake in a mortgaged residential home to $185,000 at the end of 2021. The year-over-year gain: $48,000.
Potential first-time homebuyers are facing affordability issues due to elevated home price appreciation. And though home price appreciation is slowing, interest rates are set to rise.
Financial technology lender SoFi is set to acquire a bank; United Wholesale Mortgage will cover appraisal costs on purchase mortgages through the end of March; mortgage tech companies raise capital; CoreLogic offers new fraud-detection service; low-code marketplace launched.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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