First American: Real home prices post record year-over-year jump

The Real House Price Index (RHPI) maintained by First American Financial Corp. rose 32.5% year over year in March, marking the largest annualized jump for this metric since it was established more than 30 years ago. The index tracks home prices and adjusts them for the impacts of income levels and interest rate changes on […]

Set to Surge

Expect a home equity lending boom as interest rates rise while home prices grow

Buyers of distressed homes are bullish despite troubling signs

As dark clouds gather on the horizon of the housing market, foreclosure-auction buyers remain bullish. Sixty-one percent of foreclosed properties on the platform in first-quarter 2022 were sold to third-party buyers, up from 56% in the previous quarter and up from 59% in first-quarter 2021. The 61% sales rate was the second-highest quarterly sales […]

New rental-payment history initiatives show promising results

If someone can pay their rent month after month, why can’t they make a mortgage payment? For years, most renters didn’t get credit for timely rental payments. Last year, however, two of the government-sponsored enterprises (GSEs) did something about it. Fannie Mae launched a program in September 2021 to identify recurring rent payments in a […]

Refi decline sets the tone for origination business

In fourth-quarter 2021, 3.27 million mortgages secured by residential property (one- to four-unit homes) were originated in the U.S., an 11% decline from the previous quarter and a 13% decrease compared to fourth-quarter 2020. This marked the third straight quarter of declining originations, while the year-over-year decrease was the largest since late 2018, according to […]