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1 week ago | 
themortgagepoint.com | Demetria Lester
The most recent Bank of America Homebuyer Insights Report, which was released in conjunction with the Bank of America Institute’s most recent On the move analysis, shows that uncertainty among current homeowners and potential buyers is at a three-year high, with 60% of respondents saying they are unsure whether this is a good time to buy a home or not, up from 48% two years ago.
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1 week ago | 
themortgagepoint.com | Demetria Lester
Redfin recently reported that the four weeks ending May 18 saw an 8.4% year-over-year (YoY) increase in new listings of U.S. homes for sale, reaching their highest level in almost three years. However, buyers aren’t biting: mortgage purchase applications are down 5% week-over-week, and pending sales declined 2.2%, reaching their lowest level for this time of year in Redfin’s records, which go back to 2015.
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2 weeks ago | 
themortgagepoint.com | Demetria Lester
The U.S. Department of Housing and Urban Development (HUD) has appointed Eric Sidle as its new Chief Information Officer (CIO). Sidle is a tech industry veteran with extensive experience as an engineer and executive in the electric vehicle and technology sectors.
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2 weeks ago | 
themortgagepoint.com | Demetria Lester
According to statistics from the April 2025 Builder Application Survey (BAS) of the Mortgage Bankers Association (MBA), mortgage applications for the purchase of new homes rose 5.3% over the previous year while the number of applications rose by 2% from March 2025. Typical seasonal patterns have not been adjusted for in this update.
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2 weeks ago | 
themortgagepoint.com | Demetria Lester
According to the National Association of REALTORS (NAR), existing-home sales decreased in April. The Midwest had growth in sales, the South saw no change, and the Northeast and West saw declines. Three regions saw a fall in sales year-over-year (YoY), while the Northeast saw no change. “Home sales have been at 75% of normal or pre-pandemic activity for the past three years, even with seven million jobs added to the economy,” said Lawrence Yun, Chief Economist at NAR.
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2 weeks ago | 
themortgagepoint.com | Demetria Lester
In its Q1 2025 report, ATTOM examined eligible low-income Opportunity Zones that Congress had designated for economic revitalization under the 2017 Tax Cuts and Jobs Act. In this analysis, ATTOM examined 3,558 U.S. zones that had at least five home sales in Q1 of 2025 and had enough data to evaluate. According to the study, some 48% of Opportunity Zones nationwide with sufficient data to measure saw an increase in median single-family house and condo prices between Q4 2024 and Q1 2025.
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2 weeks ago | 
themortgagepoint.com | Demetria Lester
According to a recent study conducted by Clever Real Estate, the average home can be purchased affordably in just two of the 50 major U.S. metro areas—Pittsburgh and Detroit—for the local median salary. Moreover, Iowa is the only state in the the nation with statewide affordability.
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2 weeks ago | 
themortgagepoint.com | Demetria Lester
The Fannie Mae Economic and Strategic Research (ESR) Group’s May 2025 Economic and Housing Outlook projects that total single-family home sales will reach 4.92 million units by the end of 2025, with existing house sales making up 4.24 million of those units. A reduction in the ESR Group’s projections for mortgage rates, which it now projects to conclude 2025 and 2026 at 6.1% and 5.8%, respectively, contributed to the revisions to the home sales prediction.
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2 weeks ago | 
themortgagepoint.com | Demetria Lester
Seasonally adjusted, U.S. home prices fell just 0.1% in April, marking the first monthly drop since September 2022. On an annual basis, home prices have increased 4.1%, which was less than the 4.9% growth in March. Since July 2023, that is the lowest annual price growth recorded, according to new Redfin data. The Redfin Home Price Index (RHPI) only reported a month-over-month fall in April; the other two months—August and September of 2022—followed a string of sharp increases in interest rates.
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2 weeks ago | 
themortgagepoint.com | Demetria Lester
According to the Mortgage Bankers Association‘s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, originations of commercial and multifamily mortgage loans fell 40% from Q4 of 2024 and increased 42% from Q1 of 2025 compared to the same period last year.
