Economy and Housing Market

Still, home-purchase applications are 18% lower than a year ago, according to the Mortgage Bankers Association.

Improvements in consumer education around this type of loan are necessary, as many are unaware of their options, say the authors of a new study.

Low borrowing costs continue to help buyers with affordability, especially as the median home price surges to a new record high of $350,300.

The decline, which suggests a slowdown in buyer demand, occurred even as mortgage rates also fell.

The housing shortfall is driving up prices, but a crash is unlikely.

Though low rates have contributed to high buyer demand, affordability is holding the market back, according to Freddie Mac.

It takes an average of 96 days for a person’s credit score to recover after taking out this type of loan.

A new policy removes some barriers for borrowers with student loan debt who are trying to qualify for a federally insured mortgage.

Higher home prices are having a “significant impact” on housing affordability, according to a new NAR report.

Skyrocketing home prices and bidding wars may make it more difficult to reach this time-honored down payment goal.