Analysis and Data
While nearly half of U.S. mortgaged homes remain equity-rich, data indicates a downturn in recent quarters.
Despite mounting pressures, the central bank remains cautious as housing and mortgage sectors show signs of stagnation.
ADP report indicates education, health care sectors emerge as top job creators; 5.7% year-over-year pay growth noted.
Purchase applications hit their lowest since 1995, while ARMs surge by almost 10%, reflecting a market adjusting to near 23-year high interest rates.
Fitch Ratings says non-bank mortgage companies might grapple with challenges due to subdued origination volumes and prevailing high-rate environment.
House price indices show price tags not letting up.
The lack of consistent record-keeping on desktop appraisal reports could pose risks to financial safety, with the OIG pushing for increased transparency and improved monitoring.
Fannie Mae survey reveals a blend of financial and non-financial factors behind homeowners' decisions to stay put, with aging-in-place and home attachment also playing pivotal roles.
Foreclosures rise as 'zombie properties' persist, but overall impact minimal on booming market.
As consumer spending outpaces forecasts, concerns arise over stagnant incomes; Federal Reserve to consider this crucial data in its upcoming policy meeting.