Analysis and Data
Focus on rates has shifted how borrowers shop for mortgage
A survey done by Offerpad reported that more than a third of Americans are hopeful about the housing market, despite recent shifts.
Housing Opportunity Index shows just 42% of families earnings median income could afford the homes sold in Q3.
CPI slipped to 7.7% in October, the smallest YOY increase since January.
Rates holding firm near 20-year highs.
The National Association of Realtors also said 46% of metros registered double-digit price increases.
CEO says company will sell RedfinNow inventory of homes by Q2 2023.
Expects to complete closing of its forward retail mortgage division by the end of 2022.
Completed foreclosures increased by 18% while foreclosure starts stayed flat.
MBA says Refinance Index is down 87%, Purchase Index is down 41% from last year.