Analysis and Data

Sales fell 10.5% in July as inventory climbed, leaving builders increasingly dependent on price cuts, mortgage-rate buydowns, and other incentives

Average payments for first-time buyers have climbed 57% since 2019, while serious delinquency is becoming concentrated among lower-scoring borrowers

The lender’s shares have traded below the exchange’s $1 threshold, putting a potential reverse stock split on the table

Applications fell 5.7% annually in July, while government-backed mortgages accounted for half of builder-affiliated loan volume

The agency’s first nonperforming-loan offering in 13 months transfers 969 deeply delinquent mortgages to private buyers, including a small pool concentrated in Dallas-Fort Worth

Contract signings fell in every region during July, leaving purchase activity 30% below its 2019 level despite a larger workforce

Cash transactions fell faster than the broader housing market in early 2026, but buyers without financing still accounted for nearly one-third of home sales

Overall delinquencies dipped in the second quarter, but FHA serious delinquencies jumped 227 basis points from a year earlier as more troubled loans moved toward foreclosure

One-third of consumers say they would consider switching lenders over older scoring models, making underwriting technology a potential borrower-retention issue

Prices fell 2.9% in Austin but rose 6.4% in Chicago, showing weak purchase demand is producing local corrections rather than a national one