Although 92 percent of survey respondents said homeownership was an important part of the American Dream, student debt is preventing many younger Americans from turning the dream into reality. Thirty-six percent of respondents said they knew someone who delayed the purchase of a home because of student loan debt, while 59 percent of Millennials acknowledged knowing someone who delayed buying a home for that reason.
Although most respondents identified homeownership as a key tenet of financial stability—80 percent of all respondents and 68 percent of Millennials answered affirmatively—affordability was still a concern. Only 44 percent of respondents believes that where they live is affordable for first-time homebuyers, while 62 percent complained that rent prices are too high for the average person to save to buy a home in their area. Among nonwhites, 65 percent said rent prices were too high in their communities.
Title company’s chief economist says history shows rising mortgage rates may take the steam out of rising house prices, but don’t necessarily trigger a decline.
The housing market is “normalizing” as affordability rapidly declines, forcing both buyers and sellers to adjust their expectations, according to a new report.
First American Financial Corp., a provider of title, settlement, and risk solutions for real estate transactions, ...
About 12% of customers may have been affected, according to a source.
Updated at 3:30 p.m. on 5/27/22
Equifax, one of the country’s three largest consumer credit reporting agencies, is telling lenders that a coding issue introduced during a technology change to its legacy online model platform may have resulted in the miscalculation of certai...