The uptick came while five of the six HPSI components remained flat or declined from July. The fuel to the new high came in the sixth component, “Mortgage Rates Will Go Down,” which recorded an 11 percent spike.
“Growing expectations that mortgage rates will remain flat or decline are reflected in the HPSI’s latest reading, which is now at a survey high even though other indicators of economic and housing market sentiment are flat to negative,” said Doug Duncan, Fannie Mae’s senior vice president and chief economist. “Unfortunately, much of the lower interest rate environment can be attributed to global economic uncertainties, which appear to have dampened consumer sentiment regarding the direction of the economy. We do expect housing market activity to remain relatively stable, and the favorable rate environment should continue supporting increased refinance activity.”
The New York Federal Reserve Bank says Americans now hold more than $11 trillion in mortgage debt
As housing prices rose during the pandemic, U.S. homeowners saw their mortgage debt increase along with them, credit agency Experian reports.
Experian looked at how mortgage debt varies by state and how it's grown over time, specifically from 2017 to 2021. The analysis incl...
Alternative real estate financing company cut about 120 jobs.
Homeward, an Austin, Texas-based company offering alternative financing for real estate, laid off about 20% of its staff this week.
In a 1,330-word message titled "A Note From Our CEO" posted to the company’s website blog on Wednesday, Homeward Founder & CEO Tim Heyl s...