Commentary

The first month of the typically hot summer buying season produced less than stellar available home numbers, falling over 7% to a new record low.

“Single-family rent growth has slowed for a full year, and overall gains are approaching pre-pandemic rates,” said Molly Boesel, Principal Economist at CoreLogic.

The numbers are in from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, and the news is good—at least on a short-term scale.

“Overall credit performance remains solid for higher credit quality borrowers, but that is in an economy with unemployment rates below 4%,” Freddie Mac said in their report.

For the first time in 15 months, the Federal Reserve's Federal Open Market Committee moved to hold the nominal interest rate steady at a range of 5.00% to 5.25%.

Most property managers are not reporting payments to the three credit bureaus, and a survey found that reporting this data would likely boost on-time payments as well.

A new Fannie Mae Perspectives Blog surveyed a wide range of individuals on what “living the good life” means, as 86% of respondents cite homeownership as one of the key factors in their overall happiness.

Foreclosure starts increased 4 % over April 2023, while completed foreclosures increased 38%.

The NAR says the market needs an additional 320,000 new home listings valued at no more than $256,000 so that borrowers earning below $75,000 can get into the market.

Freddie Mac’s new mortgage product, HeritageOne, is meant to drive affordable financing options for single-family properties on tribal lands and rural areas in addition to financial counseling.