Across all ages, 56% said refinancing to a lower mortgage rate is important or extremely important to their financial health, while 25% called it “extremely important.” “These findings reveal a generation of homebuyers who are taking significant financial risks in today’s market,” said Ethan Winchell, co-founder and president of Truework. “While homeownership remains a priority,
The ROAD to Housing Act is now headed to the Senate floor for consideration. It has garnered support from key housing, real estate and mortgage trade groups, though several are pushing for changes to specific provisions. “This bill is a welcome step in the right direction,” said Isaac Boltansky, head of public policy at Pennymac,
The median down payment has hovered around 15% since the COVID-19 pandemic, up from 10% in preceding years. Down payments last declined in the summer of 2023, driven by falling home sale prices. While home prices are increasing today — rising 1.4% year over year in April — home-price growth has slowed and is contributing
The national PAPI decreased 0.6% from March to a reading of 163.0 in April. Median earnings were up 4.8% compared to one year ago, and while payments decreased 3.1%, the significant earnings growth means that the PAPI is down 8.4% on an annual basis. For borrowers applying for lower-payment mortgages (the 25th percentile), the national