The mortgage market was buffeted by a number of changes in 2013 and 2014. Among them were higher fees at the FHA.
The homeownership rate fell to 64.8 percent in the second quarter. It marks the lowest ownership rate in nearly 20 years.
Lawrence Yun talks about the slight drop in pending home sales, the so-called "lock-in effect," the top three reasons people move, and the capital gains tax.
After three consecutive months of solid gains, pending home sales slowed modestly in June.
First-time homebuyers have been largely absent from the housing market in the current economic recovery, but some metropolitan areas – particularly in the Midwest and West – are well positioned to see increases in home-buying from the Millennial generation in upcoming years.
Infographic: Best Purchase Markets for Millennial Homebuyers
The information in this infographic is from June 2014 Existing-Home Sales data.
Existing-home sales increased in June and reached an annual pace of 5 million sales for the first time since October 2013, while rising inventory continues to push overall supply towards a more balanced market.
New ATR/QM lending rules that went into effect on Friday, January 10th, 2014 make sense to protect the consumer, but can also give lenders pause.
Find out how much you know about international home buying in the U.S.