Remove Debt-to-income ratio Remove Marketing Remove Mortgages
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Southern states had the highest mortgage denial rates in 2023: NAR

Housing Wire

Mortgage denial rates vary significantly across the U.S., Three Southern states recorded the nations highest mortgage denial rates in 2023, the trade group reported in its Snapshot of Race and Home Buying in America. Realtor.com chief economist Danielle Hale explained that a range of financial factors contribute to mortgage denials.

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More homebuyers seek government-backed loans as an affordability lifeline

Housing Wire

The combined cost of mortgages, taxes and insurance now takes up a larger share of household income than it has since the early 1980s, according to an affordability index from John Burns Research & Consulting. High-cost markets, for example, may be less keen on accepting FHA or VA loans over their conventional counterparts.

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Homebuyers are taking more risks in an obstacle-filled market

Housing Wire

housing market remains challenging for prospective buyers as concerns over mortgage rates , home prices and affordability persist in 2025. A NerdWallet report with second-quarter 2024 data found that the average monthly housing payment was $3,500 or 49% of the median income for those in the typical first-time homebuyer age group.

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First-time homebuyers becoming first-time home sellers

Housing Wire

Many who bought during the pandemic are now rethinking their decisions, citing changing lifestyles, financial miscalculations, and shifting market conditions, according to new data from Opendoor. Whatever that looks like, they’re kind of maxing out with the debt-to-income ratio. They’re getting a loan.

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How will first-time buyers fare if sellers can’t offer buyer agent compensation?

Housing Wire

By making an offer of compensation, sellers communicate to buyers, as a marketing tactic, that their transaction costs may be reduced. This tactic will only work if the home appraises at the higher value, of course—leaving the consumer with a larger mortgage and monthly payment. These “solutions” do not leave buyers better off.

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Buy now, pay later: How do mortgage pros deal with ‘phantom debt’?

Housing Wire

Earlier this year, New Jersey-based mortgage broker Joe Racamato, president of Silex Financial Group Inc., Traditionally, Silex Financial Group ran the initial numbers for a potential borrower to qualify for a mortgage based on what’s on their credit report, according to Racamato. Meanwhile, BNPL loans are growing rapidly.

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Mortgage industry provides commentary on CFPB’s proposed changes to QM loan definition

Housing Wire

Prior to the deadline for public commentary on Tuesday, housing industry trade groups, companies and organizations responded to the Consumer Financial Protection Bureau’s proposed rulemaking for the general qualified mortgage definition and the expiration of the QM patch in January 2021. Under § 1026.43(c)(2)(vii), Section 1026.43(c)