Purchase applications from January show home affordability declining, even as interest rates fell steadily throughout the month, according to the Mortgage Bankers Association. After two consecutive monthly drops, the median payment amount applied for on new purchase applications increased to $1,964 in January, rising 2.3% from $1,920 in December, the MBA reported. The median shot … [Read more…]
The American dream of homeownership is not an equal opportunity ambition. Blacks and Hispanics are more likely to be denied mortgages or get pricier loans.
The post ‘How Can We Catch Up?’ Mortgage Denials Stack the Deck Against Black and Hispanic Buyers appeared first on Real Estate News & Insights | realtor.com®.
A very significant change in homebuyer demographics is expected during the next 20 years. Will it also have a significant effect on home values? The January 2021 Urban Institute report (The Future of Headship and Homeownership) finds: âNet growth in the number of homeowners from 2020 to 2040 will be entirely among people of color, […]
The post Majority of Home Buyers Expected to be Hispanics, African-Americans, and Other Minorities appeared first on RealtyBizNews: Real Estate News.