The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Zillow analyst on whether home prices can keep climbing

Today’s episode of HousingWire Daily features an interview with Nicole Bachaud, as she discusses annual and monthly home price appreciation growth, rising inventory levels and rent prices.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Mortgage

Survey: 45% of non-homeowners say finances keep them from buying

Nearly 30% say they can’t afford a down payment

Nearly half of all non-homeowners say that their financial situation is preventing them from buying a home, a new report from Bankrate.com showed.

According to Bankrate’s survey, nearly 30% of all non-homeowners say that they can’t afford a down payment, despite only needing to save 3% for a down payment.

Additionally, 16% of the survey respondents said they felt that their credit isn't good enough to qualify for a mortgage.

According to Bankrate’s survey, which was conducted by Princeton Survey Research Associates International via telephone interviews with a nationally representative sample of 2,002 adults living in the continental United States, more than one-third of non-homeowners (35%) say they don't own because they just don't want to be homeowners yet.

And for all the hubbub about waiting for the great wave of Millennials to save the housing industry, Bankrate’s survey showed that 44% of Millennials don’t want to own a home right now, which may suggest that more Millennials are planning on settling down later in life and are not looking for long-term commitment.

According to Bankrate, an eve more surprising result of the survey is that more than 40% of middle-aged Americans don’t own a home, and 31% of those non-homeowners cite not being able to afford a down payment as the main reason.

Another 20% claim that bad credit is preventing them from getting a mortgage.

"It's not surprising that a lot of millennials aren't interested in home ownership yet. Renting allows them more freedom to move," said Holden Lewis, Bankrate.com’s senior mortgage analyst. "For people in the prime child-rearing years of 30 to 49, it's more complicated. A lot of them have income and credit issues that might have roots in the recession.”

Latest Articles

How can the mortgage industry retain more employees?

“We should take pride in the fact that our tiny, little industry is really pivotal in this whole cogwheel of not just the American dream, but our economy and everything else,” Black Knight’s Sandra Madigan says. HW+ Premium Content

Sep 22, 2021 By
3d rendering of a row of luxury townhouses along a street

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