Home Purchases

Homebuyer affordability declined in March, with the national median payment applied for by purchase applicants increasing slightly to $2,201 from $2,184 in February. This is according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS). 

LenderLogix, a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, has released the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the first quarter (Q1) of 2024.

Heartland Multiple Listing Service (MLS) has implemented Down Payment Resource’s (DPR) tools to notify real estate agents when homebuyers may be eligible for down payment assistance. According to a DPR analysis, 87% of Heartland MLS’s listings are eligible for one or more homebuyer assistance programs.

LenderLogix, a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, released the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the fourth quarter (Q4) of 2023.

ATTOM released its Year-End 2023 U.S. Home Sales Report, which shows that home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5 percent return on investment. But even as both gross profits and profit margins remained near record levels, they decreased from 2022, marking the first declines in either category since 2011.

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2023 shows mortgage applications for new home purchases increased 22.2 percent compared from a year ago. Compared to November 2023, applications decreased by 4 percent. This change does not include any adjustment for typical seasonal patterns.