Research – Page 5 – PROGRESS in Lending

CFPB Mortgage Report Finds Jumps In Closing Costs And Denials For Insufficient Income, Growing Proportion Of Cash-Out Refinances

September 28, 2023 PROGRESS In Lending

The Consumer Financial Protection Bureau (CFPB) released its annual report on residential mortgage lending activity and trends. In 2022, mortgage applications and originations declined markedly from the prior year, while rates, fees, discount points, and other costs increased.

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US CoreLogic S&P Case-Shiller Index Switches Gears In July, Increases 1% Year Over Year

September 27, 2023 PROGRESS In Lending

With July’s small pivot in annual home prices and given the early spring surges, the CoreLogic S&P Case-Shiller Index now shows a 6% cumulative increase in home prices for 2023. And while some metro areas, particularly those in the West, are recovering from larger declines seen in 2022, appreciation across the country has generally been solid. Lower-priced homes are seeing a stronger recovery, given the lack of affordable inventory and the resulting demand pressure on that segment of the housing market.