housing - Unusual Whales

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housing

A collection of 4 posts

Realtor.com doesn't expect housing affordability to improve due to undersupply in the market for a decade

Per BI Realtor.com says that it doesn't expect housing affordability to improve. This was explained to be due to borrowing costs and home undersupply. These issues reportedly built up over the past decade, according to Danielle Hale from Realtor.com. The chief economist went on CNBC to

mortgage applications

US mortgage applications fell for a fourth week, reaching the second-lowest level since 1995

Per Bloomberg Fewer Americans are applying for mortgages for the fourth week in a row as its levels reach the second-lowest since 1995. This came despite a recent 10 basis point decrease in 30-year-fixed mortgages. As seen on the Mortage Bankers Association index, it was revealed that there was a

Housing unaffordability is causing banks to lose money

Due to the high housing prices, even banks are losing money on every mortgage they finance. On average, every mortgage that banks originated in 2022 costs the banks $301. A recent MBA report shared how the new losses represented a 113% decrease from how much a bank made last year.

Youngest Congress Member Aged 25 Says He was Rejected for an Apartment Because of Poor Credit History

Per NYT The youngest member of Congress, 25-year-old Maxwell Frost says that he shares a problem a lot of other Gen Zers struggle with in this modern age. The representative-elect said that he struggles to rent an apartment and was even rejected due to his poor credit score. Getting rejected