Homes
Home affordability is the best in 4 years, with median earners spending 27.4% of their incomes on median priced homes. This is down from 35.3% a year ago.
Homeowners who are selling cut prices on 27.4% of listings in July, and 37% of homebuilders cut prices by 5% in August.
How far will Rocket and others go to deliver one-stop shop homebuying? These diagrams answer the question.
Combined Rocket & Mr. Cooper will originate $123.3 billion and service $2.1 trillion in mortgage loans for 10 million consumers
Homebuilder tariffs would make U.S. home affordability even worse. Buyers of newly built homes already need to make $131,000 per year to qualify.
If buyer commissions are 3% on today's median prices for existing ($379,100) or newly built ($420,700) homes, that's $11,373 or $12,621 in extra closing fees for buyers.
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