Renters now spend more than 40% of their incomes on the cost of housing.
U.S. mortgage performance remained on solid footing in July, with both overall delinquency and foreclosure rates continuing to hover near record lows.
The index has now registered a 6% cumulative gain since the beginning of 2023.
U.S. home price growth is proving resilient compared with trends in other countries.
Mortgage buydown activity increased late last year as interest rates rose but has begun to slow in 2023.
U.S. annual single-family rent growth declined for the 15th straight month in July.
U.S. home prices began rebounding on an annual basis in July, rising by 2.5%.
U.S. homeowners with a mortgage gained nearly $14,000 in equity from the first quarter of 2023 to the second quarter.
Both U.S. overall mortgage delinquency and foreclosure rates remained at or near an all-time low in June.
Midwestern metro areas such as Cleveland and Chicago are now the hottest housing markets, while Mountain-West pandemic boomtowns like Denver and Phoenix are now among the coolest.
As mortgage rates continue to tick up, HELOC activity is slowing.