Existing-home sales increased in November, the third consecutive month of sequential growth.

In the fourth quarter of fiscal year 2025, the average sale price for homes sold by KB Home was $465,600.

Jayendran GS, CEO of Prudent AI, a mortgage tech provider, said the growing presence of AI in underwriting is alleviating some lender fear around the technology.

The Senate on Thursday confirmed Frank Cassidy as FHA commissioner and Joe Gormley as president of Ginnie Mae.

"And you will see this in the new year, I will announce some of the most aggressive housing reform plans in American history," President Trump said.

The House Financial Services Committee approved the Housing for the 21st Century Act on a 50-1 vote.

While purchase-mortgage issuance fell 8.4% to hit the lowest monthly volume since March, refinance activity spiked 44.0% in November.

Locks for mortgages declined by 4.2% on a monthly basis in November, according to Mortgage Capital Trading.

The shifts in October continued a trend seen throughout the year in the mortgage market.

The homebuilder said the decline in its average sale price in the past year was “primarily due to continued weakness in the market and an increased use of sales incentives offered to homebuyers.”