Consumers are feeling little optimism for the 2024 housing market as affordability concerns continue to push would-be buyers away from purchasing a home next year.

Lower interest rates have been particularly impactful in the market for new homes; MBA projects a mild recession in the first half of 2024; new MISMO working group initiated by the GSEs; technology for closing disclosure forms.

Regional differences in mortgage closing costs largely explain the seemingly irrational “failure to refinance” of some borrowers when rates fall.

An increase in the number of borrowers with non-traditional income sources has led more lenders to consider automated and AI-based underwriting practices, according to Ocrolus, a tech vendor.

A recent jury decision against NAR, HomeServices of America and Keller Williams Realty may change how real estate agent commissions are structured.

Guaranteed Rate-owned Owning says it can offer mortgage rates which are half a percentage point lower than competition by leveraging proprietary technology and specific underwriting criteria.

Lenders gravitated toward lower loan-to-value ratios and higher credit scores with their deliveries to the GSEs in the third quarter.

VantageScore expanded the borrower base; mortgage interest rates increased for seventh consecutive week; Blend tech offering for nonbanks; MISMO updates.

Increased screening during underwriting helped mortgage fraud risk decline 3.1% compared to last year, according to CoreLogic.

Better went from more than 10,000 employees in 2021 to fewer than 900 as of Sept. 1; lenders start early on 2024 loan limits; mortgage lock-in easing; MISMO initiatives; tool to check for appraisal bias; automated title reviews; insurance platform raises funds.