Industry News
Industry news plays a vital role in understanding the latest trends in housing, title insurance, and escrow services. From monthly housing market updates to practical tips and best practices, staying informed can help navigate the complexities of real estate with confidence. Plymouth Title Guaranty Corporation shares insights and updates designed to keep professionals and homebuyers prepared for every step of the process.
July 2022 Real Estate: Mortgage Applications Plummet with Affordability Challenges
Heading into the July 2022 real estate market, the United States continues to face timeless obstacles. As the latest inflation data shows year-over-year growth, the white-hot U.S. real estate market displays signs of stalling.
Despite 2021 reflecting a surge in home sales activity, sales of existing homes just achieved their fifth month in a row of declining statistics. As a matter of fact, sales of existing homes fell to their lowest point since June 2020.
Real Estate Market Challenges Contribute to the Declining Originations
May 2022 highlighted numerous real estate market challenges facing prospective home buyers. Now, the data directly supports the drop-off in activity.
Total Mortgage Originations Plummeting as Rates Soar This Year
Throughout 2021, the United States real estate market experienced a massive resurgence, however, total mortgage originations are now plummeting this year.