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Regional housing market analysisRegional housing market analysis
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100 major housing markets, one key question: How many homeowners are underwater?
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100 major housing markets, one key question: How many homeowners are underwater?

ResiClub PRO | In total, 2.1% of outstanding U.S. homeowner mortgages are underwater—up from 1.3% a year ago.

Lance Lambert
Lance Lambert
MortgageMortgage
Foreclosure activity inches closer to pre-pandemic 2019 levels
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Foreclosure activity inches closer to pre-pandemic 2019 levels

ResiClub PRO | Back in Q4 2021, U.S. foreclosure activity was 88% below pre-pandemic (Q4 2019) levels. By Q4 2025, foreclosure activity was just 18% below those pre-pandemic levels.

Lance Lambert
Lance Lambert
MortgageMortgage
Housing’s quiet shock absorber: U.S. homeowners at large have a giant equity buffer this cycle
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Housing’s quiet shock absorber: U.S. homeowners at large have a giant equity buffer this cycle

ResiClub PRO | According to the Federal Housing Finance Agency, 76.7% of all U.S. mortgages have loan-to-value (LTV) ratios of 60% or less.

Lance Lambert
Lance Lambert
MortgageMortgage
Mortgage market update: Mortgage purchase and refi applications improve but remain historically soft

Mortgage market update: Mortgage purchase and refi applications improve but remain historically soft

Mortgage purchase applications are starting 2026 in ‘historically soft’ territory (bottom 25th percentile). However, they’re approaching the bottom threshold for ‘historically normal’ purchase apps levels (25th–75th percentile).

Lance Lambert
Lance Lambert
MortgageMortgage
Trump directs Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds to attempt to push mortgage rates lower

Trump directs Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds to attempt to push mortgage rates lower

Fannie Mae and Freddie Mac have already started to accelerate their retained mortgage holdings—with them rising around $69 billion in the second half of 2025.

Lance Lambert
Lance Lambert
MortgageMortgage
Powell: 'housing market faces some really significant challenges' that a 25 bps rate cut won’t resolve

Powell: 'housing market faces some really significant challenges' that a 25 bps rate cut won’t resolve

Fed Chair Jerome Powell acknowledged this week that recent rate cuts alone won’t restore affordability in the housing market.

Lance Lambert
Lance Lambert
MortgageMortgage
A half-century of data shows a 1.40-point average annual mortgage-rate range

A half-century of data shows a 1.40-point average annual mortgage-rate range

According to a ResiClub analysis, the 30-year fixed mortgage rate has averaged a 1.40-percentage-point annual range since 1972. In 2025, the range was 0.87 points.

Lance Lambert
Lance Lambert
MortgageMortgage
Mortgage purchase applications are rising—so why did most housing markets soften in 2025?
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Mortgage purchase applications are rising—so why did most housing markets soften in 2025?

ResiClub PRO | Despite a mild uptick in U.S. housing demand over the past year, it remains low enough for housing market slack—active inventory for sale—to keep building.

Lance Lambert
Lance Lambert
MortgageMortgage
FHA ban sends non-permanent resident mortgage locks from boom to bust

FHA ban sends non-permanent resident mortgage locks from boom to bust

Non-permanent residents—including H-1B visa holders—share of FHA mortgage locks has cratered from 3.8% in September 2024 to 0.2% in September 2025, according to Optimal Blue.

Lance Lambert
Lance Lambert
MortgageMortgage
Housing affordability is so strained that the White House is looking at a 50-year mortgage option—11 things to know

Housing affordability is so strained that the White House is looking at a 50-year mortgage option—11 things to know

Over the past few days, the ResiClub team ran the numbers to better understand the math on 50-year mortgages.

Lance Lambert
Lance Lambert
ForecastForecast
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Fannie Mae and MBA agree: Most of the mortgage rate relief is already behind us

Fannie Mae and MBA agree: Most of the mortgage rate relief is already behind us

The average 30-year fixed mortgage rate tracked by Freddie Mac is 6.19%, down from 6.54% a year ago. Many economists believe that most of the short-term mortgage rate compression is already behind us.

Lance Lambert
Lance Lambert
MortgageMortgage
Powell admits MBS buying 'should have' stopped sooner—and says Fed will be more ‘nimble’ in future cycles

Powell admits MBS buying 'should have' stopped sooner—and says Fed will be more ‘nimble’ in future cycles

Powell acknowledged that the central bank may have kept purchasing mortgage-backed securities (MBS) for too long—but he’s also unsure how much it actually contributed to the Pandemic Housing Boom.

Lance Lambert
Lance Lambert