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Batty 🦇
By Jeff Walton & Kelly Guest
Table of Contents
The introduction of today’s issue is colored by the fact that a bat found its way into InGeniusly Speaking headquarters early this morning and did several laps around the main floor. Our sincerest hope is that the intruder found his way back out a sliding door, though the chances are far greater that he found a hiding place to prepare for his next flyby. Your humble editor started the week armed with a broom and covered in a large, hooded jacket, peeking around corners and anxiously awaiting what comes next. Kind of like navigating geopolitical events and today’s market.
CHATTER
MBA’s Chief Econ Mike Fratantoni on the Fed: “With inflation elevated and likely moving higher due to the spike in oil prices, and with the job market resilient, there was more uncertainty going into the July FOMC meeting than we have seen in some time. The FOMC’s decision to hold the federal funds target at its current level, coupled with the three dissents at this meeting, with each of these dissenting members preferring to hike rates now, indicates that the Fed is likely moving into a hiking cycle soon. Markets are now expecting they could start hiking before the end of the year.
“Higher inflation, and this turn in monetary policy, certainly have contributed to the increase in mortgage rates, now at their highest levels since last August. These higher rates are posing a headwind for the housing market. MBA’s forecast is for mortgage rates to average close to 6.5% for the foreseeable future.”
Grants Gaining
Help is Here: DPA on the Rise - Down Payment Resource
Q2 2026 Homeownership Program Index (HPI) report shows continued growth in the scope and breadth of homeownership programs. As of July 1, 2026, there are 2,746 programs available nationwide, up 67 from Q1 2026.
Of the 2,746 homebuyer assistance programs nationwide as of July 1, 2026, 2,114 (77%) are currently active and funded, consistent with the prior quarter.
Second-mortgage programs remain the most common structure at 56% (1,528 programs), followed by combined assistance programs at 10% (284) and first-mortgage programs at 9% (247). Grant programs rose to 234 (9%), up from 220 in Q1.
Helper or Competitor?
Another Tech Player Hopes to Grab Buyers: Lofty/house.ai
From the release: “The new financial intelligence for homeownership helps consumers build buying power while connecting real estate professionals with transaction-ready clients.”
“The real estate industry has been held back from achieving its growth potential as consumers lack the personalized insight needed to harness their true buying power.”
“House.ai closes that gap for consumers, and it changes the equation for agents, too: instead of chasing unqualified leads, professionals in the Lofty network meet clients who already know their number, their gap, and their plan. This ensures a better experience for buyers, and a stronger pipeline for the professionals who serve them.”- Joe Chen, CEO and Founder of House.ai.
House-hunting Hypocrisy
For Thee, Not Me: Buyers Don’t Like Recording Devices, But They Would Use Them
LendingTree found 56% of recent sellers recorded showings
Nearly three-quarters of recent buyers (72%) say they’ve seen or suspected cameras, microphones or recording devices during a home tour.
Concerns about being recorded affect buyer behavior. More than 1 in 5 recent buyers say they avoided discussing their budget or offer strategy (22%), hid their excitement about a home (22%) or avoided saying what they disliked (21%) because of concerns about being recorded.
Nearly two-thirds of consumers (62%) say they would be likely to keep recording devices active during showings if they were selling a home. However, 64% of recent buyers say they’re concerned about sellers watching, listening to or recording them during home tours.
MOVING & SHAKING
David Abrahamson rejoined EPM as Chief Risk Officer.
Equity Double-Dipping?
Card -carrying HELOC: GoodLeap Blends HELOC & Cash Back Credit Card
The GoodLeap Home Visa Signature Card offers 6% cash back on home improvement projects, claims it’s highest return rate available on HI spending.
More Monitoring: Method Says They’re Giving Lenders “New Superpowers”
The company announced the release of Portfolio Intelligence, a new product powering continuous post-origination monitoring for lenders. Where other attempts at offering this product have relied on periodic data pulls, manual batch uploads or customers maintaining account connections, Method’s Portfolio Intelligence monitors continuously.
Portfolio Intelligence continuously monitors borrowers’ full liability profile across more than 90 financial health signals, through direct connections to thousands of financial institutions.
In an eight-week pilot with a major national mortgage provider, Method helped them realize a 40% increase in borrowers that qualified for debt-consolidation with a $4,000 decrease in avoidable interest for each borrower.
Another Vendor in the Mix: Constant Contact Launches RE Agent Platform
The company conducted research that found that 86% of an agent's business comes from their existing database and sphere of influence—evidence that long-term relationship marketing continues to outperform transactional marketing, and that professionals increasingly prefer connected technology ecosystems over isolated tools.
Multi-layered offering: Brokerages and franchises can scale agent productivity while protecting brand consistency across their organization. Associations and MLSs can offer members a high-impact marketing benefit that drives engagement, supports continuing education, and strengthens retention. And agents get direct access to AI-powered content creation, automation, and marketing tools that plug into the platforms they already rely on.
MARKET/INDUSTRY
Gravitational Pull: How bad was last week? Bill Bodnar breaks it down in his latest Master the Markets segment.
Mortgage Rates Average 6.66%: Freddie 7-30-26
Mortgage Applications Decreased 6.4% from One Week Earlier: MBA Weekly Survey for the week ending 7-24-26.
Homebuyer affordability improved in June, with the national median payment applied for by purchase applicants decreasing to $2,191 from $2,198 in May. This is according to the MBA’s Purchase Applications Payment Index (PAPI) which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).
“Conditional Affordability”: Truework 2026 Recent Home Buyer Report
The verification provider surveyed 1,000 Americans who purchased a home within the past 24 months.
Mortgage payments are forcing many recent homebuyers into real financial risk just to stay in their homes. Here are the highlights:
88% of recent buyers with a mortgage say one common financial setback could jeopardize their ability to make their monthly payment
85% of recent homebuyers with a mortgage say refinancing within the next three years is important to their financial health, up from 56% in a similar 2025 survey
67% say job loss or a reduction in income would put their mortgage payments at serious risk
50% say their mortgage becomes unsustainable without a lower rate
40% say they will need to get a second job if they are not able to refinance their mortgage in 3 years – and 21% would dip into retirement savings in that same scenario
32% have already cut back on basic living expenses like food, clothing, health, and hygiene to cover their mortgage today
50% say their mortgage becomes unsustainable without a lower rate* (*Among recent homebuyers with a mortgage)
Unlocking Equity: HighTechLending Announced Equity Option Expansion
Expanded 1% Payment Plan Option – Homeowners ages 55 and older are now eligible for EquitySelect's popular 1% qualifying payment plan option, allowing more borrowers to qualify with lower monthly qualifying payments.
New Low-Payment Options for Borrowers Ages 50–54 – Homeowners between the ages of 50 and 54 can now qualify using payment plan options as low as 3%, extending EquitySelect's unique qualification approach to a broader borrower population.
Slow Push & Pull: First American June HPI - NMP
“The housing market is quietly inching back toward price growth. Annual appreciation reached its fastest pace since last August, while also becoming broader based, with more than half of the markets we track once again posting annual price gains.” - First American Chief Economist Mark Fleming
Foreign Influence: NAR 2026 International Transactions in US Real Estate
After rebounding last year for the first time since 2017, foreign purchases of U.S. homes lost momentum over the last year, reflecting a broader housing market slowed by high home prices, limited inventory and elevated borrowing costs.
International buyers purchased $45.3B worth of U.S. existing homes between April 2025 through March 2026, a nearly 20% drop in dollar volume and 14% decline in the number of homes purchased compared to the previous year.