Property insurance is taking a bigger bite of the mortgage bill.

Right now, nearly one in every $10 paid by the average mortgage holder goes towards insurance.

And costs have climbed more than 11% in just the last year.

What does that mean for affordability?

Where are costs in the housing market rising fastest?

And how should buyers, sellers, and investors respond right now?

I'm Dave Meyer, joined by Andy Walden from ICE Mortgage Technology.

And today we're diving into everything going on with the housing market.

We're going to unpack their

latest mortgage monitor. We'll cover insurance trends, price movements, inventory, loan performance,

and more. This is on the market. Let's get into it. Andy, welcome back to On the Market. Thanks for

being here. You bet. Appreciate you having me again. Well, before we start, I just want to say thank you to you and your team. The Mortgage Monitor is such an awesome piece of content that you all put out. If you are a nerd like me, which I imagine you are because you listen to this show, you should really check this out. There's so much good data in here, and it's very accessible.

I think that's the thing you all do really well, is put into great visualizations, that anyone

can understand you don't need, you know, to dive through Excel. Like, this is a really cool

document. But for people who haven't read it, we're going to go deep into all the information

that Andy and his team have put together. Let's start,

Andy, just with high level overview of the housing market. You know, every forecaster, every

company sort of has a slightly different view of what's happening with prices and volume in the

country. What is the ICE data telling you? It's an interesting time in the housing market

right now. So our latest home price index shows annual home price growth, kind of holding

stable from July to August at about plus 1.1% year over year. We had been seeing this sharp

deceleration out there in the market. August provided a little bit of flattening.

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