Orange County Register, Jan. 30, 2019–Jeff CollinsSouthern California home sales fell for a fifth consecutive month in December, dropping 20.3 percent year-over-year as the once-hot 2018 housing market cooled considerably, CoreLogic reported. It was the biggest sales drop for any month in eight years.
Category: Top National News
Is China’s Debt Crackdown Hitting California’s Commercial Real Estate Bubble?
Market Express, Jan. 30, 2019–Wolf RichterThe Chinese government is cracking down on capital flows from China to other countries, particularly to fund real estate projects. It is also cracking down on the “ballooning” debt of Chinese conglomerates, after their real estate buying spree.
U.S. Mortgage Applications Fall as Borrowing Costs Edge Up
Reuters, Jan. 30, 2019–Richard LeongU.S. mortgage applications to buy a home and to refinance one fell for a second straight week as borrowing costs edged higher in step with higher bond yields, the Mortgage Bankers Association said on Wednesday.
Experts are Throwing Cold Water on a ‘Housing Collapse’
Business Insider, Jan. 29, 2019–Rebecca UngarinoThe entire housing space from homebuilders to mortgage lenders has fallen under significant pressure over the last year as rising interest rates have posed a major headwind. While it’s worth noting a slowdown in a crucial part of the market and the economy, some strategists and economists call concerns “overblown.”
Why Technology Hasn’t Fixed the Housing Crisis
New York Times, Jan. 29, 2019–Emily Badger A lot of start-ups have promising ideas, but the fundamental problem of affordability seems beyond their reach.
Ginnie Mae Ramps Up Scrutiny of Nonbank Mortgage Lenders
The Real Deal (New York), Jan. 29, 2019–Kevin SunFor the first time in years, the agency has asked a number of these lenders to improve financial metrics before receiving full approval to continue issuing Ginnie Mae-backed mortgage bonds.
Mortgage, Real Estate Industries Get Creative to Aid Clients
National Mortgage News, Jan. 29, 2019–Elina Tarkazikis (subscription)Current housing market conditions are sending the real estate and mortgage industries back to the drawing board to craft strategies ultimately in support of customer acquisition and retention at a time when competition is tight.
GSEs Data Security Top Senate Banking’s Agenda
National Mortgage News, Jan. 29, 2019–Neil Haggerty (subscription)The Senate Banking Committee will examine proposals to “fix the flawed” housing finance system in the new Congress, according to a summary of Chairman Mike Crapo’s legislative priorities unveiled Tuesday.
Commercial Real Estate Lending Had a Banner Year in 2018
France Media, Jan. 28, 2019–Jaime Lackey, Nellie DaySupply and demand are expected to be strong for commercial loans in 2019, The Mortgage Bankers Association’s Commercial Real Estate Finance Outlook Survey said. The majority of lender respondents believe the market will grow this year, though loan risks are expected to edge higher as returns hold steady.
What is Otting’s Plan for GSE Reform? It’s Complicated
National Mortgage News, Jan. 28, 2019–Hannah Long (free content)Federal Housing Finance Agency acting director Joseph Otting promised the White House is set to announce an administrative plan for changes to Fannie Mae and Freddie Mac. But the mechanics of such a plan as well as the timeline have left mortgage industry insiders scratching their heads.