Wall Street Journal, Sept. 13, 2018–Leslie Scism, Coulter Jones (subscription)Fewer homeowners in North and South Carolina own flood insurance than five years ago, signaling many won’t have access to ready cash if they need to rebuild after Hurricane Florence.
Category: Top National News
Homebuyers Start Looking at Mortgages Before Searching for a House
National Mortgage News, Sept. 12, 2018–Elina Tarkazikis (subscription)About 73.5% of house shoppers claim to seek financing options prior to searching for a home, according to a survey by loanDepot and its real estate services provider mellohome. For first-time homebuyers, this figure hit 85.1%.
A Decade After the Financial Crisis, Mortgage Market Still Needs Fixes
The Hill, Sept. 11, 2018–James Lockhart”There is no excuse for the continued massive government involvement in housing finance,” Lockhart says. “As we did 10 years ago, the Federal Housing Finance Agency must work with Congress and the administration to reform the mortgage market.”
Mortgage Credit Tightens in August
Scotsman Guide, Sept. 11, 2018–Victor WhitmanMortgage credit tightened marginally in August for the first time in four months, the Mortgage Bankers Association reported.
The Government May Want to Buy Your Dying Mall
Wall Street Journal, Sept. 11, 2018–Esther Fung (subscription)These municipalities, concerned that vacated retail centers will blight the landscape and drag down surrounding property values, have been buying up malls they fear are being starved of capital by the private sector.
New York’s World Trade Center Struggles to Fill Office Space
Wall Street Journal, Sept. 11, 2018–Peter Grant (subscription)Nearly 20% of One World Trade Center remains empty four years after it opened.
How Ginnie Mae Could Break Stalemate on GSE Reform
National Mortgage News, Sept. 11, 2018–Hannah Lang (subscription)Housing finance reform is still likely years away, but two major hurdles may already be cleared. A key sticking point in earlier attempts to overhaul the system was whether it will still have government backing. A related question also creeping up at times: What agency will be the source of that backing?
RealPage Completes $100 Million Acquisition of LeaseLabs
HousingWire, Sept. 11, 2018–Ben LaneThe acquisition of LeaseLabs is just the latest for RealPage, a provider of software and data analytics to the real estate industry. This is RealPage’s sixth since January 2017 and pushes the company’s total outlay for its recent expansion past $1 billion.
Record U.S. Job Openings, Quits Rate Boost Wage Growth Outlook
Reuters, Sept. 11, 2018–Lucia MutikaniU.S. job openings surged to a record high in July and more Americans voluntarily quit their jobs, pointing to sustained labor market strength and confidence that could soon spur faster wage growth.
Three Reasons to Worry About the Housing Market
CBS News, Sept. 10, 2018–Anthony MirhaydariStorm clouds are gathering in the housing market as the Federal Reserve pushes interest rates higher, part of its ongoing fight to keep a lid on inflation. Higher rates weigh on home affordability and thus depress demand.