CNBC, May 31, 2017–Diana OlickMortgage applications fell 3.4 percent last week from the previous week. Demand for housing has been strong this spring, but the supply of homes for sale continues to drop.
Category: Top National News
BPC: Here’s a Bipartisan Path Forward to Accomplish GSE Reform
HousingWire, May 31, 2017–Brena SwansonA lack of bipartisan support derailed any chance of reforming Fannie Mae and Freddie Mac for years, but the Bipartisan Policy Center is set on correcting this as talks for reform start to resurface.
The Fed Could Deliver a September Surprise to the Markets
Business Insider, May 31, 2017–Pedro Nicolaci da Costa The Federal Reserve looks all but set to raise interest rates at its next policy meeting on June 13-14 and officials have indicated at least one more hike is coming before year end.
Commercial Real Estate Lending Growth Remains Strong Despite Fed Rate Hikes
Forbes, May 31, 2017The Fed’s ongoing interest rate hike process has had a negative impact on the rate of loan growth across U.S. banks over recent months, but commercial real estate lending activity has bucked this trend to grow at a faster rate than any other loan category.
Down Payment Misconceptions Continue to Hinder Millennials from Owning a Home
Mortgage Professonal America, May 31, 2017–Anna Sobrevinas Misconceptions about down payments continue to hinder millennials from the possibility of owning a home. Industry professionals at a recent Mortgage Bankers Association conference cited the belief that a 20 percent down payment was required to get a mortgage as “the greatest cause of confusion among first-time homebuyers.”
Show HUD’s Budget Cuts the Door
New York Times, May 30, 2017–Editorial BoardIn an editorial, the Times calls the Administration’s proposed cuts to HUD public housing programs “destructive” and calls on Congress to search for solutions to affordable housing.
U.S. Housing Demand Spikes As Mortgage Rates Remain Low
Mansion Global, May 30, 2017–Fang BlockAs the traditional selling season commenced in April, U.S. homebuyers took more tours and made more offers for their dream properties compared to the previous month, resulting in a 9.2% increase in the Redfin Housing Demand Index released Tuesday.
Consumer Spending, Inflation Data, Support Fed Rate Hike Case
Reuters, May 30, 2017–Lucia MutikaniU.S. consumer spending recorded its biggest increase in four months in April and monthly inflation rebounded, pointing to firming domestic demand that could allow the Federal Reserve to raise interest rates next month.
Fed’s Brainard: Rate Hike Likely Appropriate Soon, But Slowing Inflation Could Prompt Rethink on Hikes
CNBC, May 30, 2017–Berkeley Lovelace Jr.Federal Reserve Governor Lael Brainard said Tuesday that an interest rate hike is “likely appropriate soon,” but slowing inflation could change that.
Ocwen Accuses FIS in Lawsuit of Fraudulent Billing
Mortgage Daily, May 30, 2017In the midst of its own regulatory war, Ocwen Financial Corp. is accusing Fidelity Information Services LLC of fraudulent over billing for work required under a settlement with California.