National Mortgage News, Aug. 24, 2023The bottom five metropolitan areas in the ranking have an average share of mortgage purchase requests from Gen Z homebuyers of 9.29%. The average down …
Category: Top National News
If Your Rent Went to a Mortgage Instead, How Much Space Would It Buy?
New York Times, Aug. 24, 2023, Michael Kolomatsky (subscription)If you think you’re throwing away money on rent, take heart: With interest rates on 30-year fixed-rate mortgages now at 20-year highs, …
FHLBank Profits Up in 2Q; Advance Usage Declines
Inside Mortgage Finance, Dennis Hollier (subscription)Net income for the 11 Federal Home Loan Banks increased for the eighth straight quarter, to $1.84 billion in the second quarter. That’s a 21.8% …
MBA: Purchase Loan Applications at 28-Year Low
Weekly Real Estate News, Aug. 24, 2023–Phil HallMortgage application activity continued to wither as inquiries for purchase loans evaporated to a level not seen in nearly three decades, according to …
Homebuyers Are Increasingly Looking Out of Town
Money magazine, Aug. 23, 2023–Brenden RearickHomebuyers are feeling especially migratory right now. As folks jostle for the slim pickings available on the real estate market, lots of people are searching …
Bankrupt Trucker Yellow’s Real Estate Is in High Demand
The Wall Street Journal, Aug. 23, 2023-Paul Berger (subscription)The dismantling of bankrupt trucker Yellow is shaping up as a bidding battle over real estate as trucking companies look to capitalize …
Weak Existing Home Sales Bode Well for Homebuilder Stocks
The Wall Street Journal, Aug. 22, 2023-Charley Grant (subscription)The housing market is still stubbornly sluggish, and that’s working to the advantage of homebuilder stocks.https://www.wsj.com/livecoverage/stock-market-today-dow-jones-08-22-2023/card/weak-existing-home-sales-bode-well-for-homebuilder-stocks-IRcs0Fysg5xnl98RcEGP?
How High a Rate Can Housing Take?
The Wall Street Journal, Aug. 23, 2023-Justin Lahart (subscription)The highest mortgage rates in a generation should be crushing America’s home-building sector. https://www.wsj.com/economy/housing/how-high-a-rate-can-housing-take-2dea9588
Homebuying Activity Slumps to Lowest Level Since 1995
Yahoo! Finance, Aug. 23, 2023-Janna Herron and Rebecca ChenA lot of homebuyers are calling it quits after mortgage rates topped 7%.https://finance.yahoo.com/news/homebuying-activity-slumps-to-lowest-level-since-1995-110055625.html
U.S. 30-Year Mortgage Rate Soars to Highest Since 2000
Reuters, Aug. 23, 2023The interest rate on the most popular U.S. home loan last week shot to the highest since December 2000, helping drive mortgage applications to a 28-year low, …