New York Times, Aug. 17, 2023-Mihir Zaveri (subscription)New York City officials announced plans on Thursday to ease the conversion of office buildings to housing and open manufacturing areas south of …
Category: Top National News
U.S. Housing Affordability Hits Worst Point in Nearly Four Decades
Bloomberg News, Aug. 17, 2023-Jennifer Epstein and Prashant Gopal (subscription)A recent surge in U.S. mortgage rates has pushed affordability to the lowest level in nearly four decades. For house hunters, waiting for …
Why Wall Street Is Gung-ho on the Housing Market
New York Times, Aug. 17, 2023-Andrew Ross Sorkin, Ravi Mattu, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch and Ephrat Livni (subscription) Wall Street is increasingly divided …
Average Long-Term U.S. Mortgage Rate Climbs to 7.09% This Week to Highest Level in More Than 20 Years
Associated Press, Aug. 17, 2023-Matt Ott and Alex VeigaThe average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, pushing up borrowing costs …
Cook County Loses Appeal of Lawsuit Against BofA
Inside Mortgage Finance, Aug. 17, 2023–Brandon Ivey (subscription)An effort by Cook County, Ill., to hold Bank of America accountable for vacant properties and lost tax revenue failed again Wednesday.https://www.insidemortgagefinance.com/articles/228658-cook-county-loses-appeal-of-lawsuit-against-bofa?
Why Fewer Credit Reports Could Mean More Complexity for Mortgages
National Mortgage News, Aug. 17, 2023–Bonnie Sinnock (subscription)The Federal Housing Finance Agency’s proposed timeline for a long-awaited update to mortgage credit reporting and scoring starts with what looks like a …
Too Many Vacant Lots, Not Enough Housing: The U.S. Real-Estate Puzzle
The Wall Street Journal, Aug. 17, 2023-Joe Barrett (subscription)Despite a national housing shortage, tens of thousands of empty residential lots in Chicago, Detroit, Pittsburgh and elsewhere are beyond the reach …
Housing’s Ticking Time Bomb
Politico, Aug. 16, 2023-Zach Warmbrodt A new housing market disruption is lurking on Capitol Hill.https://www.politico.com/newsletters/morning-money/2023/08/16/housings-ticking-time-bomb-00111395
Homeowners Are Tapping Into Their Home Equity to Get Cash
CNN, Aug. 16, 2023-Anna Bahney With home values remaining strong across the country, Americans are tapping into their home equity to pay for renovations and debts.https://www.cnn.com/2023/08/16/homes/home-equity-loan-demand/index.html
U.S. Mortgage Applications Contract Again as Rates Hit 22-Year High
MPA, Aug. 16, 2023-Candyd MendozaDemand for home loans contracted for the third consecutive week as the 30-year mortgage rate soared past 7%, the Mortgage Bankers Association said today.https://www.mpamag.com/us/mortgage-industry/market-updates/us-mortgage-applications-contract-again-as-rates-hit-22-year-high/456455