Weekly Real Estate News, July 26, 2023–Phil HallU.S. residential rent prices were down 1% year-over-year in June, according to new data from Realtor.com.https://wrenews.com/realtor-com-rent-prices-down-1-in-june/?
Category: Top National News
Indiana and Midwest Take Top Slots in WSJ/Realtor.com Housing Index
Wall Street Journal, July 26, 2023-Nicole Friedman (subscription)Lafayette, Ind., held its spot at the top of The Wall Street Journal/Realtor.com Emerging Housing Markets Index for the third straight quarter as …
Purchase-Loan Activity Falls to Lowest Mark in Over a Month
National Mortgage News, July 26, 2023-Spencer LeePurchase-loan application volume dropped to its lowest level in over a month, bringing overall activity downward for the first time in three weeks, according …
How Hedge Funds Would Trade Global Real Estate Woes
Reuters, July 26, 2023-Nell Mackenzie and Carolina MandlProperty markets knocked by high interest rates and the end of cheap financing have caught the eye of hedge funds.https://www.reuters.com/markets/how-hedge-funds-would-trade-global-real-estate-woes-2023-07-26/
Mr. Cooper Boosts Q2 Profits to $142M as Servicing Business Grows
HousingWire, July 26, 2023-Flávia Furlan Nunes (subscription) In acquisition mode, Mr. Cooper Group continued to improve its profitability, beating analysts’ expectations in the second quarter of 2023.https://www.housingwire.com/articles/mr-cooper-boosts-q2-profits-to-142m-as-servicing-business-grows/
Multifamily Syndicators Face CRE Debt Exposure
GlobeSt.com, July 26, 2023–Erik ShermanWhen fighting the potential economic collapse of the pandemic turned into a zero interest rate policy, the result fanned commercial real estate development in all ways, …
Large GSE Servicers Gain Share in Second Quarter
Inside Mortgage Finance, July 26, 2023–Dennis Hollier (subscription)The 25 largest GSE servicers handled 73.7% of the servicing volume as of the end of June, up from a 72.9% share at …
Apartment Developers Turn to Non-Bank Lenders for Construction Loans
Wealth Management Real Estate, July 26, 2023–Bendix AndersonApartment developers are finding ways to pay for new construction projects–without using loans from traditional banks.https://www.wealthmanagement.com/finance-lending/apartment-developers-turn-non-bank-lenders-construction-loans?
Shopping For a Home? There’s a Lot Working Against You Right Now
CNN, July 26, 2023–Anna BahneySo many things are working against would-be home buyers this summer. The housing market remains stuck, with sales pushed lower by a lack of both affordability …
MBA Expects Smaller Mortgage Rebound, CUs May See Better 2024
Credit Union Times, July 25, 2023–Jim DuPlessisThe Mortgage Bankers Association’s latest monthly forecast showed it again lowering its expectations for production in the second half of 2023, but is now …