Weekly Real Estate News, July 19, 2023–Phil HallSan Francisco Mayor London Breed has a solution for the glut of empty offices in her city: turn them into classrooms. The San …
Category: Top National News
Selling Your Home Is Getting More Profitable Again
Wall Street Journal, July 20-Ben Eisen (subscription)People are pocketing more money selling their homes again.https://www.wsj.com/livecoverage/stock-market-today-dow-jones-07-20-2023/card/selling-your-home-is-getting-more-profitable-again-DKm9V6ZgQqhdOOLqYMC1
Housing’s Recession Already Happened
Wall Street Journal, July 20, 2023-Justin Lahart (subscription)A lot of people still expect the U.S. to fall into a recession. But for the housing market, the recession could already be …
Mortgage Rates Fall by Most Since March
Wall Street Journal, July 20, 2023-Gina Heeb (subscription)Mortgage rates fell, logging the largest decline since this spring.https://www.wsj.com/livecoverage/stock-market-today-dow-jones-07-20-2023/card/mortgage-rates-fall-by-most-since-march-hzzZcqsEcSvYn5evwFCi
Biden Administration Takes Aim At ‘Junk Fees’ For Rental Housing
BisNow, July 20, 2023-Maddy McCartyIn a bid to lower costs for renters and increase transparency, the White House is calling on landlords and rental housing platforms to cut down on …
Mortgage Demand Rebounds Slightly as Rates Slip
MPA, July 20, 2023-Candyd Mendoza The volume of U.S. mortgage applications increased 1.1% as interest rates dipped slightly last week, the Mortgage Bankers Association reported Wednesday.https://www.mpamag.com/us/mortgage-industry/market-updates/mortgage-demand-rebounds-slightly-as-rates-slip/453370
Employee Buyout Offers Return at Rocket Mortgage
Crain’s Detroit, July 20, 2023 (subscription)Rocket Mortgage and its affiliated companies continue to seek to trim headcount amid a challenging home lending market by offering buyouts.https://www.crainsdetroit.com/real-estate/employee-buyout-offers-return-rocket-mortgage
New Capital Rules May Increase Risk Weighting for Servicing: BTIG
National Mortgage News, July 19, 2023–Bonnie Sinnock (subscription)The pending reform of depository capital rules has the potential for making it even tougher for banks to hold mortgage servicing rights, according …
Homeowners Don’t Want to Sell, So the Market for Brand-New Homes Is Booming
Wall Street Journal, July 19, 2023-Nicole Friedman (subscription)Millions of American homeowners have been reluctant to sell because they can’t afford to give up the low mortgage rates they have now.https://www.wsj.com/articles/new-home-sales-boom-builders-6c736630
Developers Forecast Major Affordable Housing Drought in 2025
Bloomberg News, July 19, 2023-Kriston CappsThe pace of new construction looks to change dramatically over the next two years — especially for affordable housing. Developers see a massive shortage ahead, …