Weekly Real Estate News, July 13, 2023–Phil HallU.S. Sens. Mike Braun (R-IN) and Roger Marshall (R-KS) have introduced the Middle Class Borrower Protection Act to reverse the Federal Housing Finance …
Category: Top National News
Too Many Agents Spoil the Pot
Banker & Tradesman July 16, 2023–Lew SichelmanDo too many agents spoil the real estate pot? The Consumer Federation of America thinks so.https://bankerandtradesman.com/too-many-agents-spoil-the-pot/
Why Massachusetts’ Housing Supply is Locked Up
Axios, July 17, 2023–Brianna Crane, Mike DeehanMore than two-thirds of homeowners with mortgages in Massachusetts have a rate below 4%, per Redfin data shared with Axios. That’s locking homeowners in …
Buying a New Construction Home? Beware the Fine Print in Upgrades
Orange County Register, July 14, 2023–Jeff LazersonIn my experience closing hundreds of builder loans, if the sales price increases more than, say, a few thousand dollars, the builder seeks an …
Only a Tenth of Mortgages Have an Interest Rate Above 6%-That’s a Big Problem for the U.S. Housing Market
Dow Jones/MarketWatch, July 14, 2023–Aarthi Swaminathan (subscription)Only 9% of all existing mortgages in the U.S. were taken out with a rate of above 6%, according the Federal Housing Finance Agency …
Agency MBS Issuance Increases After Nine Quarterly Declines
Inside Mortgage Finance, July 14, 2023–John Bancroft (subscription)Issuance of agency mortgage-backed securities rebounded strongly in the second quarter of 2023 following nine consecutive quarters of slumping production.https://www.insidemortgagefinance.com/articles/228346-agency-mbs-issuance-increases-after-nine-quarterly-declines?
US Consumers are Feeling the Most Optimistic Since September 2021
CNN, July 14, 2023–Bryan MenaInflation’s steady slowdown in recent months has kept Americans feeling optimistic about the future.https://www.cnn.com/2023/07/14/economy/consumer-sentiment-july-pre/index.html
Florida Insurance Crisis Sparks Fears for Housing Market
NewsWeek, July 14, 2023–Anna SkinnerFarmers Insurance’s recent announcement that it would discontinue new coverage in Florida has fueled concerns from real estate experts that the end may be near for …
A New Estimate: Office Could Lose $800B in Value by 2030
GlobeSt.com, July 14, 2023–Erik ShermanA new McKinsey Global Institute report estimates that by 2030 across nine “superstar” cities — Beijing, Houston, London, New York City, Paris, Munich, San Francisco, Shanghai, …
How Some Lenders Are Managing CRE Loan Modifications
GlobeSt.com, July 14, 2023–Erik ShermanThat there was going to be trouble was obvious back in the late summer and early fall of 2022. Interest rates were climbing fast. Too many …