Housing Wire, June 22, 2023-Chris Clow (subscription)The Federal Housing Finance Agency (FHFA) announced late last year that it is replacing the Classic FICO credit model used by Fannie Mae and …
Category: Top National News
Real Estate Matters: Demand for Charging Stations in Condo Buildings Grows as More Residents Buy Electric Vehicles
Chicago Tribune, June 23, 2023-Ilyce Glink and Samuel Tamkin (subscription)Over the past few years, we’ve watched the number of electric vehicles (EVs) in our neighborhood grow exponentially.https://www.chicagotribune.com/real-estate/ct-real-estate-matters-ev-charging-stations-condos-20230622-c5wutrvqwrevdolg6sdtx6s4ue-story.html
Existing Home Sales Drop 20% From Last Year
The Real Deal, June 23, 2023-Holden Walter-WarnerAs mortgage rates remain above early pandemic levels and housing inventory wanes, existing home sales are seeing a large drop.https://therealdeal.com/national/2023/06/23/existing-home-sales-drop-20-from-last-year/
The US Is Short More Than 4 Million Homes: Analysis
The Hill, June 23, 2023-Adam BarnesAmericans seeking to move out on their own outnumbered available housing by almost two to one in 2021, according to a new report.https://thehill.com/business/4064586-the-us-is-short-more-than-4-million-homes-analysis/
Planet Home Lending’s $10B MSR Buy Increases Portfolio by Over 10%
National Mortgage News, June 22, 2023–Brad Finkelstein (subscription)Planet Home Lending significantly increased the size of its mortgage servicing rights portfolio with a $10 billion bulk acquisition from Village Capital & …
FHFA Bi-Merge Credit Transition Challenges are ‘Immense,’ Housing Orgs Say
HousingWire, June 22, 2023–Chris ClowThe Federal Housing Finance Agency announced last year it is replacing the Classic FICO credit model used by Fannie Mae and Freddie Mac with the FICO …
Gov. Tony Evers Signs 5 Bills to Boost Affordable Housing. Here’s What the Measures Do
Milwaukee Journal Sentinel, June 22, 2023-Hope KarnoppMADISON–Gov. Tony Evers signed into law a package of five bills Thursday intended to increase affordable housing options and grow the workforce.https://www.jsonline.com/story/news/politics/2023/06/22/tony-evers-signs-bills-to-boost-senior-affordable-housing-development/70322501007/
Home Builders Learn to Love High Rates
Wall Street Journal, June 22, 2023-Justin Lahart (subscription)High interest rates are usually bad news for home builders. But right now, they are actually making new homes easy to sell by …
Powell Says the Fed Is ‘Very Aware’ of Problem in Commercial Real Estate
Wall Street Journal, June 22, 2023-Akane Otani (subscription)Federal Reserve Chairman Jerome Powell said Thursday that the central bank is monitoring the growing pressure the commercial real estate sector has come …
Average Long-Term US Mortgage Rate Falls to 6.67%, Third Straight Drop Since Climbing to 2023 High
Associated Press, June 22, 2023-Alex VeigaThe average long-term U.S. mortgage rate fell for the third time in as many weeks, a welcome boost for homebuyers facing a housing market that’s …