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/
Category: Top National News
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 …
Distressed US Commercial Property Assets Rise to $64 Billion
Bloomberg, June 22, 2023-John GittelsohnDistress is spreading in the U.S. commercial real estate industry, with the amount of troubled assets climbing to nearly $64 billion in the first quarter of …
End of Forbearance Tests Mettle of Other Foreclosure Alternatives
National Mortgage News, June 22, 2023-Bonnie SinnockForbearance has reached the point where less than half of a percent of borrowers have it, and that means servicers will be increasingly reliant …
Deed Theft Victims Get Foreclosure Protections in New York
National Mortgage News, June 21, 2023–Brad Finkelstein (subscription)The New York State Legislature has passed a bill that enhances civil culpability for those accused of deed theft, while adding protections against …
MBA Says a Recession Still Coming This Year
Credit Union, June 21, 2023–Michael OgdenThe Mortgage Bankers Association is sticking with its forecast for a recession this year, but Chief Economist Mike Fratantoni said Wednesday it will be mild …
Can Affordable Housing be Energy Efficient? These Developers Say Yes
Energy News Network, June 22, 2023–Audrey HendersonA $5.5 million affordable housing development in Northfield, Minnesota challenges the notion that sustainability and affordability are mutually exclusive.https://energynews.us/2023/06/22/can-affordable-housing-be-energy-efficient-these-developers-say-yes/
Chopra: CFPB Wants To Simplify Servicing Rules
National Mortgage Professional, June 21, 2023–David KrechevskyConsumer Financial Protection Bureau Director Rohit Chopra says his agency intends to propose ways to “simplify and streamline mortgage servicing rules.” Chopra said the …