Reuters, June 16, 2023-Doyinsola Oladipo A snapshot of 15 major U.S. hotel markets shows that travel to cities is rebounding, with one notable exception: San Francisco.https://www.reuters.com/markets/us/us-hotel-markets-recover-pandemic-san-francisco-an-outlier-2023-06-16/
Category: Top National News
Buying Costs $1,000 More Per Month Than Renting
The Real Deal, June 16, 2023-Holden Walter-WarnerThe gap between renters and buyers is growing — in favor of the renters.https://therealdeal.com/national/2023/06/16/buying-costs-1000-more-per-month-than-renting/
CFPB Will Identify Ways to Simplify Mortgage Servicing Rules
HousingWire, June 15, 2023-Chris Clow (subscription)The Consumer Financial Protection Bureau (CFPB) will look for ways to streamline and simplify mortgage servicing rules in the months ahead following public comment on …
Will Homeowners’ Insurance Crisis Upend Home Sales in California?
Orange County Register, June 16, 2023–Jeff LazersonEvery buyer should be asking the seller for an insurance pre-approval or pre-qualification letter.https://www.ocregister.com/2023/06/15/will-homeowners-insurance-crisis-upend-home-sales-in-california/
A Bargain in Housing: Mortgage Bonds Yielding 5%
Barron’s, June 15, 2023-Andrew BaryThe U.S. mortgage securities market is enormous at $8 trillion, but it gets little attention from investors. That’s a mistake because yields on mortgage securities, now …
Fed’s Pause on Interest Rates is a Blow to Affordable Housing in California
CNBC, June 15 2023–Ana Teresa SoláHigh interest rates pose as a blow to affordable housing in California. “Demand is still strong for home ownership, but yes, as soon as we …
Real Estate-Related Email Fraud Costs Record Dollar Losses
National Mortgage News, June 15, 2023–Brad Finkelstein (subscription)Business email compromise scams related to real estate set a record for dollar losses in 2022, as the number of cases reported to …
$200 Million South Dakota Housing Bill’s Implementation Takes Next Baby Step to Reality
Mitchell Republic, June 15, 2023-Kai EnglischPIERRE — The South Dakota housing infrastructure megabill that was signed into legislation earlier this year has taken a step towards coming to fruition.https://www.mitchellrepublic.com/news/200-million-south-dakota-housing-bills-implementation-takes-next-baby-step-to-reality
Mortgage Rates Slide to 6.69%. Home Buyers Are Inching Back Into the Market.
Barron’s, June 15, 2023-Shaina MishkinMortgage rates fell slightly for the second week in a row in what could be a bullish sign for home sales.https://www.barrons.com/articles/mortgage-rates-slide-to-6-69-home-buyers-are-inching-back-into-the-market-48cdc9af
Mortgage Rate Relief Won’t Come Until End of 2023 (or Later), Housing Economists Say
Housing Wire, June 15, 2023-Flávia Furlan Nunes (subscription)After a slight decline this week, mortgage rates are expected to stay at their current elevated levels for a while in reaction to …