NBC News, June 9, 2023-Rob WileAs the cost of living in the U.S. continues to climb, foreclosures are also on the rise.https://www.nbcnews.com/business/economy/home-foreclosures-rising-in-us-where-which-states-rcna88394
Category: Top National News
MBA: Mortgage Rates to Fall as Spread Shrinks
National Mortgage Professional, June 8, 2023- Lew SichelmanLAS VEGAS — The historic spread between the 10-year Treasury yield and 30-year mortgage rates should shrink by the end of the year, …
Jumbo Sector Takes a Hit in First Quarter
Inside Mortgage Finance, June 9, 2023–John Bancroft (subscription)Jumbo lending held up relatively well in 2022 as interest rates increased. That trend ended in the first quarter of 2023.https://www.insidemortgagefinance.com/articles/228059-jumbo-sector-takes-a-hit-in-first-quarter?
MBA: Mortgage Rates To Fall As Spread Shrinks
Mortgage Professional America, June 9, 2023–Lew SichelmanEconomists tell real estate editors to expect some improvement in the housing market in 2024. The Mortgage Bankers Association expects loan rates to average …
Proposition 19’s Death Tax Needs to Die, Readers Say
Orange County Register, June 9, 2023–Jeff LazersonThe “death tax” in Prop. 19, effective Feb. 16, 2021, has ignited a firestorm among property owners. Property rentals and second homes under the …
PGIM CEO Expects 60% of Office Buildings to Enter Purgatory
GlobeSt.com, June 9, 2023–Erik ShermanTalk about grim. PGIM Chief Executive Officer David Hunt’s take on the future of office properties is dimmer than major east coast metro skylines have been …
Rates for 30-Year and 15-Year Mortgages Dip Slightly This Week, Says Freddie Mac
Forbes, June 8, 2023–John EganAfter a three-week climb, mortgage rates have slid slightly, according to Freddie Mac. As of June 8, the interest rate for a 30-year, fixed-rate mortgage averaged …
Delinquent Office Loans at Five-Year High Trouble Commercial Mortgage Bond Market
Bloomberg, June 8, 2023-Carmen Arroyo and Scott Carpenter (subscription)Near-empty office buildings, already a problem plaguing U.S. cities, are becoming a worry for mortgage bondholders as landlords fall behind on repayments …
Fannie Mae: “It’s a Bad Time to Buy a Home but a Good Time to Sell One”
MPA, June 8, 2023-Candyd MendozaAffordability constraints continue to hold back consumers from buying homes, according to the latest Fannie Mae Home Purchase Sentiment Index (HPSI) report.https://www.mpamag.com/us/mortgage-industry/market-updates/fannie-mae-its-a-bad-time-to-buy-a-home-but-a-good-time-to-sell-one/448668
Mortgage Rates Retreat From Recent Highs
Wall Street Journal, June 8, 2023-Gina Heeb (subscription)Mortgage rates have backed off the six-month high they reached a week ago.https://www.wsj.com/livecoverage/stock-market-today-dow-jones-06-08-2023/card/mortgage-rates-retreat-from-recent-highs-XtUfNdjBpApEGelTxK1M