Bloomberg, May 10, 2023–Prashant GopalRents for primary residences in the New York, Jersey City and Newark, New Jersey, region rose 6.1% in the 12 months through April, the biggest increase …
Category: Top National News
B of A Survey Finds Current Market Conditions Are Not a Huge Deterrent for Buyers
MortgageOrb, May 10, 2023–Michael BatesAccording to Bank of America’s new 2023 Homebuyer Insights Report, many hopeful homebuyers – especially those in their 40s and younger – are forging ahead with …
loanDepot Reports 4th Consecutive Quarterly Loss
National Mortgage Professional, May 9, 2023–David KrechevskyThe nation’s third-largest mortgage lender by funded loan volume posted its 2023 first-quarter results after the markets closed Tuesday, reporting its fourth-consecutive quarterly loss.https://nationalmortgageprofessional.com/news/loandepot-reports-4th-consecutive-quarterly-loss
The Home Buyer’s Quandary: Nobody’s Selling
Wall Street Journal, May 10, 2023–Nicole Friedman (subscription)Many are ready to move but don’t want to lose the low-rate mortgages they locked in a few years ago, crimping the supply …
Maricopa County Ranks Highest in List of Top Second Home Markets
WRE News.com, May 10, 2023–Phil HallArizona’s Maricopa County took the number one ranking in the newly published list of top U.S. markets for luxury second homes published by the real …
MSR Markdown Prompts Another Loss for United Wholesale
Inside Mortgage Finance, May 10, 2023–Brandon IveyMargins improved significantly at United Wholesale Mortgage in the first quarter of 2023 but a markdown on mortgage servicing rights led to a loss …
Commercial Real Estate Loan Originations Recorded a Big Drop in the First Quarter, Partially Due to Lack of Demand
Wealth Management, May 9, 2023–Elaine MisonzhnikA new report from the Mortgage Bankers Association (MBA) shows that its Commercial/Multifamily Mortgage Origination Index declined by 56% year-over-year in the first quarter of …
Mortgage Demand Surged After Fed Signaled Potential Pause in Rate Hikes
CNBC, May 10, 2023–Diana OlickMortgage rates fell slightly last week after the chairman of the Federal Reserve suggested a potential end to a historic string of interest rate hikes. The …
Nuveen Buys Giant New York City-Focused Affordable Housing Portfolio
Wall Street Journal, May 9, 2023–Will Parker (subscription)Nuveen, the asset management arm of Teachers Insurance and Annuity Association of America, is acquiring a more than 12,000-unit affordable housing portfolio in …
U.S. Small Business Sentiment Slumps to More than 10-Year Low
Reuters, May 9, 2023–Lucia MutikaniU.S. small business confidence fell to more than a 10-year low in April on worries about the near-term economic outlook and persistent worker shortages, but there …