Bloomberg, Mar. 24, 2023–Paulina CacheroWith real estate prices still elevated and borrowing costs high, paying the monthly mortgage outpaces rent more than it has since before the financial crisis.https://www.bloomberg.com/news/articles/2023-03-24/should-i-buy-a-home-mortgage-premium-vs-renting-is-highest-since-2006?srnd=premium#xj4y7vzkg
Category: Top National News
Despite Deteriorating Values, Banks Boosted MBS/ABS Holdings in 4Q22
Inside Mortgage Finance, Mar. 24, 2023–John BancroftCrumbling securities values — courtesy of higher interest rates — have whacked most categories of bank investment in structured financing, but bank holdings of …
How Bank Oversight Failed: The Economy Changed, Regulators Didn’t
Wall Street Journal, Mar. 24, 2023–Andrew Ackerman, Angel Au-Yeung, Hannah Miao (subscription)Overseers paid insufficient heed to risks of falling bond values and fleeing deposits. Social media and selling by smartphone …
National Mortgage Balances Increased by $1 Trillion in 2022
First Tuesday Journal, Mar. 24, 2023–Amy PerryIf totals impress you, U.S. mortgage balances stood at $11.92 trillion at the end of December 2022, according to the New York Federal Reserve. …
Fannie Mae Pushes Recession Start Out to 2H23
National Mortgage News, Mar. 24, 2023–Brad Finkelstein (subscription)Fannie Mae cut its mortgage origination forecast for 2023 by 8%, while reducing next year’s outlook by 7%, as it pushed out its …
What the Banking Crisis Means for Mortgage Rates
CNN, Mar. 24, 2023–Ana BahneyGenerally, home buyers can anticipate mortgage rates to move down through the rest of this year as the banking crisis drags on, which could cool down …
What The Banking Crisis Means for Mortgage Rates
CNN, Mar. 24, 2023–Anna BahneyMortgage rates have taken would-be buyers on a ride this year — and it’s only March.https://www.cnn.com/2023/03/24/homes/housing-fallout-from-banking/index.html
Extension of Rent Protections Fails in Los Angeles County
GlobeSt.com, Mar. 24, 2023–Jack RogersIn a tie vote of 2-2–with one abstention–the Los Angeles County Board of Supervisors rejected an extension of rent protections for another year and an expansion …
Commercial Real Estate is in Trouble. A Banking Crisis Will Make it Worse.
Yahoo News, Mar. 24, 2023–Dani RomeroIf there is anything commercial real estate owners don’t need right now, it’s a banking crisis.https://finance.yahoo.com/news/commercial-real-estate-is-in-trouble-a-banking-crisis-will-make-it-worse-135630056.html
Democrats, Worried About Job Losses, Push Back on More Fed Rate Hikes
The Hill, Mar. 24, 2023–Alexander BoltonSen. Elizabeth Warren (D-Mass.) is warning fellow Senate Democrats that two million Americans would lose their jobs if the Fed is successful in reaching its …