CNN, Mar. 9, 2023–Anna BahneyMortgage rates edged further toward 7%, rising for the fifth consecutive week, as the Federal Reserve suggests rate increases will continue amid stubborn inflation. While applications …
Category: Top National News
Breaking Down Biden’s Budget: Here’s What’s in It
The Hill, Mar. 9, 2023–Aris Folley, Alex GangitanoThe request details a set of ambitious proposals from the White House, ranging from plans to extend the lifetime of programs like Medicare, …
Jumbo Lending Slammed in 4Q, Agency and Non-Agency Alike…
Inside Mortgage Finance, Mar. 9, 2023–John BancroftNon-agency jumbo originations fell 36.4% from the third quarter to an estimated $56 billion in the fourth. Non-agency jumbo remains a stronghold for federally …
Report: Production of Seattle Backyard Housing ‘Exploded’ After 2019 Reforms
Capitol Hill Seattle, March 9, 2023Officials say Seattle’s reforms designed to boost the creation of so-called accessory dwelling units have succeeded with a 350% boost in production since the legislation …
Down Payment Help for Multiplex Buyers. Who Knew?
Multi-Housing News, Mar. 8, 2023–Lew SichelmanThese days, practically everyone could use a little help with their down payments and closing costs. Even folks buying their apartments instead of renting them. …
Continued Confidence in Industrial Real Estate Despite Headwinds
Wealth Management Real Estate, March 9, 2023–Beth Mattson-TeigDespite strong fundamentals that are continuing to position industrial as one of the most favored property sectors, rising capital costs and slowing economic …
Even Wealthy Landlords Are Skipping Payments on Office Buildings
Bloomberg, Mar. 9, 2023–Natalie Wong, John GittelsohnWall Street titans pride themselves on knowing when to take risks, especially in moments of uncertainty. But as borrowing costs soar and the work-from-home …
Here’s How Sharply Mortgage Refinancing Has Dropped
Yahoo!Finance, Mar. 8, 2023–Gabriella Cruz-MartinezTo say home refinancing activity is a sliver of what it was two years ago is no exaggeration. (MBA mention)https://finance.yahoo.com/news/heres-how-sharply-mortgage-refinancing-has-dropped-off-213344221.html
Silvergate Bank Says It’s Self-Liquidating, Winding Down Operations
National Mortgage News, Mar. 8, 2023–Kate Berry (subscription)The state-chartered Silvergate Bank, based in La Jolla, Calif., ran into trouble last year after crypto companies removed deposits following the collapse of …
Fed Still Up in the Air on Whether to Speed Up Rate Hikes, Powell Says
Reuters, Mar. 8, 2023–Howard Schneider, Lindsay DunsmuirFederal Reserve Chair Jerome Powell on Wednesday reaffirmed his message of higher and potentially faster interest rate hikes, but emphasized that debate was still …