Inside Mortgage Finance, Feb. 3, 2023–John BancroftNew issuance of agency single-family MBS fell again in January, the 10th straight monthly decline, according to just-released figures from Inside MBS & ABS.https://www.insidemortgagefinance.com/articles/226909-the-slump-persists-mbs-issuance-down-again-in-january?v=preview
Category: Top National News
A 24-Year-Old Homebuyer Whose Builder Paid for a Lower Mortgage Interest Rate Said it Was What He Needed to Purchase His First Home
Business Insider, Feb. 3, 2023–Alcynna LloydAs higher mortgage rates drag down housing demand, US homebuilders are pulling out all the stops to keep potential buyers interested in their houses.https://www.businessinsider.com/mortgage-buydowns-are-helping-buyers-afford-homeownership-2023-2
Breaking Down Ownership Costs
The Housing Scene (UExpress), Feb. 3, 2023–Lew SichelmanToo many homebuyers don’t hunt for the lowest mortgage rate. They spend weeks, sometimes months, looking for a house. But when it comes …
How the Recent Fed Rate Hike Will Affect CRE Financing
GlobeSt.com, Feb. 3, 2023–Erik ShermanYes, things can get worse, but there are still sources and opportunities, depending on the deal.https://www.globest.com/2023/02/03/how-the-recent-fed-rate-hike-will-affect-cre-financing/?
Mortgage Rates Drop to the 5% Range for the First Time Since September
CNBC, Feb. 2, 2023–Diana OlickThe housing market hasn’t seen the rate with a five handle since a brief blip in early September. Before that, it was in early August.https://www.cnbc.com/2023/02/02/mortgage-rates-five-percent-range-first-time-september.html
Nonbanks Keep Growing MSR Share, Delinquencies a Potential Concern
Inside Mortgage Finance, Feb. 2, 2023–John BancroftNonbanks continued to grow servicing market share in late 2022 as the industry braces for a potential deterioration in loan performance.https://www.insidemortgagefinance.com/articles/226888-nonbanks-keep-growing-msr-share?v=preview
Housing Market: Level of Activity is ‘Still Very Low’ But Starting to See Increase, Economist Says (VIDEO)
Yahoo! Finance, Feb. 2, 2023–David BriggsMike Fratantoni, Mortgage Bankers Association Chief Economist, joins Yahoo Finance Live to discuss MBA’s forecast for mortgage rates, the housing market, home builder sentiment and …
ICE Mortgage Technology Sees 4Q Loss, But Recurring Revenue Gains
National Mortgage News, Feb. 2, 2023–Spencer Lee (subscription)Intercontinental Exchange’s mortgage technology unit posted a fourth-quarter loss, but reported strength in sales of its Encompass loan-origination software and its pivot toward …
San Antonio’s USAA Bank Cuts Another 130 Jobs in Mortgage Group as National Housing Market Slows
San Antonio Express-News, Feb. 2, 2023–Madison Iszler, Patrick Danner (subscription)USAA Federal Savings Bank has laid off another 130 employees in its mortgage group, a result of the slowing national housing …
High Mortgage Rates: The One Reason It’s So Hard for the Fed to Shed Trillions of Dollars in Housing Debt
Dow Jones, Feb 2, 2023–Joy WiltermuthThe Federal Reserve fired off a smaller interest rate increase on Wednesday, while hinting it might soon be toning down its inflation fight, even before …