Wall Street Journal, Nov. 17,2022–Hanna Miao (subscription)Big U.S. companies are stepping up their spending on capital projects, putting expenditures on pace to set a quarterly record even as worries about …
Category: Top National News
Mortgage Rates Drop by Largest Amount in 41 Years
Yahoo! Finance, Nov. 17, 2022–Gabriella Cruz-MartinezThe rate on the average 30-year fixed mortgage fell to 6.61% from 7.08% the week prior, according to Freddie Mac, which this week changed its …
Mortgage Company Layoffs? Yes. WARN Act Filings? Not So Much
Inside Mortgage Finance, Nov. 17, 2022–Paul MuoloOver the past year, at least 40,000 mortgage banking professionals have lost their jobs, but according to a check by Inside Mortgage Finance of …
Industrial Sales Not Immune from Impact of Higher Interest Rates
Wealth Management Real Estate, Nov. 17, 2022–Patricia Kirk Investors in the industrial sector have been more reluctant to close deals as the cost of capital rises. But given a strong …
Critics Call Federal Home Loan Bank System ‘Corporate Welfare’
National Mortgage News, Nov. 16, 2022–Kate Berry (subscription)Critics of the Federal Home Loan Bank System are claiming that the banking cooperative is receiving billions of dollars a year in corporate …
U.S. Consumers Show Strength With Jump in Retail Sales
Wall Street Journal, Nov. 16, 2022–Austen Hufford (subscription)U.S. retail sales rose sharply in October, a sign of economic strength that leaves the Federal Reserve likely to keep raising interest rates …
American Financing Corp. Laying Off Majority of its Workforce
National Mortgage News, Nov. 16, 2022–Andrew Martinez (subscription)The company is cutting 194 of its 305 employees at its Aurora, Colorado-based headquarters, it revealed in a Worker Adjustment and Retraining Notification. …
Private Mortgage Insurers Plan for Ongoing Economic Volatility
Inside Mortgage Finance, Nov. 16, 2022–Monica HoganPrivate mortgage insurers are monitoring the volatility in the housing market and taking steps to manage their risk ahead of an uptick in unemployment …
Treasury Recommends Bank Regulators Finalize Bank-Fintech Relationship Guidance
American Banker, Nov. 16, 2022–Claire Williams (subscription)The Treasury Department in a new report on financial technology urged bank regulators to finalize guidance relating to how banks manage their third party …
Freddie Mac Identifies Homeownership Hurdles for Gen Zers
MortgageOrb, Nov. 16, 2022–Michael BatesThis survey of respondents finds that the attitudes of Gen Z adults (ages 18-25) are largely positive when it comes to the idea of homeownership, though …