American Banker, Oct. 24, 2022–Kate Berry (subscription)Mortgage rates have doubled this year hitting an average of 6.94% last week, while home loan applications have fallen to their lowest level in …
Category: Top National News
Renters Hit Breaking Point in a Sudden Reversal for Landlords
Bloomberg, Oct. 24, 2022–Prashant Gopal, Paulina CacheroAfter a record surge in housing costs and ballooning expenses for everything from food to energy, America’s renters have had enough. Rent gains are …
Builders Say They’re Ready for This Housing Slowdown. ‘I’ve Learned My Lesson.’
Wall Street Journal, Oct. 24, 2022–Nicole Friedman (subscription)Meltdown of 2007-09 fostered less risky tactics; not as much debt.https://www.wsj.com/articles/home-builders-housing-slowdown-lessons-las-vegas-11666619917?mod=hp_lead_pos5
Mortgage Industry Should Shed Another 25 to 30% of Staff
National Mortgage News, Oct. 24, 2022–Brad Finkelstein (subscription)The mortgage industry still needs to wring out more capacity in order to get to where it needs to be to operate profitably, …
Wells Fargo’s CEO of Mortgage Kristy Fercho on Equity in Housing
National Mortgage News, Oct. 24, 2022 (subscription)American Banker’s Most Powerful Woman in Banking, who is also wrapping a year’s service as the Mortgage Bankers Association’s first Black chairwoman, discusses closing …
Mortgage Rates Will Fall to 5.4% as a Recession Hits the US Economy in 2023, Mortgage Bankers Association Says
Markets Insider, Oct. 24, 2022–Zahra TayebMortgage rates could fall to 5.4% by the end of next year as the Federal Reserve’s aggressive interest rate hikes will push the US economy …
MSR Transfer Pace Eases in Third Lap of a Record Year
Inside Mortgage Finance, Oct. 24, 2022–John BancroftTransfers of agency mortgage servicing rights slowed modestly in the third quarter, according to an exclusive Inside Mortgage Trends analysis. But bulk MSR sales …
Finance of America Ending Forward Mortgage Originations
National Mortgage News, Oct. 21, 2022–Andrew Martinez (subscription)Finance of America is ending its forward mortgage originations by the end of the year, a massive cost-cutting move that could come with …
Higher Interest Rates Can Take a Long Time to Bring Down Inflation
Wall Street Journal, Oct. 23, 2023–Tom Fairless (subscription)The world’s central banks raised interest rates this year at the fastest pace in decades. But those hikes work with what economists call …
Remote Work Changed Their Lives. They’re Not Going Back to the Office
Washington Post, Oct. 21, 2022–Danielle AbrilAs of late September, 21.6 million people in the United States worked remotely for five days, while 32.3 million worked at the office at least …