ValueWalk, Oct. 20, 2022–Phil HallThis week, the housing market saw a continued climb in mortgage rates while existing home sales continued falling. (MBA mention)https://www.valuewalk.com/mortgage-rates-inch-up-mortgage-applications-and-existing-home-sales-decline/
Category: Top National News
Apartment Builders Didn’t Get the Housing Slump Memo
Bloomberg, Oct. 20, 2022–Justin FoxThe housing market is in tough spot, with 30-year mortgage rates averaging more than 7%, housing starts and prices falling, and those in the know predicting …
A Recession Bellwether is Flashing Red
Politico, Oct. 20, 2022–Kate Davidson, Sam Sutton“The reality is the housing market certainly is in a recession” and is contracting rapidly, Diane Swonk — now chief economist at KPMG — …
What To Expect From Regulators Post-Midterms
GlobeSt.com, Oct. 20, 2022–Lynn PollackMike Flood of the Mortgage Bankers Association recently wrote in an analysis published by Trepp that “the most likely outcome” is a split Congress, with Republicans …
FHA Share Grew in 3Q22 Agency Purchase Lending
Inside Mortgage Finance, Oct. 20, 2022–John BancroftThe agency secondary market saw a modest increase in purchase-mortgage business from the second to the third quarter of 2022, but private mortgage insurers …
M&T Feel Effect of Mortgage Slowdown Even as Profits Grow
Buffalo News, Oct. 20, 2022–Matt GlynnThe national drop-off in mortgage applications, amid rising interest rates, is hitting home at M&T Bank, too. (MBA mention)https://buffalonews.com/business/local/m-t-feels-effects-of-mortgage-slowdown-even-as-profits-grow/article_9897f75c-4fb0-11ed-81fb-3b834d10b06b.html
Home Prices Could Fall 20% by Next Year as Mortgage Rates Hammer Market: Economist
New York Post, Oct. 20, 2022–Thomas BarrabiU.S. home prices could plunge as much as 20% within the next year as soaring mortgage rates bring the housing market to a standstill, …
President Biden’s Plan to Boost Affordable Housing is Unprecedented–and Necessary
Yahoo!Finance, Oct. 19, 2022–Janet Yellin, Marcia FudgeTreasury Secretary and HUD Secretary describe Administration’s efforts to address longer-term affordability challenges such as rising housing costs and housing supply.https://finance.yahoo.com/news/president-bidens-plan-to-boost-affordable-housing-is-unprecedented-and-necessary-160136680.html?guccounter=1
Borrowers Request Consolidation of KeyBank Data Breach Suits
National Mortgage News, Oct. 19, 2022–Andrew Martinez (subscription)Plaintiffs from six lawsuits accuse the bank and Overby-Seawell Company of negligence, among other counts, for failing to protect their mortgage information and …
CFPB Funding Method Found Unconstitutional by Federal Appeals Court
Wall Street Journal, Oct. 19, 2022–Andrew Ackerman (subscription)A federal appeals court found the U.S. Consumer Financial Protection Bureau is funded through an unconstitutional method. The decision, by a three-judge panel …