Wall Street Journal, Oct. 13, 2022–Anne Tergesen (subscription)Social Security checks will be 8.7% bigger in 2023, the largest cost-of-living adjustment to benefits in four decades, the Social Security Administration said …
Category: Top National News
Mortgage Rates Hit 20-Year High
CNN, Oct. 13, 2022–Anna BahneyAfter taking a breather last week, mortgage rates rose again – moving even closer to 7%. The 30-year fixed-rate mortgage averaged 6.92% in the week ending …
Mortgage Rates Come Close To 7% As Foreclosure Filings Spike
ValueWalk, Oct. 13, 2022–Phil HallThis week in the housing world, mortgage rates ascended to their highest level in 20 years, mortgage application activity remained at a quarter-century low, and foreclosure …
Office-to-Apartment Conversion Not Necessarily a Win-Win
GlobeSt.com, Oct. 12, 2022–Paul BergeronThere is often palpable excitement around the idea of converting underperforming office space into multifamily housing. However, a panel on Tuesday at the National Association of …
NAREE Report: Retail Real Estate’s Post-COVID Reinvention
Commercial Property Executive, Oct. 13, 2022–Suzann D. SilvermanRetail sector success has long required a combination of creativity and careful tracking of demographics and consumer behavior. Recovery from COVID-induced challenges has …
California-Based Summit Funding to Cut 72 Staffers
HousingWire, Oct. 12, 2022–Flávia Furlan NunesSacramento, Calif.-based mortgage lender Summit Funding Inc. plans to make a round of layoffs in late November that will affect 72 employees, according to a …
Seniors Hold Record $11.58 Trillion in Home Equity
National Mortgage News, Oct. 12, 2022–Andrew Martinez (subscription)Seniors enjoyed record rises in home equity this summer, holding an all-time high of $11.58 trillion in housing wealth in the second quarter, …
Fannie Mae ESR Group Sees ‘Modest Recession’ In Q1 2023
National Mortgage Professional, Oct. 12, 2022–Sarah WolakHigh inflation, monetary policy tightening, and a slowing housing market is still projected to tip the economy into a “modest recession” in the first …
Fed Minutes Show Concerns of More Persistent High Inflation
Wall Street Joural, Oct. 12, 2022–Nick Timiraos (subscription)Federal Reserve officials expressed concern at their meeting last month over the persistence of high inflation and expected that bringing prices and wages …
As Mortgage Rates Rise, Some People are Giving up on Owning a Home
NPR Morning Editions, Oct. 12, 2022–Chris ArnoldMortgage rates are up near 7%. That’s adding nearly $1,000 a month to the mortgage payment for a typical house, sending home ownership beyond …