Forbes, Sept. 29, 2022–Brenda RichardsonThe housing market has changed considerably in recent months as higher mortgage rates, rising inflation and economic uncertainty have sidelined many buyers. At the same time, …
Category: Top National News
A Ray of Positive News: Home-Equity Originations Soar
Inside Mortgage Finance, Sept. 29, 2022–Andras Malatinszky (subscription)Residential lenders of all different stripes originated $72.0 billion of home-equity lines of credit and closed-end seconds in the April-June period, a handsome …
Landlords Skip Rent Negotiations for Warehouse Space Amid Intense Demand
GlobeSt.com, Sept. 28, 2022–Paul BergeronDemand for industrial warehouse space has grown so intense that landlords don’t have to list their available inventory, contracts are being signed that don’t begin for …
Mortgage Rates Rise to 6.7%, Highest Since 2007
Wall Street Journal, Sept. 29, 2022–Charley Grant (subscription)Mortgage rates rose to their highest level in more than 15 years, a new high since the 2008-09 financial crisis that adds pressure …
Mortgage Rates Near 7 Percent as Housing Market Keeps Cooling
Washington Post, Sept. 7, 2022–Rachel Siegel and Kathy OrtonFederal data to be released Thursday could show the effects of the Federal Reserve’s latest interest-rate hike. (MBA mention)https://www.washingtonpost.com/business/2022/09/29/mortgage-rates-fed/
Gov. Gavin Newsom Signs Bills Allowing New Housing on Commercial Property
SiliconValley.com, Sept. 29, 2022–Ethan VarianFlanked by lawmakers, housing advocates and labor leaders, California Gov. Gavin Newsom on Wednesday signed two bills making it easier to redevelop underused shopping centers, office …
U.S. in ‘New Financial Territory’ as Mortgage Rate Surges–Larry Summers
Newsweek, Sept. 28, 2022–Giulia CarbonaroEconomist and former U.S. secretary of the treasury Larry Summers said that the country has now entered “new financial territory,” as the U.S. 10-year Treasury yield …
Hurricane Ian’s Damage to Florida Homes Could Total $258.5B
National Mortgage News, Sept. 28, 2022–Maria Volkova (subscription)Hurricane Ian, a Category 4 storm, is expected to make landfall on the Florida Gulf Coast imminently. Potential damage to homes in its …
Home Buyers Face Wildest Mortgage Rate Roller Coaster In 30 Years
Financial Advisor magazine, Sept. 28, 2022–Tracey LongoHome buyers have found themselves shopping for a mortgage during the most volatile interest cycle in more than 30 years, said real estate brokerage …
Mortgage Refinancing Drops to a 22-Year Low as Interest Rates Surge Even Higher
CNBC, Sept. 28, 2022–Diana OlickApplications to refinance a home loan dropped 11% for the week and were 84% lower than the same week one year ago. (MBA mention)https://www.cnbc.com/2022/09/28/mortgage-refinancing-drops-to-a-22-year-low-.html