MReport, Sept. 22, 2022–Demetria C. LesterHomebuyer affordability improved for the third consecutive month in August, with the national median payment applied for by applicants decreasing to $1,839 from $1,844 in …
Category: Top National News
30-Year Fixed Mortgage Hits 6.29%, Double Last Year’s Average
Orange County Register, Sept. 22, 2022–Jeff LazersonIf you were to take out a $647,200 mortgage today (Freddie Mac’s maximum conforming loan amount), your principal and interest payment would be $4,002. …
Home Affordability Up For 3rd Straight Month In August
National Mortgage Professional, Sept. 22, 2022–David KrechevskuyMBA, however, says the recent stretch of modest affordability improvement likely hit a speedbump this month, as mortgage rates rose above 6%.https://nationalmortgageprofessional.com/news/home-affordability-3rd-straight-month-august
How Many Home Lenders are Losing Money? A Lot
Inside Mortgage Finance, Sept. 22, 2022–Paul MuoloAs interest rates continue to rise and originations wane, mortgage lenders across the land are grappling with an existential dilemma: How many more quarters …
Mortgage Rates Keep Climbing As More People Apply For Home Loans
ValueWalk, Sept. 22, 2022–Phil HallWhile mortgage rates continued to climb, mortgage applications shot up for the first time in six weeks. The Mortgage Bankers Association (MBA) reported the Market Composite …
Housing Paralysis Engulfs US Buyers With Prices Starting to Fall
Bloomberg, Sept. 22, 2022–Prashant Gopal, John GittelsohnThe US housing market has gone from fear of missing out to just plain fear. Prices are falling from peak levels, with expensive West …
Federal Court Shutters Sham Mortgage Relief Operation
National Mortgage Professional, Sept. 22, 2022–David KrechevskyThe Federal Trade Commission and the California Department of Financial Protection and Innovation together petitioned the court to close the numerous businesses operated under …
After Years of Low Mortgage Rates, Home Sellers Are Scarce
Wall Street Journal, Sept. 22, 2022–Nicole Friedman (subscription)Homeowners with low mortgage rates are balking at the prospect of selling their homes to borrow at much higher rates for their next …
How the Fifth Interest Hike Impacts CRE
Commercial Property Executive, Sept. 22, 2022–Jordana RothbergIndustry experts elaborate on what investors and developers can expect for the rest of this year.https://www.commercialsearch.com/news/how-the-5th-interest-hike-impacts-cre/
U.S. Bank CEOs Grilled by Congress over Economy, Consumer Protections, Russia Ties
Reuters, Sept. 21, 2022–Pete Schroeder, Lananh NguyenThe chief executives of JPMorgan, Bank of America, Citigroup, Wells Fargo and other major U.S. banks were grilled by both Democratic and Republican lawmakers …