HousingWire, Sept. 21, 2022–Connie KimMortgage rates in the 6% range have frozen the housing market, forcing loan officers to find business outside their wheelhouses. Business is at a “dead stop,” …
Category: Top National News
Commercial/Multifamily Mortgage Market Sees Huge Growth
Mortgage Professional America, Sept. 21, 2022–Candyd MendozaThe level of commercial/multifamily mortgage debt outstanding jumped 2.3% to $4.38 trillion at the end of Q2, according to the Mortgage Bankers Association’s latest …
Mortgage Demand Rises for the First Time in Six Weeks, Despite Sharply Higher Interest Rates
CNBC, Sept. 21, 2022–Diana OlickMortgage application volume increased last week for the first time in six weeks, according to the Mortgage Bankers Association, despite a rise in interest rates. Abrupt …
Equitable Housing Plan Focuses On Green For Black Homeowners
National Mortgage Professional, Sept. 21, 2022–Steve GoodeBob Broeksmit, MBA’s president and CEO, said the goal is to bring the mortgage industry together to develop effective policies and resources that will …
What Controversy? Ginnie Chief Weighs In on Proposed Capital Rules
Inside Mortgage Finance, Sept. 21, 2022–Monica HoganFaced with a barrage of complaints regarding its proposed eligibility rules for issuer/servicers, Ginnie Mae President Alanna McCargo Tuesday declared that an “overwhelming majority” …
Why the Fed Raises Interest Rates to Deal With Inflation: WSJ Video
Wall Street Journal, Sept. 21, 2022–Video (subscription)The Federal Reserve’s main tool for managing the economy is to change the Federal Funds rate, which can affect not only borrowing costs for …
How Rapidly Rising Mortgage Rates Are Squeezing Prospective Homebuyers: ‘Do the Math’
ABC News, Sept. 21, 2022–Elizabeth Schulze and Ben GittlesonMortgage rates have more than doubled since January, lenders and real estate companies say, spurred by aggressive interest rate increases as the …
California Churches Have Space to Create Affordable Housing, But There Are Hurdles
NPR, Sept. 20, 2022–Adhiti BandlamudiThere’s a desperate need for affordable housing in California and churches have land to build on. But there are hurdles, including financing difficulties, pushback from neighbors …
Home Prices Keep Rising Amid a Seller’s Housing Market. So Why Has New Homebuilding Hit a Crawl?
USA Today, Sept. 20, 2022–Swapna Venugopal RamaswamyHome prices continue to rise in nearly all of the U.S. even as mortgage rates climb ever higher. Inventory levels – typically used by …
Chinese Firms Flee U.S. Commercial Real-Estate Market After Big Property Bets Sour
Wall Street Journal, Sept. 20, 2022–Konrad Putzier (subscription)Chinese firms for years were among the most aggressive buyers of U.S. luxury hotels, office towers and other commercial real estate. Now they …