Fortune, Aug. 17, 2022–Lance LambertThe Pandemic Housing Boom has given way to the Pandemic Housing Slump. (MBA mention)https://fortune.com/2022/08/17/home-price-decline-prediction-fitch-ratings-housing-market/
Category: Top National News
Mortgage Demand Drops to a 22-Year Low as Higher Interest Rates, Inflation Crush Homebuyers
CNBC, Aug. 17, 2022–Diana OlickThe pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last …
More Troubling Signs: The Purchase Index, Homebuyers Nixing Deals
Inside Mortgage Finance, Aug. 17, 2022–Paul MuoloIt hasn’t exactly been the best summer for home lenders, with two new data points showing weakness ahead. (MBA mention)https://www.insidemortgagefinance.com/articles/225435-more-troubling-signs-the-purchase-index-homebuyers-nixing-deals?v=preview
Could There Be a CRE Upside to a Recession?
GlobeSt.com, Aug. 17, 2022–Erik ShermanNo one wants a recession, but they are part of the business cycle. The chances are reasonable that in the near- to mid-term, the U.S. could …
Is Now A Good Time To Get An ARM?
Forbes magazine, Aug. 16, 2022–Natalie CampisiAt the beginning of July, ARM applications jumped by 30% year-over-year, according to the Mortgage Bankers Association. When you consider that buying a home in …
Multifamily Lending Hit Record High in 2021
Dodd-Frank report, Aug. 16, 2022An annual report from the Mortgage Bankers Association showed a record high level of multifamily lending for 2021.https://www.doddfrankupdate.com/DFU/ArticlesDFU/Multifamily-lending-hit-record-high-in-2021-86048.aspx
MBA: Forbearance Rate for Portfolio Loans Continues Decline
Banker & Tradesman, Aug. 16, 2022The number of homeowners in forbearance continued to decline last month, and most of the forbearance exits came from portfolio loans and private-label securities, according …
Housing Market Heads Back to 2019
Washington Post, Aug. 17, 2022–Michele LernerApproximately 24 percent of homes for sale in D.C. had a price drop in June, according to data provided by Bright MLS.https://www.washingtonpost.com/business/2022/08/17/housing-market-heads-back-2019/
President Biden Signs Inflation Reduction Act
C-SPAN, Aug. 16, 2022President Biden signs into law the Inflation Reduction Act, a bill aimed at addressing high inflationary costs, imposes higher taxes on corporations, allows government to negotiate prescription …
Who’s Positioned to Capitalize on Wells Fargo’s Mortgage Retreat
HousingWire, Aug. 16, 2022–Bill ConroyThe fate of Wells Fargo & Co.’s mortgage business has been the subject of industry speculation in the wake of a Bloomberg report indicating that the …