New York Times, June 29, 2022–Conor DoughertyAs the Federal Reserve tries to fight high inflation, costly mortgage rates have begun to price people out of the housing market.https://www.nytimes.com/2022/06/29/business/economy/mortgage-rates-housing-market.html
Category: Top National News
Rising Interest Rates Put Buyers of Unfinished Homes in Financial Jeopardy
NPR, June 29, 2022–Chris ArnoldMortgage rates have been rising sharply as supply chain delays have slowed construction. That has many people in a costly bind – some can’t afford the …
Refinance Apps Are 80% Below Their 2021 Level
National Mortgage News, June 29, 2022–Spencer Lee (subscription)Mortgage activity edged up by a fraction over the holiday week, as refinances increased but now sit at just one-fifth of their volume …
Jay Powell, January 6, Real Estate And Markets
Bloomberg’s The Tape podcast, June 29, 2022–Paul Sweeney and Kriti GuptaPanelists discuss Jay Powell and other central bank leaders, and commercial real estate in a rising interest rate environment.https://www.bloomberg.com/news/audio/2022-06-29/jay-powell-january-6-real-estate-and-markets-podcast
Prestwick puts $1.6B in Mortgage Servicing Rights Up for Bid
National Mortgage News, June 28, 2022–Bonnie Sinnock (subscription)A $1.6 billion portfolio of servicing rights with some unusual geographic concentrations and a nearly 2.63% delinquency rate went up for bid Tuesday, …
Record Home Prices Force Prospective Buyers to Rent
Wall Street Journal, June 28, 2022–Will Parker and Nicole Friedman (subscription)Steeper borrowing rates and high prices in the housing market are leading many buyers to give up. That is welcome …
Expert Offers Advice for Homebuyers During Volatile Housing Market
Augusta Free Press, June 28, 2022–Crystal GrahamMortgage rates are higher than they have been since 2008, and a Virginia Tech expert says consumers shouldn’t expect rates to go down anytime …
Exclusive: New FHA Head Details Plans For More Affordable Housing And Foreclosure Prevention
Forbes magazine, June 28, 2022–Natalie Campisi, Rachel WitkowskiNewly elected Federal Housing Administration commissioner Julia Gordon is on a mission to help people access and retain affordable housing. But record-high home …
Rural Counties Are Booming, but Can It Last?
Wall Street Journal, June 28, 2022–Sarah Chaney Cambon and Andrew Mollica (subscription)The pandemic and the work-from-home movement sparked an economic resurgence in sparsely populated areas as workers fled big cities.https://www.wsj.com/articles/rural-counties-are-booming-pandemic-back-to-office-work-from-home-11656423785?
Six-Building Manhattan Multifamily Portfolio Sells For $1.75B, A Post-COVID-19 Pandemic Record
Benzinga, June 28, 2022–Phil HallA multifamily real estate portfolio consisting of six Manhattan apartment buildings has sold for $1.75 billion, the greatest sales level since the COVID-19 pandemic began.https://www.benzinga.com/news/22/06/27885618/six-building-manhattan-multifamily-portfolio-sells-for-1-75b-a-post-pandemic-record