MarketWatch, June 9, 2022–Steve GelsiAs interest rates rise, mortgage and refinance activity is falling sharply and pressuring banks and non-banks to cut costs. (MBA mention)https://www.marketwatch.com/story/layoffs-nibbling-at-mortgage-industry-as-lenders-absorb-home-finance-slowdown-11654797345
Category: Top National News
Mortgage Rates Move Higher Ahead of Federal Reserve Meeting
Washington Post, June 9, 2022–Kathy OrtonAfter wandering lower the past four weeks, mortgage rates sharply reversed course this week. According to the latest data released Thursday by Freddie Mac, the …
Ouch: A 41% Drop in Conforming Jumbos
Inside Mortgage Finance, June 9, 2022–John BancroftOriginations of big-ticket home loans declined in the first quarter, especially in the agency-jumbo market, according to an Inside Mortgage Finance analysis.https://www.insidemortgagefinance.com/articles/224849-ouch-a-41-drop-in-conforming-jumbos?v=preview
Housing Beat: Mortgage Rates Up Again, Homes With High Fire Risks Sell For More
Benzinga, June 9, 2022–Phil HallThis week in the housing market, mortgage rates resumed their upward movement, mortgage applications continued their downward movement and industry experts weighed in on the arrival …
Increasing Black Homeownership
Washington Informer, June8, 2022–Kristy FerchoMBA Chair (and CEO of Wells Fargo Home Lending) Kristy Fercho discusses how her company and MBA are working to close the homeownership gap and increase …
CHLA Takes Anti-Trust Concerns About ICE/Black Knight Merger to DOKJ
HousingWire, June 8, 2022–Georgia KromreiThe planned merger between Intercontinental Exchange Inc. and Black Knight may be subject to scrutiny from the Department of Justice and the Consumer Financial Protection Bureau …
Jump in Mortgage Rates Could Add $100,000 to Housing Costs
New York Times, June 9, 2022–Gregory SchmidtWith interest rates at 5 percent, borrowers could pay thousands in extra costs over the lifetime of a 30-year home loan, a report shows.https://www.nytimes.com/2022/06/09/realestate/mortgage-rates-housing-costs.html
Increasing Black Homeownership
Washington Informer, June8, 2022–Kristy FerchoMBA Chair (and CEO of Wells Fargo Home Lending) Kristy Fercho discusses how her company and MBA are working to close the homeownership gap and increase …
Get In. We’re Going to Save the Mall
New York Times, June 8, 2022–Alexandra LangeAs America contemplates mass mall die-off — analysts predict that a quarter of the United States’ roughly 1,000 malls will close in the next …
U.S. Wholesale inventories Increase Strongly; Sales Growth Slows
Reuters, June 8, 2022–Lucia Mutikani U.S. wholesale inventories increased slightly more than initially thought in April, suggesting that inventory investment could provide a lift to economic growth this quarter.https://www.reuters.com/markets/us/us-wholesale-inventories-revised-slightly-up-april-2022-06-08/