Fortune magazine, Apr. 20, 2022–Lance LambertThe Federal Reserve is pressuring interest rates higher as tackles inflation. It’s hitting home shoppers particularly hard: The average 30-year fixed mortgage rate has shot …
Category: Top National News
Unable to Get a Mortgage, Millions of Americans Turn to Risky Lenders, But At What Cost?
USA Today, Apr. 20, 2022–Tiffany Cusaac-Smith and Romina Ruiz-GoirienaAt least one in five Americans have used alternative financing from 2009 to 2019, meaning many low-income buyers are purchasing homes at …
Bitcoin-Backed Mortgages Are Coming. Here’s What That Means for Buyers.
Barron’s, Apr. 20, 2022–Daren Fonda (subscription)Buying a house with Bitcoin as collateral may soon be possible as crypto startups try to crack the $2.6 trillion mortgage market.https://www.barrons.com/articles/bitcoin-backed-mortgages-are-coming-51650402540
MBA: ‘Remarkable’ Forbearance Recovery
Banker & Tradesman, Apr, 19, 2022The number of borrowers in forbearance has dropped in less than two years by nearly four million in what the Mortgage Bankers Association called a …
MBA President Sees Mortgage Rates Plateauing
Bloomberg Markets, Apr. 19, 2022–Taylor RiggsMBA President & CEO Bob Broeksmit, CMB, discusses economic conditions and mortgage interest rates on “Bloomberg Markets: The Close.”https://www.youtube.com/watch?v=Nm-IH8aj554
U.S. Hotels Face $21 Billion Business-Travel Shortfall in 2022
Bloomberg, Apr. 19, 2022–Alexandre TanziBusiness travel revenue for the U.S. hotel industry is expected to fall some $20.7 billion short of pre-pandemic levels this year, after an estimated $108 billion …
As Mortgage Rates Rise, Half Of Homeowners Say ‘So What?’
National Mortgage Professional, Apr. 19, 2022–Katie JensenMortgage rates are rising, but that fact is irrelevant to half (51%) of homeowners who have a rate under 4% — substantially below today’s …
Blend Lays Off 200 Workers as Mortgage Industry Sputters
HousingWire, Apr. 19, 2022–James KleimannPublicly traded mortgage tech company Blend Labs laid off 10% of its workforce amid major headwinds in the mortgage industry.https://www.housingwire.com/articles/blend-lays-off-200-workers-as-mortgage-industry-sputters/
We’re in a Housing Market Where Nobody Wants to Sell, and it Could Get Worse from Here
Fortune, Apr. 19, 2022–Tristan BoveThe housing market finally appears to be entering a cool-off period, with prices beginning to decelerate. But the number of homes for sale is still low, …
How Many Mortgage Loans Remain in Forbearance Plans?
Mortgage Professional America, Apr. 19, 2022–Candyd MendozaThe Mortgage Bankers Association recorded another month of lower forbearance rates and a higher share of overall loans and forbearance-related workout loans that are …