The Conference Board, New York, said its October Consumer Confidence Index increased for the first time in four months.
Category: News and Trends
September New Home Sales Post Strong 14% Increase
New home sales jumped by 14 percent in September, HUD and the Census Bureau reported Tuesday, showing no signs of the traditional fall slowdown.
Home Prices Stay High
Reports from S&P Dow Jones Indices, New York, and the Federal Housing Finance Agency show home prices across the U.S. continued to appreciate at double-digit percentage rates.
MBA Weekly Applications Survey Oct. 27, 2021: Applications, Rates Up 2nd Straight Week
Mortgage applications rose for the second straight week—but so did interest rates, which reached a nine-month high, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending October 22.
Sun Belt Dominates Healthy Multifamily Markets
Sun Belt multifamily markets including Las Vegas, Dallas and Miami are particularly well positioned for the year ahead, said a new report from Arbor Realty Trust and Chandan Economics.
Worried about Tapering? Chris Bennett Says ‘Relax’
It’s not often the mortgage industry plays coy when it comes to certain topics, but currently, there are rumblings about the T-word – tapering. There’s a couple of misconceptions about tapering and what that might mean, especially for mortgages and mortgage-backed securities. Let’s clear those up.
Dealmaker: JLL Secures $450M for Hyatt Regency Waikiki Beach Resort & Spa
JLL, Chicago, arranged $450 million to refinance the Hyatt Regency Waikiki Beach Resort & Spa in Honolulu, Hawaii.
MISMO Seeks Public Comment on New Mortgage Insurance Estimated Rate Quote Guide
MISMO®, the real estate finance industry standards organization, seeks public comment on its new implementation guide specification that helps facilitate obtaining estimated mortgage insurance rate quotes in the JavaScript Object Notation API format.
Quote
“The increase in rates triggered the fifth straight decrease in refinance activity to the slowest weekly pace since January 2020. Higher rates continue to reduce borrowers’ incentive to refinance.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
Share of Mortgage Loans in Forbearance Decreases to 2.21%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 7 basis points to 2.21% of servicers’ portfolio volume as of October 17 from 2.28% the week before. MBA estimates 1.1 million homeowners are in forbearance plans.