Mortgage applications fell again last week to their lowest levels since 2019 as mortgage interest rates pushed to highs not seen in nearly three years, the Mortgage Bankers Association reported Wednesday in its Weekly Applications Survey for the week ending Feb. 25.
Category: News and Trends
Dealmaker: Lument Closes $30M in Seniors Housing, Multifamily Transactions
Lument, New York, closed $29.5 million for seniors housing and multifamily properties in Fort Wayne, Ind. and Denver.
Hotel Recovery Likely to Continue
The hotel sector’s recovery that started last year will likely continue despite current operational hurdles, sector analysts reported.
Apply for MBA Path to Diversity Scholarship Program
The MBA Path to Diversity Scholarship Program recognizes existing industry professionals who are seeking to advance their careers through continuing education.
Construction Posts 6th Straight Monthly Gain
Monthly construction spending started the year strongly, increasing for the sixth consecutive month, the Census Bureau reported Tuesday.
CoreLogic: Home Price Appreciation at 45-Year High
CoreLogic, Irvine, Calif., said annual home price appreciation in January jumped to the highest level in at least 45 years.
Chad Whittenberg of Equifax: Providing First-Time Homebuyers With An Optimal Lending Experience
Whether verification of income, employment or assets; or payment histories tied to rent rolls and utilities like mobile phone service; by incorporating these additional data sets into the loan decisioning process, lenders gain a deeper understanding of the borrowers they serve.
Industry Briefs Mar. 2, 2022: Arch MI: Home Price Growth to Slow in 2022
Home sales, which increased more than 6% in 2021 to a 15-year high, will remain strong this year — supported by solid demographic trends and an expected increase in homes for sale, according to the winter edition of The Housing and Mortgage Market Review from Arch Mortgage Insurance Co., Greensboro, N.C.
Quote
“Mortgage rates last week reached multi-year highs, putting a damper on applications activity. Although there was an increase in government refinance applications, higher rates continue to push potential refinance borrowers out of the market.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
Kimberly Boatwright of Ncontracts: 4 Key Stages of Annual HMDA Data Lifecycle
During this time of the year, one area of compliance stands out as a focal point: HMDA.