The headwinds facing mortgage transactions continued unabated in 2024 as home prices reached new record highs while the 30-year mortgage rate rose back over 7%. One sector that effectively dealt with these impediments was the homebuilders.
Category: News and Trends
Berkadia Poll: Expectations of Increased Multifamily Activity in 2025
Berkadia, Ambler, Pa., released its latest Multifamily Powerhouse Poll Outlook, finding that respondents expect increased multifamily transaction activity this year, driven by improving economic outlook.
Advocacy Update: REGISTER: Town Hall with MBA Leadership–The New Administration’s First 100 Days
This week’s top legislative and policy news from the Mortgage Bankers Association.
Quote of the Day
“National-level delinquency rates for December show a mortgage market with strong performance, with 97% of borrowers making on-time payments.”
— Molly Boesel, Principal Economist for CoreLogic
Dealmaker: Newmark Facilitates $450M Refinancing for Texas Office Property
Newmark, New York, facilitated a $450 million refinancing loan for an office skyscraper in Houston.
Quote of the Day
“One small surprise emerged with refinancings increasing again despite rising interest rates. That may have happened because rates started the quarter at one of the more attractive points over the past few years, suggesting that homeowners were trying to get their mortgages reset before borrowing costs went back up.”
— Rob Barber, CEO at ATTOM, on Q4 mortgage numbers
Redfin: Typical Buyer Putting Up 16.3% Down Payment
Redfin, Seattle, reported that the typical U.S. homebuyer’s down payment in December was 16.3% of the purchase price, up from 15% a year earlier.
MISMO Seeks Public Comment on New Housing Counseling Dataset Specification
MISMO, the real estate finance industry’s standards organization, announced that it is seeking public comment on a new Housing Counseling Dataset Specification (HCDS).
NAR: Pending Home Sales Drop 4.6% in January; Index at All-Time Low
The National Association of Realtors, Chicago, reported pending home sales in January from December dropped 4.6%.
ATTOM: Refinance Activity Up in Q4 Amid Continued Challenges
ATTOM, Irvine, Calif., released its fourth-quarter 2024 U.S. Residential Property Mortgage Origination Report, showing that 1.64 million mortgages secured by residential property were issued in the United States during Q4.