Demographic and other changes indicate mortgage industry is at a crossroads with the way we’ve done business for years.
Category: News and Trends
Initial Claims Rise for First Time Since April
Initial claims for unemployment insurance rose for the first time in seven weeks and rose above the 400,000 mark for the first time since mid-May, the Labor Department reported Friday.
Industry Briefs June 18, 2021
Fannie Mae, Washington, D.C., said economic growth expectations for full-year 2021 were revised modestly upward to 7.1 percent, one-tenth higher than the previous forecast, due to stronger-than-expected consumer spending data year to date.
Lennar Mortgage Takes Creative Approach to Raise $62,000 for MBA Opens Doors Foundation
The MBA Opens Doors Foundation is grateful for the member company campaigns that support its mission—and for the creative approaches that companies such as Lennar Mortgage, take to help further that mission.
More than Half of Homes Selling Above List Price
The national median home-sale price hit a record high $377,200 in May, up 26% year over year, reported Redfin, Seattle.
Apartments Grow as Work from Home Spreads
RENTCafé, Santa Barbara, Calif., reported many apartments are growing larger, in part due to increased working from home.
Dealmaker: Newmark Arranges $500M Acquisition, Construction Loan for 111 Wall Street
Newmark, New York, closed a $500 million acquisition and construction loan for 111 Wall Street in Manhattan’s Financial District.
MBA Weighs In With SEC on Climate-Related Disclosures
The Mortgage Bankers Association this week urged the Securities and Exchange Commission to follow a set of guiding principles as it considers climate-related disclosures.
The State of the Nation’s Housing: Millions Face Risk of Eviction or Foreclosure
Households that weathered the pandemic without financial distress are “snapping up” the limited supply of homes for sale, pushing up prices and excluding less-affluent buyers from homeownership, the Joint Center for Housing Studies at Harvard University reported Wednesday.
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“May marked the likely peak of the blazing hot pandemic housing market, as many buyers and sellers are vaccinated and returning to pre-pandemic spending patterns. Sellers are still squarely in the drivers’ seat, but buyers have hit a limit on their willingness to pay. The affordability boost from low mortgage rates has been offset by high home price growth.”
–Taylor Marr, Lead Economist with Redfin, Seattle.