The Federal Reserve isn’t raising interest rates anytime soon, but it did suggest Wednesday that the timetable for increases could begin sooner in 2023 if economic growth and inflation continue to rise faster than expected.
Category: News and Trends
May Housing Starts Seesaw Back on Track
One step back; one step forward. Housing starts have alternated between up and down during 2021, and in keeping with the pattern, improved in May after declining in April, HUD and the Census Bureau reported Wednesday.
Dealmaker: Keystone Mortgage Corp. Arranges $26M for Mixed-Use, Office Assets
Keystone Mortgage Corp., Manhattan Beach, Calif., arranged a $21.3 million refinancing for SALT Oceanside, a mixed-use apartment/retail property in Oceanside, Calif.
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.
MBA Offices Closed Friday; MBA NewsLink will Publish
Offices of the Mortgage Bankers Association will be closed this Friday, June 18, in observance of the local Juneteenth holiday. MBA NewsLink will publish as usual.
MISMO Approves Commercial Appraisal Dataset Standard
MISMO, the real estate finance industry’s standards organization, announced availability of its updated Commercial Appraisal Dataset standard.
Quote
“Loan balances continue to rise because of a larger share of sales in the higher end of the market, as well as increased sales prices from strong demand and elevated building material costs.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
MBA Weekly Applications Survey June 16, 2021: After 3 Weeks, a Rebound
Mortgage applications rose for the first time in three weeks as key interest rates fell to their lowest level since May, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending June 11.
Jim Paolino of Mortgage Sentinel: It’s Time for Lenders to Start Planning for a Changing Market
Demographic and other changes indicate mortgage industry is at a crossroads with the way we’ve done business for years.
MISMO Launches eMortgage Technology Certification Program
MISMO®, the real estate finance industry’s standards organization, launched an eMortgage Technology Certification program to assist lenders in identifying products that comply with industry standards.