Mortgage applications fell again last week despite an uptick in purchase applications and even as the 30-year fixed mortgage rate dropped to a record low, the Mortgage Bankers Association reported in its Weekly Mortgage Applications Survey for the week ending April 24.
Category: News and Trends
Mortgage Applications Down Again in MBA Weekly Survey
Mortgage applications fell again last week despite an uptick in purchase applications and even as the 30-year fixed mortgage rate dropped to a record low, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending April 24.
Homeownership Rate Ticks Up to 65.3%
Pre-coronavirus, the nation’s homeownership continued its recovery in the first quarter, rising by 1.1 percent from a year ago to 65.3 percent, the Census Bureau reported yesterday.
Dealmaker: Transwestern Brokers Six Office Properties for More than $80M
Transwestern Real Estate Services brokered disposition of six office properties in Huntsville, Ala., totaling 1.03 million square feet for more than $80 million.
February Home Prices Increase by 4.2% Annually
S&P Dow Jones Indices, New York, said its CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 4.2% annual gain in February, up from 3.9% in January.
To the Point with Bob: Repayment Options Are Crucial to Forbearance Strategy
In his latest blog, Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, discusses the importance of repayment options as lenders and consumers work together on forbearance strategies.
April Consumer Confidence Takes Another Dive
The Conference Board, New York, said its Consumer Confidence Index deteriorated further in April, following a sharp decline in March. The Index now stands at 86.9, its lowest level since 2014, down from 118.8 in March and 130.7 in February.
Andrew Foster: Case-By-Case–Commercial Mortgage Forbearance Consideration Begins
While the hope remains that the recession will be short-lived with a strong recovery in the second half of 2020, commercial real estate typically lags the broader economy.
MBA Launches Advocacy Ad Campaign
The Mortgage Bankers Association yesterday launched a print and advertising campaign targeting Capitol Hill lawmakers, Washington “influencers” and consumers.
Paul Anselmo: The Moment Has Arrived for Remote Closings
As the real estate industry eyes its way forward through a new era of social isolation, one of the most pressing challenges has become how to close loans safely. To be sure, the traditional loan closing has gone from a celebratory event that takes place in person between title agents, notaries and borrowers to a legitimate health hazard.