Apart from the fall of 2023, affordability in May reached its lowest level in over three decades. On a year-over-year basis, affordability declined by nearly 9%.
Category: News and Trends
MBA: Mortgage Applications Decrease in Latest Weekly Survey
Mortgage applications decreased 0.2 percent from one week earlier, according to the Mortgage Bankers Association’s Weekly Applications Survey for the week ending July 5, 2024.
MBA Agrees with Fed Chair Powell on the Need to Re-Propose Basel III Endgame
MBA’s President and CEO, Bob Broeksmit, CMB, issued a statement regarding Federal Reserve Chairman Jay Powell’s comments on the Basel III Endgame Proposal before the Senate Banking Committee:
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DEI Leadership Awards: Success Stories from Past Winners Webinar July 11
Annually, the Mortgage Bankers Association recognizes residential and commercial/multifamily members who show leadership in Diversity, Equity, and Inclusion (DEI) internally through market outreach efforts.
Dealmaker: JLL Secures $430M for Fairmont Austin Hotel in Texas
JLL, Chicago, arranged a $430 million refinancing for Fairmont Austin, a 37-story hotel in downtown Austin, Texas.
Nationwide: A Quarter of Retired Investors Still Paying Off Mortgages
Nationwide, Columbus, Ohio, released its annual Advisor Authority study, powered by the Nationwide Retirement Institute, finding that 26% of retired investors are still paying mortgages and 25% are paying off credit card debt.
Quality (E)valuations: Ensuring Appraisal Integrity through QC–ACES Quality Management (Sponsored)
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Quote: July 10, 2024
“We agree wholeheartedly with Fed Chair Powell’s comments that it is ‘essential’ to re-propose the flawed Basel III Endgame proposal.”
–MBA President and CEO Bob Broeksmit, CMB
Quote: July 9, 2024
“The latest affordability data presents a clear challenge for home buyers. While home prices are increasing and mortgage rates remain relatively high, these factors are making homes less affordable.”
–ATTOM CEO Rob Barber