Mortgage rates in the 7% range and elevated construction financing costs continue to damp builder sentiment, the National Association of Home Builders/Wells Fargo Housing Market Index reported.
Category: News and Trends
MBA Thanks Princess Mackie Book Challenge Participants
MBA launched the Princess Mackie Book Challenge to promote financial education and develop new tools and resources to help children and their families learn more about homeownership. This week, MBA would like to highlight Taylor Morrison Home Funding and McCalla Raymer Leibert Pierce LLC for participating in this initiative.
Incenter Diligence Solutions’ Pamela Hamrick–Non-QM: To QC or Not to QC?
Late last summer, Fannie Mae’s pre-funding quality control review requirements for agency loans caught the attention of an unexpected mortgage industry segment: Non-QM/Non-Agency loan originators. MBA NewsLink asked Pamela Hamrick, President of Incenter Diligence Solutions, to explain.
Quote: June 21, 2024
“Building on the improvements from late 2022, lenders improved loan quality in both Q4 2023 and for the year overall.”
–Nick Volpe, Executive Vice President of ACES Quality Management
Odeta Kushi from First American: Twin Market Dynamics Continue to Stifle Existing-Home Sales
The housing market is struggling to gain momentum with mortgage rates above their levels from a year ago. Higher rates have a dual impact on sales – pricing out buyers who lose purchasing power and keeping some potential sellers rate-locked in.
ACES: Critical Defect Rate Decreased Again in Q4 2023
ACES Quality Management, Denver, released its Mortgage QC Industry Trends report for the fourth quarter of 2023, finding that the critical defect rate decreased to 1.53%.
CBRE: Half of U.S. Hotel Investors Plan to Buy More This Year
CBRE, Dallas, reported that investors have generally positive sentiment about the hotel market this year.
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 0.9% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending June 14, 2024.
MBA Opens Doors Foundation Raises $220,000 During MBA’s Chairman’s Conference
The MBA Opens Doors Foundation announced that it raised $220,000 at its Annual Charity Wine Auction during MBA’s Chairman’s Conference in Santa Barbara, Calif.
Yardi Matrix Anticipates Minimal Rent Growth for Second Half of Year
Yardi Matrix, Santa Barbara, Calif., released its U.S. Multifamily Outlook for Summer 2024, finding that while multifamily performance continues to be strong, rent growth is likely to remain slow through the rest of the year.