“After closing out 2023 at an 11-year low, home sales have begun to improve over the last two months.”
–Andy Walden, ICE Vice President of Enterprise Research Strategy
Category: News and Trends
Fannie Mae: Consumers Worry About Extreme Weather on Homes, Insurance Premiums
Nearly half of Americans surveyed expressed concern about the impact of extreme weather events on their homes–especially about excessive wind and heat–according to Fannie Mae, Washington, D.C.
Redfin Finds 78% of Baby Boomers Plan to Stay in Current Home as They Age
Redfin, Seattle, conducted a survey to determine Baby Boomers’ plans for where to live as they age. More than three-quarters said they plan to age in their homes.
Office of Management and Budget Directs Federal Agencies to Advance AI Governance; Manage AI Risks
Office of Management and Budget Director Shalanda Young directed federal agencies to advance Artificial Intelligence governance and innovation while managing risks from the use of AI in the federal government.
MeridianLink: Unmasking Hidden Costs in Your Mortgage LOS (sponsored content)
JP Kelly, SVP, Mortgage at MeridianLink®, emphasizes assessing LOS effectiveness and adapting swiftly to market changes for scalable lending.
Make Your Voice Heard through MBA Mortgage Action Alliance
The MBA Mortgage Action Alliance is a voluntary, non-partisan and free nationwide grassroots lobbying network of real estate finance industry professionals, affiliated with the Mortgage Bankers Association.
Quote: April 3, 2024
“Mortgage rates moved lower last week, but that did little to ignite overall mortgage application activity. The 30-year fixed mortgage rate declined slightly to 6.91%, while the 15-year fixed rate decreased to its lowest level in two months at 6.35%.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 0.6% from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 29, 2024.
Optimal Blue’s Melissa Leidy: Discretion or Discrimination? Lenders Face Tight Scrutiny on Pricing Concessions
A 2015 survey by Garrett, McAuley found that roughly half of respondents were monitoring fair lending compliance of their pricing concessions as expected by regulators. While the mortgage market has shifted since 2015, challenges in navigating the waters of pricing concessions and fair lending persist and could present more risk than you think.
Gen Z to Spend $145,000 on Rent by 30, RentCafe Finds
An average member of Generation Z will spend $145,000 on rent by their 30th birthday, RentCafe, Santa Barbara, Calif., found, noting millennials spent $127,000 during that period of their lives (14% less).