“MBA is pleased the House has passed this bipartisan bill that increases the availability of Low-Income Housing Tax Credits. The enhancements to the LIHTC program will improve the supply and affordability challenges in the rental market by producing an estimated 200,000 additional rental units over the next two years.”
–MBA President and CEO Bob Broeksmit, CMB, commending House of Representatives passage of H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024”
The typical U.S. luxury home sold for a record $1.17 million in the fourth quarter, up 8.8% from a year earlier, according to Redfin, Seattle.
Mortgage applications decreased 7.2% from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Jan. 26, 2024.
“Mortgage rates changed little last week, with the 30-year fixed rate at 6.78%, which is close to where it has been for the past month, but lower than the recent peak of 7.9% in October 2023.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist
The Federal Housing Finance Agency on Tuesday released the 2024 Scorecard for Fannie Mae and Freddie Mac and their joint venture, Common Securitization Solutions LLC.
Embracing digital tools can transform how mortgage professionals interact with clients, making every digital interaction feel as personal and meaningful as a handshake.
We knew it was coming—eventually. After 11 rate hikes starting in March 2022, the Fed in December 2023 signaled its intentions to lower rates through 2024. With mortgage rates already dropping, virtually everyone that bought a home in the last 18 months will benefit from a refinancing conversation with their lender.
STR, Hendersonville, Tenn., and Tourism Economics, Wayne, Pa., increased their hotel-sector growth projections–just slightly–in their new joint forecast.
The Mortgage Bankers Association’s Affordable Housing Initiative has expanded opportunities for members to stay engaged in affordable multifamily and homeownership efforts by launching an Affordable Housing Newsletter, online affordable housing communities and an Affordable Housing Insights webinar and interview series.
NEW ORLEANS–Community outreach can expand access to financial literacy, MBA 2024 Chairman Mark Jones and author and real estate broker Twala Lockett-Jones agreed here at the Mortgage Bankers Association’s Independent Mortgage Bankers conference.
