Interest rate drops in late 2023 spurred big changes, including a 43% increase in rate/term refinance volume between November and December, according to Optimal Blue, Plano, Texas.
Category: News and Trends
MBA Continues to Cite ‘Substantial Concerns’ in Basel III NPR Comments
Following a joint comment letter with other trade groups submitted last week, the Mortgage Bankers Association also outlined more in depth concerns about the Notice of Proposed Rulemaking regarding the implementation of the final components of the Basel III standards in a separate letter Tuesday.
MBA: Delinquency Rates for Commercial Properties Increased in Fourth-Quarter 2023
Delinquency rates for mortgages backed by commercial properties increased during the fourth quarter of 2023, according to the Mortgage Bankers Association’s latest commercial real estate finance Loan Performance Survey.
Quote: Jan. 18, 2024
“If you have a remembrance of Dave, we have set up a special mailbox at RememberingDave@MBA.org. We will be sharing those notes with his friends and loved ones.”
–MBA President & CEO Robert Broeksmit, CMB
MBA’s Mike Fratantoni, Industry Execs Share 2024 Predictions, Advice
Mike Fratantoni, MBA Chief Economist and Senior Vice President of Research and Industry Technology, continued to forecast 2024 growth in both purchases and refinances while speaking on a Jan. 16 webinar panel hosted by Snapdocs, Covina, Calif.
MBA Mourns the Passing of Former President and CEO David H. Stevens, CMB
The Mortgage Bankers Association announced Jan. 17 the unexpected passing of former President and CEO David H. Stevens, CMB.
Quote
“Thanks to Secretary Fudge, we’ve helped first-time homebuyers, and we are working to cut the cost of renting. And there are more housing units under construction right now than at any time in the last 50 years.”
–President Joe Biden, discussing HUD Secretary Marcia L. Fudge
Home Builder Sentiment Surges on Falling Interest Rates
Builder confidence in the market for newly built homes climbed seven points to 44, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 10.4% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Jan. 12, 2024.
MISMO Announces 2024 Board of Directors
MISMO®, the real estate finance industry’s standards organization, announced its Board of Directors for 2024.