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Category: News and Trends
To the Point With Bob: Thoughts Ahead of #MBAIMB24–Consumers Benefit From Large, Diverse Collection of Mortgage Lenders
MBA President and CEO Bob Broeksmit, CMB, shares his thoughts on topics related to IMBs ahead of #MBAIMB24.
Sales Increase in Large Master-Planned Communities
New home sales in the largest master-planned communities increased by nearly 14% in 2023 compared to 2022, according to real estate consulting firm RCLCO, Bethesda, Md.
Job Market Grows by 216,000 in December
The job market held steady in December, with growth in payrolls of 216,000 and the unemployment rate unchanged at 3.7%, the U.S. Bureau of Labor Statistics reported Friday.
Fannie Mae: Survey-High Share of Consumers Expect Mortgage Rates to Fall
Fannie Mae released its Home Purchase Sentiment Index for December, highlighting a 2.9-point increase to 67.2. That jump is primarily due to the survey-high 31% of consumers who believe mortgage rates will go down over the next year.
Apartment Supply at 36-Year High in 2023, RealPage Finds
RealPage Analytics, Richardson, Texas, reported apartment supply jumped to the highest level since 1987 last year, largely due to the influx of construction projects begun a few years ago.
Quote: Jan. 9, 2024
“In today’s challenging and competitive market, seamlessly delivering the best possible loan product is so important. I look forward to gathering at the Independent Mortgage Bankers conference – and throughout 2024 – to discuss strategies, policies, and legislation that expand homeownership opportunities in a safe and responsible manner to all qualified borrowers.”
–MBA President and CEO Bob Broeksmit, CMB
U-Haul, Allied Van Lines Report Moving Trends
U-Haul, Phoenix, and Allied Van Lines, Oakbrook Terrace, Ill., each released reports on recent moving trends.
MBA Chart of the Week: Monthly Payroll Growth and Unemployment Rate
Friday’s report from the Bureau of Labor Statistics showed that the job market remained relatively strong in December, with growth in payrolls of 216,000 – just below the monthly average of 225,000 for full-year 2023.
CoreLogic: October Delinquency Rate Flat
CoreLogic, Irvine, Calif., reported 2.8% of mortgages were delinquent by 30 or more days in October; the same rate was recorded in both September 2023 and October 2022.