Falling mortgage rates helped end a four-month decline in builder confidence, and recent economic data signal improving housing conditions heading into 2024, the National Association of Home Builders/Wells Fargo Housing Market Index reported.
Category: News and Trends
MISMO Calls for Participation in New Work Group Focusing on Fee Modernization and Standardization
MISMO®, the real estate finance industry’s standards organization, today announced a call for industry professionals to join a new development work group (DWG) that will focus on fee modernization and standardization.
MBA Advocacy Update: MBA-Supported ‘Trigger Leads’ Bill Introduced in Senate; Act Today on MBA’s MAA Call to Action
This week’s top legislative and policy news from the Mortgage Bankers Association.
Quote: Dec. 20, 2023
“With the positive news about the drop in inflation, and the FOMC projections proclaiming a pivot towards rate cuts, the 30-year fixed mortgage rate reached its lowest level since June 2023, declining to 6.83%.”
–Mike Fratantoni, MBA’s SVP and Chief Economist.
MBA: November New Home Purchase Mortgage Applications Increased 21.8%
The Mortgage Bankers Association Builder Application Survey data for November 2023 shows mortgage applications for new home purchases increased 21.8% compared from a year ago.
MBA Chart of the Week: Demographics of Potential First-Time Homebuyers
One of the main drivers for optimism is the country’s demographics. In this week’s MBA Chart of the Week, we highlight this by looking at the large cohorts of potential first-time homebuyers.
MBA NewsLink Q&A With Shelley Leonard and Greg Holmes from Xactus
MBA NewsLink recently spoke with Shelley Leonard and Greg Holmes from Xactus, a provider of verification for the mortgage industry. They discussed 2024 and what lenders can expect in the new year.
MBA: Share of Mortgage Loans in Forbearance Decreases to 0.26% in November
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 3 basis points from 0.29% of servicers’ portfolio volume in the prior month to 0.26% as of Nov. 30, 2023.
CCMS Designee Society Rebranding Highlights Community, Charitable Efforts
Industry members who achieve the Mortgage Bankers Association’s Commercial Certified Mortgage Servicing designation will now have a newly rebranded home for networking and collaboration–the CCMS Designee Society.
Industry Briefs, Dec. 20, 2023
Industry news from Ncontracts, Truv Dark Matter Technologies and DocMagic.