Industry news from Ginnie Mae, Incenter Capital Advisors, Grid151 and Avanze Tech Labs.
Category: News and Trends
Quote: Dec. 14, 2023
“It is all about the pace of cuts from here. This is good news for the housing and mortgage markets. We expect that this path for monetary policy should support further declines in mortgage rates, just in time for the spring housing market.”
–MBA SVP and Chief Economist Mike Fratantoni, discussing Wednesday’s Federal Open Market Committee decision to hold interest rates steady.
Sponsored Content from CreditXpert–If Millennials Are Not Buying Homes, Where Can Lenders Find Opportunity in this Market?
It’s common knowledge that Millennials are primed to be the next wave of homebuyers, stepping into their first homes, and laying down roots. However, a deep dive into macroeconomic data paints a very different picture.
Zillow: Monthly Mortgage Costs on Typical Purchase Down 1.5% in November
Zillow, Seattle, found in its latest market report that the monthly mortgage costs on a typical home purchase fell 1.5% from October to November–down from an October peak with costs up 9% annually and 120% over pre-pandemic rates.
MBA Weekly Survey Dec. 13: Mortgage Applications Increase
Mortgage applications increased 7.4% from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Dec. 8, 2023.
Dealmaker: iBorrow Provides $46.5M Refinancing for Industrial Portfolio
iBorrow, Los Angeles, closed a $46.5 million refinancing of a six-property industrial portfolio owned by an institutional fund.
First American’s Home Price Index Up 7.6% YoY
House prices increased 0.3 percent between October and November, according to First American Data & Analytics’ non-seasonally adjusted Home Price Index.
Sponsored Content from CreditXpert–If Millennials Aren’t Buying Homes, Where Can Lenders Find Opportunity in this Market?
It’s common knowledge that Millennials are primed to be the next wave of homebuyers, stepping into their first homes, and laying down roots. However, a deep dive into macroeconomic data paints a very different picture.
Optimal Blue: November Brings Long-Awaited Shift in Direction for Mortgage Rates
Optimal Blue, Plano, Texas, released its November Originations Market Monitor, with data showing a 10% drop in lock volume month over month.
People in the News, Dec. 13, 2023
Personnel news from FormFree, Certainty Home Lending, Argyle and DocMagic.