New single‐family home sales fell 5.6% in October to a seasonally adjusted annual rate of 679,000, the Census Bureau reported Monday.
Category: News and Trends
Annual Single-Family Rent Growth Relaxes Again in September, CoreLogic Finds
CoreLogic, Irvine, Calif., found annual single-family rent growth dropped to the lowest point in three years in September with a 2.6% year-over-year increase.
Quote: Nov. 28, 2023
“Historically, the median sale price of a new home has been higher than that of an existing home, but that spread has steadily declined this year as the ‘rare and elusive’ existing home for sale just keeps getting more expensive. A new home provides a good alternative.”
–First American Economist Ksenia Potapov
MBA Chart of the Week: Existing Home Sales (SAAR) and Purchase Mortgage Applications (SA)
This week’s MBA Chart of the Week highlights the paths of existing home sales and purchase applications over the past five years.
ICE Mortgage Technology: How to Effectively Navigate the Evolving Mortgage Lending Regulatory Environment (Sponsored Content)
For mortgage lenders, constantly changing laws and regulations can make staying current with compliance requirements time-consuming and costly. It takes a collaborative effort to stay on top of it all, and everyone within your organization plays a crucial role.
TD Bank Survey: Homeowners Plan to Tap Into Equity for Renovations
TD Bank, Cherry Hill, N.J., released its HELOC Trend Watch survey, finding that 38% of homeowners who are renovating their properties within the next two years intend to use a home equity line of credit or home equity loan for funds.
Dealmaker: Institutional Property Advisors Closes, Finances $100M Multifamily Asset Sale
Institutional Property Advisors, Calabasas, Calif., sold Parc Broadway, a 324-unit multifamily property in Tempe, Ariz., for $100.25 million, or $309,414 per unit.
MBA Advocacy Update Nov. 27: FHFA ERCF Final Rule; VA & FHA Loss Mitigation News
This week’s top legislative and policy news from the Mortgage Bankers Association.
Today: Community Reinvestment Act: Final Regulations and What Banks Need to Know Now
The Community Reinvestment Act was enacted to encourage banks to help meet the credit needs in the communities in which they do business, especially low- and moderate-income communities. Join MBA Education and industry experts on Nov. 28 for an in-depth discussion on the primary changes Agencies made to the NPR in the final regulations.
Anne Hill from Bayview PACE: Eight Reasons Banks are Warming up to C-PACE Financing
Real estate borrowers are seeking alternative tools amid tight credit markets, and C-PACE is proving its value to the capital stack – and to bank relationships.