Fitch Ratings, New York, shifted its sector outlook for the U.S. title insurance market to neutral for 2024.
Category: News and Trends
Zillow: Buyer Demand Hanging Tough Despite High Rates, Seasonal Cooldown
Low inventory levels are spurring surprisingly strong housing market competition despite mortgage rates reaching 23-year highs, according to Zillow, Seattle.
Quote: Nov. 17, 2023
“Home builders have been able to temper this high-rate environment by offering buyers rate buydowns and other incentives. We estimate that the pace of home sales increased for the third straight month to a 715,000-unit annual pace – the strongest sales month since May 2023.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist
MBA: October New Home Purchase Mortgage Applications Increased 39.7%
The Mortgage Bankers Association Builder Application Survey data for October 2023 shows mortgage applications for new home purchases increased 39.7% compared from a year ago.
Home Builder Sentiment Dips Again: NAHB
Builder confidence in the market for newly built single-family homes fell six points to 34 in November, according to the National Association of Home Builders/Wells Fargo Housing Market Index, the fourth consecutive monthly drop in builder confidence.
BSI Financial Services’ Allen Price: Success of Growing Home Equity Investment Market Depends on Unique Servicing Capabilities
In the mortgage industry, what you don’t know can indeed hurt you—or at the very least, leave you trailing behind. This saying could also apply to the home equity investment (HEI) market, which has steadily gained ground over the past couple of years.
Rapidio’s Michael Tuch: Hone Your Lending Operations to Reduce Origination Costs, Strengthen Profitability
Lenders must use the current market to hone their lending operations and uncover greater efficiencies that drive stronger profitability and drive down origination costs long term.
To the Point With Bob: Proposed Capital Requirements on Big Banks Would Mean Fewer Choices, Higher Mortgage Costs
MBA President and CEO Bob Broeksmit, CMB, provides his perspective on the latest proposed capital requirement developments and their effects on the industry.
MBA Education Advantage: Learn for Less
MBA Education Advantage is an annual subscription-based training that provides your organization with unlimited access to 200-plus self-studies, complimentary seats in specific courses, discounts on designations and much more.
Dealmaker: Eastern Union Closes on $74M Refinance for New Jersey Property
Eastern Union, New York, closed on a $74.2 million transaction to refinance a construction loan for a multifamily property in northern New Jersey.