Mortgage applications increased 2.8% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Nov. 10, 2023.
Category: News and Trends
MBA Statement on FHFA’s 2024 Multifamily Loan Purchase Caps
MBA President and CEO Bob Broeksmit, CMB, released a statement regarding the Federal Housing Finance Agency’s announcement of the 2024 multifamily lending purchase caps for Fannie Mae and Freddie Mac (the GSEs).
MBA: Mortgage Credit Availability Increased in October
Mortgage credit availability increased in October according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association that analyzes data from ICE Mortgage Technology.
Quote: Nov. 14, 2023
“Despite the uptick in credit availability recently, we are still close to the lowest levels since 2013. Loan offerings remain narrower as lenders have reduced capacity to cope with the lower origination volumes.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
Rising Mortgage Rates Harming Housing Affordability: NAHB/Wells Fargo
Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter to its lowest level in more than a decade.
MBA Chart of the Week: Delinquency Rates by Loan Type, Conventional, FHA, VA
According to the latest MBA National Delinquency Survey, the overall delinquency rate for mortgage loans on one‐to‐four‐unit residential properties increased to 3.62% of all loans outstanding at the end of the third quarter of 2023.
Dodge Momentum Index Inches Up 1% in October
The Dodge Momentum Index improved 1% in October to 181.7 (2000=100) from the revised September reading of 180.3, according to the Dodge Construction Network, Hamilton, N.J.
End of Year Analysis: The Affordable Rental Housing Strategy
In October 2022, the Mortgage Bankers Association launched the Affordable Rental Housing Strategy under the leadership of 2023 Chairman Matt Rocco, President of Colliers Mortgage.
Nexval’s Souren Sarkar: Why to Transform Engagements With Distressed Borrowers, and How
Upgrading borrower communications represents a golden opportunity for lenders to harness new business channels and technologies that can make their entire operations run more efficiently.
TransUnion: Mortgage Originations Down Almost 37% in Third Quarter Amid Higher Credit Balances
TransUnion, Chicago, Ill., released its Q3 2023 Quarterly Credit Industry Insights Report, finding higher interest rates and prices for goods have pushed credit balances up. Simultaneously, mortgage originations–and other new credit accounts such as automobile loans–are lagging last year.