Mortgage applications decreased 2.1 percent from one week earlier, according the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending October 27, 2023.
Category: News and Trends
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Quote: Nov. 2, 2023
“The FOMC left the federal funds rate target unchanged at the November meeting and did not show any indication of a move at its next meeting in December.”
–MBA Chief Economist Mike Fratantoni
People in the News, Nov. 2, 2023
Personnel news from Cenlar, ServiceLink, Dark Matter Technologies, FormFree and Ameris Bank.
CMBS Delinquency Rate Dips, KBRA Reports
The delinquency rate among KBRA-rated commercial mortgage-backed securities dipped four basis points in October to 4.21%, the rating agency reported.
Fitch Ratings: U.S. Non-Bank Mortgage Capital ‘Resilient to Earnings Pressures’ in 2024
Fitch Ratings, New York, said it expects headwinds to continue to pressure revenue and earnings of non-bank mortgage companies next year, as origination volumes remain challenged given the higher-for-longer rate environment and industry overcapacity.
Quote: Nov. 1, 2023
“Mortgage applications declined for the third straight week as mortgage rates remained elevated, with all
rates around 30 basis points higher than they were a month ago.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist.
MBA Weekly Survey Nov. 1: Mortgage Applications Decrease
Mortgage applications decreased 2.1 percent from one week earlier, according the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending October 27, 2023.
August Indexes Show Price Gains
The Federal Housing Finance Agency released its price index for August, showing a 0.6% month-to-month gain and a 5.6% annual gain in U.S. house prices.
To the Point With Bob: FSOC’s Bid to Regulate Non-Bank Firms Will Harm Consumers, Mortgage Sector
In a new blog post, MBA President and CEO Bob Broeksmit, CMB, delves into the FSOC push to regulate non-bank firms, and how that could negatively affect the sector.