Sales of new single‐family houses jumped in September to a seasonally adjusted annual rate of 759,000, the U.S. Census Bureau and the Department of Housing and Urban Development reported Wednesday.
Category: News and Trends
RE/MAX: Inventory Grows for Sixth Straight Month While Sales Decline
The number of homes on the market grew month-over-month for a sixth consecutive month in September as sales declined 13.8% from August and 17.0% from a year ago, reported RE/MAX, Denver.
Quote: Oct. 27, 2023
“The first estimate of third quarter economic growth showed a strong pace of 4.9%, more than twice the rate of growth than is likely to be sustainable over time. As always, this estimate will be revised over the next two months as more data come in.”
–MBA Senior Vice President and Chief Economist Mike Fratantoni, discussing the U.S. Commerce Department’s third-quarter GDP growth report
Mortgage Application Payments Decrease to $2,155 in September
Homebuyer affordability improved slightly in September, with the national median payment applied for by purchase applicants decreasing to $2,155 from $2,170 in August.
Yardi Matrix: Student Housing Down From 2022, but Still Strong
Yardi Matrix, Santa Barbara, Calif., reported 95.1% of beds at its “Yardi 200” universities were preleased as of the end of September.
Milliman’s Ryan Huff: Does Loan Modification Help Borrowers?
With low levels of affordability, forbearance may not be sufficient to prevent future mortgage defaults and foreclosures, and alternative loss mitigation options may be required to help borrowers retain home ownership. Questions often asked in the industry on this topic are: what type and how much loss mitigation is required to prevent redefault?
MBA: Mortgage Application Payments Decrease to $2,155 in September
Homebuyer affordability improved slightly in September, with the national median payment applied for by purchase applicants decreasing to $2,155 from $2,170 in August.
MBA Weekly Survey Oct. 25: Applications Decrease Again
Mortgage applications decreased 1.0 percent from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending October 20, 2023.
Yardi Matrix: Student Housing Down From 2022, but Still Strong
Yardi Matrix, Santa Barbara, Calif., reported 95.1% of beds at its “Yardi 200” universities were preleased as of the end of September.
Milliman’s Ryan Huff: Does Loan Modification Help Borrowers?
With low levels of affordability, forbearance may not be sufficient to prevent future mortgage defaults and foreclosures, and alternative loss mitigation options may be required to help borrowers retain home ownership. Questions often asked in the industry on this topic are: what type and how much loss mitigation is required to prevent redefault?