The mortgage is changing. Fast. But, says SAP Fioneer’s David Bomser, sometimes you have to go backwards to truly go forwards.
Category: News and Trends
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.
Harvard Joint Center: Remodeling Activity Likely to Decline
Spending for improvements and repairs to owner-occupied homes will likely decrease at a moderate rate over the coming year, the Joint Center for Housing Studies of Harvard University said.
DBRS Morningstar Warns About Insurance, Property Values in Coastal Areas
DBRS Morningstar, Toronto, released a new analysis warning about the impacts of climate change–including hurricanes–on property insurance in vulnerable areas. Insurance companies are exiting catastrophe-prone areas, DBRS Morningstar said, potentially leading to a decline in property values.
Sponsored Content From SAP Fioneer: How Lenders Can Reimagine Mortgages Using ERPs
The mortgage is changing. Fast. But, says SAP Fioneer’s David Bomser, sometimes you have to go backwards to truly go forwards.
CMB Society Technology Committee Quarterly Webinar: Optimizing Warehouse Expense, Nov. 15
Join warehousing experts from the Certified Mortgage Banker’s (CMB) Technology Committee on Nov. 15 for a discussion on warehousing opportunities and challenges IMBs face (relative to depositories).
ICE: Delinquencies Tick Up in September, but Foreclosures Down
Intercontinental Exchange, Atlanta, released its “first look” at September 2023 month-end mortgage performance data, finding the national delinquency rate rose to 3.29%.
ATTOM Finds Profit Margins, Homeownership Tenure, Cash Sales Up
ATTOM, Irvine, Calif., released its third-quarter 2023 U.S. Home Sales Report, showing profit margins on median-priced homes are up from the second quarter, along with other metrics such as homeownership tenure and cash sales.
Quote: Oct. 24, 2023
“The ongoing weakness in the housing market caused by high interest rates and low supply of existing homes is expected to weigh on remodeling activity next year.”
–Carlos Martín, Project Director of the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University
MBA Chart of the Week: Annual Origination Counts
Last week at the MBA Annual Convention and Expo in Philadelphia, our Research & Economics team presented the October forecast, which showed that total mortgage origination volume is expected to increase to $1.95 trillion in 2024 from the $1.64 trillion expected in 2023.