“Cash-out volumes continue to be the lion’s share of refis at roughly double that of rate/term volumes, with virtually no mortgages in the money to refinance.”
–Optimal Blue Interim CEO Scott Smith
Category: News and Trends
MBA: Commercial, Multifamily Mortgage Delinquency Rates Increased Slightly in Third Quarter
Delinquency rates for mortgages backed by commercial and multifamily properties increased during the third quarter of 2023, according to the Mortgage Bankers Association’s latest commercial real estate finance Loan Performance Survey.
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.
Dealmaker: JLL Arranges $125M For Lifestyle Retail Center in Tennessee
JLL Capital Markets, Chicago, arranged $125 million in cash-out refinancing for The Avenue Murfreesboro, a 846,500-square-foot mixed-use lifestyle center in Murfreesboro, Tenn.
Existing Home Sales Fall
Existing home sales dipped 2% in September, the National Association of Realtors reported Thursday.
ULI: Investors Can Leverage Climate Risk Disclosure Data
The Urban Land Institute, Washington, D.C., said investors can leverage the data resulting from government regulations that require real estate companies to disclose climate-related risks related to their properties and overall business models.
MBA: September New Home Purchase Mortgage Applications Increased 14.9%
The Mortgage Bankers Association Builder Application Survey data for September 2023 shows mortgage applications for new home purchases increased 14.9 percent from a year ago.
CoreLogic: Annual Single-Family Rent Growth Moderates, but Price Squeeze Persists
Annual single-family rent growth slowed to 2.9% in August, the sixteenth consecutive month of declines, according to CoreLogic, Irvine, Calif.
Celebrating 50 Years of the Certified Mortgage Banker Designation
We’re celebrating the 50th anniversary of the Certified Mortgage Banker (CMB) designation program and you too can become part of the elite group that has achieved the highest level of professional success.
Quote: Oct. 20, 2023
“Commercial property markets are working through challenges stemming from uncertainty about some properties’ fundamentals, a lack of transparency into where current property values are, and higher and volatile interest rates. The result has been a slow and steady uptick in delinquency rates, concentrated among loans facing more of those challenges.”
–Jamie Woodwell, MBA’s Head of Commercial Real Estate Research