Zillow, Seattle, reported in a new survey that homeowners who have mortgage rates below 5% are nearly twice as likely to want to stay in their current home as those with rates above that threshold.
Category: News and Trends
MBA: Multifamily Lending Declined 1% in 2022 to $480 Billion
In 2022, 2,242 different multifamily lenders provided a total of $480.1 billion in new mortgages for apartment buildings with five or more units, the Mortgage Bankers Association’s annual report of the multifamily lending market said.
Quote: Aug. 2, 2023
“The decline in purchase activity was driven mainly by weaker conventional purchase application volume, as limited housing inventory and rates still close to 7 percent are crimping affordability for many potential homebuyers. The refinance market continues to feel the impact of these higher rates, and applications trailed last year’s pace by over 30 percent with many homeowners not looking for refinance opportunities.”
–MBA Vice President and Deputy Chief Economist Joel Kan
MBA Publishes Expanding Affordable Rental Housing Opportunities: A Progress Update
The Mortgage Bankers Association published a progress report on MBA 2023 Chair Matt Rocco’s priority, Affordable Rental Housing Strategy: Expanding Affordable Rental Housing Opportunities.
Industry Briefs Aug. 2, 2023
Industry briefs from LenderLogix, Snapdocs, Down Payment Resource and Guaranteed Rate.
CoreLogic: Mortgage Delinquency Rate at Record Low in May
CoreLogic, Irvine, Calif., reported in May just 2.6% of all mortgages in the U.S. were in some stage of delinquency, matching the all-time low.
Aug. 3: How to Combat Risk, Fraud and Losses in an Economic Downturn
Every mortgage lender is dealing with increased fraud and risk, especially as interest rates have skyrocketed to 7%. These challenges inevitably lead to increased losses, as profitability for mortgage lenders …
LenderLogix CEO Patrick O’Brien: Driving Down the Cost to Originate Requires Smarter Investments in Tech
Imagine expecting your favorite college football team to win a national championship with a roster comprised of only 4% scholarship players and 96% walk-ons. The scholarship investment isn’t equal to the expected outcome. The same can be said for the mortgage industry’s attitude toward technology, especially when it comes to lowering the cost to originate.
Deadline Aug. 16: Call for Speakers – MBA Accounting and Financial Management Conference 2023
MBA is preparing for the 2023 Accounting & Financial Management Conference, November 15-17, at the Hyatt Regency New Orleans, and is now accepting speaker proposals from members.
MBA Human Resources Symposium Sept. 6-7
MBA’s 2023 Human Resources Symposium is back in-person at the Hilton Arlington, Va.