Sales of new single-family homes in June hit a seasonally adjusted annual rate of 697,000, according to estimates jointly released by the U.S. Census Bureau and HUD.
Category: News and Trends
Tavant’s Shannon Johnson on Rethinking HELOCs: Embracing Innovation in the Evolving Mortgage Industry
The mortgage industry has witnessed significant changes in recent years, challenging lenders and servicers to adapt to new market dynamics. As interest rates shifted, offering unique opportunities and posing new challenges, the home equity line of credit has emerged as a thought-provoking tool in the mortgage space.
Boxwood Means Finds Promising Results for Small-Cap Retail in Q2
Boxwood Means, Stamford, Conn., found small-cap retail flourished in Q2, per an analysis of CoStar occupancy data involving retail buildings under 50,000 square feet.
Mark P. Dangelo: In an AI Reimagined Financial World, It Begins with the Consumer (Part 4)
Absolutely and unequivocally the answer is AI—regardless of the technology, organizational capability, or innovation question being asked.
Mortgage Application Payments Flat in June
Homebuyer affordability was essentially flat in June, with the national median payment applied for by purchase applicants decreasing 0.1% to $2,162 from $2,165 in May, the Mortgage Bankers Association reported.
Fed Raises Key Interest Rate by 25 Basis Points
The Federal Reserve’s Federal Open Market Committee increased short-term rates at its July meeting, responding to high but moderating inflation and a job market that remains quite strong.
MBA Opposes Proposed Rulemaking Implementing Basel III Endgame and Making Changes to Capital Requirements for Banks
The Mortgage Bankers Association strongly urged federal policymakers to vote against a proposed Notice of Proposed Rulemaking implementing the Basel III “endgame” rule, which is set for consideration on July 27. The rule is expected to impose a 15 to 20 percent increase in capital requirements for larger institutions.
New Home Sales Down From May, but Up From Last Year
Sales of new single-family homes in June hit a seasonally adjusted annual rate of 697,000, according to estimates jointly released by the U.S. Census Bureau and HUD.
Quote: July 27, 2023
“The Mortgage Bankers Association strongly urges you to vote against the proposed interagency Notice of Proposed Rulemaking implementing the Basel III ‘endgame’ rule. Such a substantial hike will have both macroeconomic and sector impacts that could stunt economic growth and fundamentally shift what business lines mid-sized and regional banks will focus on.”
–MBA President and CEO Robert D. Broeksmit, CMB, in a letter to bank regulators.
MBA: Home Equity Lending Volume Rose in 2022 as Home Renovations Drive Demand
Originations of open-ended Home Equity Lines of Credit and closed-end home equity loans increased 50% in 2022 compared to two years earlier. This is according to the Mortgage Bankers Association’s Home Equity Lending Study, released for the first time since 2020.