Annual U.S. single-family home price growth slowed for the twelfth straight month in May, falling to 1.4% increase year over year, reported CoreLogic, Irvine, Calif.
Category: News and Trends
MBA Weekly Survey July 12, 2023: Applications Increase
Mortgage applications increased 0.9 percent from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 7, 2023.
Demo Days: Insurance Partnerships July 20
Demo Days are designed to ensure that MBA lender and servicer members have access to the latest technologies, services, and insights from our vendor members.
Credit Score Changes Webinar Series: FICO 10T Model (July 26) and VantageScore 4.0 (July 27)
MBA Education’s Credit Score Changes Webinar Series includes webinars about FICO 10T Model on July 26 and VantageScore 4.0 on July 27.
July 12: MBA Associate Member Engagement Webinar
As a member of the Mortgage Bankers Association, you and your company are entitled to a multitude of benefits. We invite you to a complimentary webinar, Make the Most of Your MBA Membership, Wednesday, July 12th from 1:00 PM – 2:00 PM (ET) to learn more about how to make these benefits work for you.
Mortgage Credit Availability Increased in June
Mortgage credit availability increased in June according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association that analyzes data from ICE Mortgage Technology.
Quote: July 12, 2023
“Incoming economic data continue to send mixed signals about the economy, with the overall impact
leaving Treasury yields higher last week as markets expect that the Federal Reserve will need to hold
rates higher for longer to slow inflation. All mortgage rates in our survey followed suit, with the 30-year
fixed rate increasing to 7.07 percent, the highest level since November 2022.”
–MBA Vice President and Deputy Chief Economist Joel Kan
Black Knight: Home Prices Hit Record in May
Black Knight, Jacksonville, Fla., found in its Mortgage Monitor Report that its seasonally adjusted Home Price Index hit a new high in May, with the price decreases over the past year having fully reversed.
Veros Forecast Sees Western Housing Markets Struggle; Further East Markets Shine
Veros Real Estate Solutions, Santa Ana, Calif. anticipates a strengthening housing market for the next year.
First American’s Mark Fleming: Why Higher Mortgage Rates Don’t Always Lead to Declining House Prices
House prices have remained resilient, even in the face of fast-rising mortgage rates. That’s because the relationship between rising mortgage rates and home prices may not be as straightforward as many believe.