Solid demand, low existing inventory and improving supply chain efficiency shifted builder confidence into positive territory in June for the first time in 11 months, the National Association of Home Builders/Wells Fargo Housing Market Index reported.
Category: News and Trends
Industry Briefs June 26, 2023
Industry briefs from Mortgage Capital Trading, Truv, CoreLogic, SimpleNexus and ATTOM.
MBA Chart of the Week June 26, 2023: Annual Origination Counts
2020 and 2021 were record setting years with $4.11 trillion and $4.44 trillion in originations respectively, as the industry experienced record low mortgage rates and home price appreciation soared across the country.
MISMO Launches Private Label RMBS Specification, Implementation Guide
MISMO, the real estate finance industry’s standards organization, announced that the Private Label Residential Mortgage-Backed Securities (PL RMBS) Specification has reached “Candidate Recommendation” status, which means that it has been thoroughly reviewed by a wide range of organizations and industry participants and is available for use across the industry.
MBA Advocacy Update June 26, 2023
This week’s top legislative and policy news from the Mortgage Bankers Association.
Fitch: Commercial mREIT Sector Faces Further Pressures in 2023
Fitch Ratings, New York, said commercial mortgage real estate investment trust ratings will continue to be challenged by post-pandemic occupancy rates, “with growing recessionary risks and further deterioration of commercial real estate fundamentals.”
Quote: June 26, 2023
“The Enterprises’ serious delinquency rate declined slightly from 0.65 percent to 0.60 percent at the end of the first quarter.”
–From the Federal Housing Finance Agency’s Foreclosure Prevention and Refinance Report.
Existing Home Sales Edge Higher
Existing home sales grew 0.2% in May to a seasonally adjusted annual rate of 4.30 million, the National Association of Realtors reported Thursday.
Ksenia Potapov from First American: Millennials, Walking Around Like They Own the Place
Amid the roller coaster housing market of the past few years, National Homeownership Month presents an opportunity to examine a fundamental driver of homeownership and housing demand: demographics.
U.S. Foreclosure Activity Spikes in May
Foreclosure filings–default notices, scheduled auctions or bank repossessions–increased 7% in May from April and 14% from a year ago, reported ATTOM, Irvine, Calif.