Overall mortgage applications fell from one week earlier, although refinance applications rose slightly as interest rates fell, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending April 28.
Category: News and Trends
Home Price Appreciation at 11-Year Low
Home price reports from CoreLogic, Irvine, Calif., and Black Knight, Jacksonville, Fla., show home prices, while continuing to rise, have slowed to levels not seen since 2012.
Job Openings Fall to 2-Year Low
In the first of four major jobs reports this week, the Bureau of Labor Statistics reported job openings fell to their lowest level since April 2021.
Vote: MBA.org Finalist for Website of the Year
mba.org has been chosen as one of three finalists for the 2023 Sitefinity Website of the Year Awards. MBA members can vote to ensure mba.org is the winner.
MBA Research Roundup May 2023
Each month, MBA Research releases a roundup of recent data, activities and other pertinent developments crucial to the real estate finance industry. For more information regarding MBA Research products, click on the headline.
Toby Wells of Cornerstone Servicing on Customer Retention and Technology
Toby Wells has more than 25 years of experience in servicing, originations, capital markets and asset management. He currently serves as president of Cornerstone Servicing, Englewood, Colo., a division of Cornerstone Capital Bank SSB, Houston, a provider of mortgage servicing platforms designed to empower healthy, sustainable homeownership. He can be reached at twells@cornerstoneservicing.com.
Commercial Property Prices Down 15% From Last Year
Green Street, Newport Beach, Calif., reported its Commercial Property Price Index decreased 0.2% in March and has fallen by 15% since property prices peaked a year ago.
Dealmaker: Institutional Property Advisors Brokers $12M Grocery-Anchored Shopping Center Sale
Institutional Property Advisors, Calabasas, Calif., brokered the sale of Southwood Shops, a 107,700-square-foot Winn-Dixie-anchored shopping center in Bradenton, Fla.
CFPB Proposes New PACE Financing Rules
The Consumer Financial Protection Bureau on Monday proposed a rule to implement a congressional mandate to establish consumer protections for residential Property Assessed Clean Energy (PACE) loans.
People in the News May 3, 2023: Vanguard University Names School of Business after New American Funding’s Patty Arvielo
Vanguard University, Costa Mesa, Calif., an Hispanic-Serving Institution announced naming of the Patty Arvielo School of Business and Management; it is the first business school in the U.S. to be named after a Latina.