The outlook for the securitized commercial real estate market improved just slightly in the fourth quarter, the Moody’s Investors Service’s Red-Yellow-Green report said.
Category: News and Trends
MBA: February Mortgage Application Payments Up 5%
Homebuyer affordability declined in February, with the national median payment applied for by purchase applicants increasing 4.9 percent to $2,061 from $1,964 in January, according to the Mortgage Bankers Association’s monthly Purchase Applications Payment Index.
Fed Adds 25 Basis Points to Federal Funds Rate
The Federal Open Market on Wednesday raised the federal funds rate by another 25 basis points, a move widely anticipated by analysts and financial markets.
MBA Releases 2022 Rankings of Commercial/Multifamily Mortgage Firms’ Origination Volumes
The following firms were the top commercial/multifamily mortgage originators in 2022, according to a set of commercial/multifamily real estate finance league tables prepared by the Mortgage Bankers Association:
Dealmaker: Northmarq Brokers $21M in Multifamily Sales
Northmarq’s Midwest investment sales team announced $21.1 million in apartment property sales in Iowa and Missouri.
Down Payments Fall 10% from Year Ago as Housing Market Cools
Redfin, Seattle, said the typical U.S. homebuyer’s down payment fell 10% year over year in January to $42,375, its lowest level in nearly two years.
Home Flipping at 18-Year High, But Profits Drop Further
ATTOM, Irvine, Calif., reported an increase in home-flipping in 2022, but noted gross profits fell to their lowest point since 2008.
MBA Home For All Pledge Partner: Class Valuation
(One in a series of profiles of MBA member companies that have signed the MBA Home For All Pledge, an initiative to promote inclusion in housing.)
Quote: Mar. 23, 2023
“With this move from the Federal Reserve, MBA is holding to its forecast that mortgage rates are likely to trend down over the course of this year, which should provide support for the purchase market. The housing market was the first sector to slow as the result of tighter monetary policy and should be the first to benefit as policymakers slow – and ultimately stop – hiking rates.”
–MBA Chief Economist Mike Fratantoni.
MBA Weekly Survey Mar. 22, 2023: Falling Rates Drive Applications Up Third Straight Week
Mortgage interest rates fell to their lowest level since February, spurring increased application activity for the third straight week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending March 17.