Commercial property market supply and demand fundamentals slipped in the third quarter, reported Moody’s Investors Service, New York.
Category: News and Trends
November Mortgage Application Payments Fall 1.8% to $1,977
Homebuyer affordability improved in November, with the national median payment applied for by mortgage applicants decreasing 1.8 percent to $1,977 from $2,012 in October, according to the Mortgage Bankers Association’s Purchase Applications Payment Index.
Industry Briefs Dec. 22, 2022: Guild Mortgage Launches Payment Advantage Program
Guild Mortgage, San Diego, introduced Payment Advantage, a new conventional loan program to help homebuyers save on their payments as rates continue to rise.
FHFA: GSEs’ 3rd Quarter Delinquency Rate, Forbearances Decline
The Federal Housing Finance Agency released its third quarter Foreclosure Prevention and Refinance Report, showing Fannie Mae and Freddie Mac completed 69,362 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,660,364 since the start of conservatorships in September 2008.
MBA Weekly Survey Dec. 21, 2022: Falling Rates Boost Refis for 2nd Straight Week
The lowest interest rates since September spurred an uptick in refinance activity for the second straight week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending December 16.
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“Slower home-price growth and a 26-basis-point decrease in mortgage rates led to a slight improvement in homebuyer affordability in November.”
–Edward Seiler, MBA Associate Vice President of Housing Economics and Executive Director of the Research Institute for Housing America.
MBA Offices Closed Dec. 26-Jan. 2
MBA offices will close on Friday, Dec. 23 at 5:00 p.m. ET and will remain closed throughout the holidays, reopening on Tuesday, Jan. 3, 2023.
MBA News Dec. 22, 2022
Today in MBA News: MBA National Advocacy Conference; MBA Education School of Loan Origination; MBA Education School of Mortgage Banking III in Miami; NMLS License Renewal period ends Dec. 31. To read more, click on today’s MBA News headline.
Shannon Faries of Land Gorilla: Expanding Construction Lending Key to Long-Term Growth
Expanding housing inventory, despite higher rates, is the only way out of the housing affordability crisis, which is why the future belongs to lenders with products to finance more building and renovation.
JT Edelen of Equifax: Trends in Employment and Credit Access: Navigating Mortgage Lending Amid Economic Uncertainty
Faced with today’s changing income and employment trends, leveraging expanded datasets can help financial institutions continue to provide fast, confident mortgage lending decisions, expand access to credit and grow their portfolios.