In its final policy meeting of an eventful year, the Federal Open Market Committee on Wednesday raised the federal funds rate for the seventh straight meeting, but by 50 basis points instead of 75 basis points, as it had for the past four times.
Category: News and Trends
Dealmaker: NewPoint Secures $12M for Affordable Housing Construction
NewPoint Real Estate Capital, Plano, Texas, provided $12 million in construction financing for The Flats at 402, a 54-unit affordable housing community to be built in Madison, Wis.
FHFA Issues 2023-2024 GSE Multifamily Housing Goals
The Federal Housing Finance Agency on Wednesday issued its final rule for Fannie Mae and Freddie Mac that establishes the benchmark levels for their 2023 and 2024 multifamily housing goals.
MISMO Names Jan Davis Acting President
MISMO®, the real estate finance industry standards organization, announced Vice President of Operations Jan Davis will serve as Acting President, following the departure of Seth Appleton, who will join U.S. Mortgage Insurers as President in early 2023.
3Q Home Flipping Declines Across U.S.; Investor Profits at 13-Year Low
ATTOM, Irvine, Calif., said third quarter home flipping activity fell from the second quarter, and investor profits fell to their lowest level since 2009.
MBA Releases Updated Affordable Housing Policy Agenda
The Mortgage Bankers Association this week released the second iteration of its Affordable Housing Policy Agenda.
Some Homeowners Ready to Move, but Feel ‘Stuck’
High mortgage rates and persistently high home prices have a majority of homeowners who want to move feeling stuck in their current homes, according to the Point Homeowner Sentiment and Moving Survey.
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“We may be near the peak rate for this cycle, now expected to be just over 5%. MBA is forecasting a recession for the first half of 2023, as the full impact of these rate hikes is absorbed throughout the economy.”
–MBA Chief Economist Mike Fratantoni.
MBA Weekly Survey Dec. 14, 2022: Applications Rebound After 2 Down Weeks
Mortgage applications rose for the first time in three weeks, despite an uptick in mortgage interest rates, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending December 9.
MBA News Dec. 15, 2022
Today in MBA News: MBA Independent Mortgage Bankers Conference; MBA Education’s Residential Future Leaders Program; School of Mortgage Banking III in Miami; MBA, CoreLogic Establish Frank Nothaft Memorial Fellowship Fund. To read more, click on today’s MBA News headline.