Despite a slight drop in mortgage rates, mortgage applications fell for the sixth straight week, although refinance applications ticked up, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending October 28.
Category: News and Trends
September Job Openings Surge; Construction up 0.2%
Job openings in September jumped by more than a half-million from August, showing there are 1.9 job openings for every available worker, the Bureau of Labor Statistics said Tuesday in the first of four major jobs reports this week.
CMBS Delinquency Rate Rises
DBRS Morningstar, New York, said the delinquency rate for loans packaged in commercial mortgage-backed securities rose in September for just the third time since mid-2020.
MISMO Seeks Public Comment on Application Threshold Decision Model and White Paper
MISMO®, the real estate finance industry standards organization, tseeks public comment on a new Application Threshold Decision Model and White Paper. The 30-day comment period runs through December 1.
People in the News Nov. 2, 2022: Wells Fargo Names Kristy Fercho to Lead Diversity Efforts
Wells Fargo, San Francisco, announced Kristy Fercho, head of Wells Fargo Home Lending, has been named the company’s new head of Diverse Segments, Representation and Inclusion, responsible for integrating diversity, equity and inclusion into every aspect of the company’s business and delivering marketplace and workplace outcomes.
Dealmaker: Cushman & Wakefield Advises UCLA on $80M Campus Acquisition
Cushman & Wakefield, Chicago, is representing the University of California Los Angeles as it acquires the former Marymount California University campus in Rancho Palos Verdes, Calif.
MBA Servicing Solutions Conference & Expo in Orlando Feb. 21-24
The Mortgage Bankers Associations Servicing Solutions Conference & Expo, Roadmap to Servicing Success, takes place Feb. 21-24 at the Hyatt Regency Orlando.
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“Apart from the ARM loan rate, rates for all other loan types were more than three percentage points higher than they were a year ago. These elevated rates continue to put pressure on both purchase and refinance activity and have added to the ongoing affordability challenges impacting the broader housing market, as seen in the deteriorating trends in housing starts and home sales.”
–Joel Kan, MBA Vice President and Deputy Chief Economist.
Katie Parsons of JLL on Today’s Industrial Sector
Katie Parsons is Managing Director and Head of the Industrial Sector for JLL Valuation Advisory, which conducts assignments throughout the United States across property types including warehouse/distribution centers, manufacturing, cold storage, food/beverage processing facilities, truck terminals, R&D facilities, industrial yards, business parks and airport-related facilities.
Call for Speakers: MBA Technology Solutions Conference & Expo; Deadline Nov. 4
Speaking opportunities for breakout sessions are now being accepted for The Mortgage Bankers Association’s Technology Solutions Conference & Expo 2023, taking place April 2–5 at the San Jose McEnery Convention Center in San Jose, Calif.