Mortgage applications rose for the first time in six weeks despite another sharp jump in mortgage interest rates, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending Sept. 16.
Category: News and Trends
MBA Honors Flagstar’s Travis Dyson, CMB, with 2022 Ken Markison Legacy Achievement Award
WASHINGTON D.C. – The Mortgage Bankers Association presented its annual Ken Markison Legacy Achievement Award to Travis Dyson, CMB, of Flagstar Bank, Troy, Mich.
Push to Modernize Spurs Industrial Construction
The advanced age of U.S. warehouses–43 years on average–is spurring record construction as big e-commerce and retail distributors demand larger, more modern facilities, reported CBRE, Dallas.
Dealmaker: M&T Realty Capital Corp. Provides $99M in Utah, Virginia
M&T Realty Capital Corp., Baltimore, provided $98.6 million for multifamily properties in Utah and Virginia.
August Housing Starts Rise; Drop in Permits Casts Shadow
The good news: August housing starts beat expectations, rising by more than 12 percent from July. The bad news: housing permits fell just as dramatically, lending uncertainty to an already volatile 2022 housing market.
Quote
“Treasury yields continued to climb higher last week in anticipation of the Federal Reserve’s September meeting, where it is expected that they will announce – in their efforts to slow inflation – another sizable short-term rate hike.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
MBA Builder Applications Survey Up 17% from July
The Mortgage Bankers Association Builder Applications Survey reported mortgage applications for new home purchases in August rose by 17 percent from July—the first monthly increase in four months—but fell by 10.1 percent from a year ago.
MBA: 2Q Commercial/Multifamily Mortgage Debt Outstanding Up by $99.5B
Commercial/multifamily mortgage debt outstanding increased by $99.5 billion (2.3 percent) in the second quarter, the Mortgage Bankers Association reported in its quarterly Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
MBA: August Share of Mortgage Loans in Forbearance Falls to 0.72%
The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans now in forbearance decreased by 2 basis points from 0.74% of servicers’ portfolio volume in the prior month to 0.72% as of August 31. MBA estimates 360,000 homeowners are in forbearance plans.
A Decade in the Making: KBRA on SFR Trends and Outlook
KBRA, New York, recently published a report, SFR Securitizations: A Decade in the Making, analyzing the sector’s evolution and growth. MBA Newslink interviewed the report’s authors about the factors driving the sector’s growth.