“Housing supply and housing affordability are top of mind right now, and they remain difficult for the typical government borrower. It’s very difficult for first-time home buyers—and we serve 80 percent of the first-time buyer market. We used to be able to say that this was a ‘California thing,’ but the problem is everywhere.”
–Ginnie Mae President Alanna McCargo.
In this MBA Chart of the Week, we examine how market transitions are affecting homebuyer affordability.
MISMO®, the real estate finance industry standards organization, released an enhancement to the Industry Loan Application Dataset, an industry standard for the exchange of loan application information.
With inflation currently at 9.1% and interest rates expected to rise further, reverse mortgages could help senior borrowers with funds for living in place.
While profit margin compression impacts all lenders, smaller lenders often feel the impact more significantly. These lenders may not have the same resources or volume to bear the impact of squeezed profit margins. The question is, in the face of these obstacles, how can mortgage lenders successfully navigate the margin compression and market volatility wave?
Office absorption remains negative even though office-using employment increased by 1.9% in the first half of the year, adding 635,000 jobs, reported Cushman & Wakefield, Chicago.
On Tuesday, MBA and the California MBA submitted a letter to the California Privacy Protection Agency to express member concerns with recent proposed regulations, which will implement the California Privacy Rights Act. Also last week, FHFA announced its intent to establish a Federal Advisory Committee on Affordable, Equitable and Sustainable Housing.
Redfin, Seattle, said would-be sellers are reluctant to list their homes as they have begun to see prices come down. With few new listings, buyers’ newfound bargaining power is reaching its limit, especially now that demand has stabilized.
Good morning and happy Monday! Here’s what’s happening over the next several days:
Northmarq’s San Francisco office secured $97.7 million in acquisition financing for a six-building industrial portfolio totaling 1.05 million square feet.
