The Lede
Top National News
Mortgage Rates Drift Higher for Second Week in a Row
Washington Post, Apr. 11, 2019--Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average increased to 4.12 percent with an average 0.5 point. It was 4.08 percent a week ago and 4.42 percent a year ago. (MBA mention)
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2018 Set Record for Commercial/Multifamily Lending
Mortgage News Daily, Apr. 11, 2019--Jann SwansonCommercial and multifamily mortgage bankers closed $573.9 billion in loans during the year according to results from a Mortgage Bankers Association survey. The total represents an 8 percent increase from the volume in 2017.
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San Francisco’s Housing Market Braces for an IPO Millionaire Wave
Wall Street Journal, Apr. 11, 2019--Katherine Clarke (subscription)A rush of anticipated public offerings from tech unicorns such as Uber and Airbnb could have a major impact on one of the country's priciest cities.
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Report: Gen Z Eager to Become Homeowners
National Mortgage Professional, Apr. 11, 2019--Phil HallThe next big wave of potential homeowners, the Gen Z demographic between the ages of 18 and 23, are eager to purchase residential property, according to a Bank of America report.
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Energy Loans Plunge in Calif. After Income-Qualifying Laws Took Effect
Orange County Register, Apr. 11, 2019--Jeff LazersonPACE loans, which are added to property tax bills, fell nearly 60% after California began requiring lenders to verify homeowners can repay the debt. (MBA mention)
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White House Seeks Tighter Oversight of Regulations Issued by Fed and Other Independent Agencies
Washington Post, Apr. 11, 2019--Damian PalettaThe White House on Thursday for the first time said it was requiring the Federal Reserve and other independent agencies to submit new guidelines for review, a controversial step that has long been a goal of conservative groups.
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PIMCO Hits Secondary Market with First Non-QM Mortgage Bond Offering
HousingWire, Apr. 11, 2019--Ben LanePIMCO, once a major player in the secondary mortgage market, is making a new mortgage play, as the bond giant is about to enter the secondary market for loans that don't fit into the Qualified Mortgage box.
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Powell Maintains His Distance from Trump in Speech to House Democrats
Washington Post, Apr. 11, 2019--Mike DeBonis, Rachel BadeFederal Reserve Chair Jerome H. Powell gently asserted his independence from President Trump in a private meeting with House Democrats on Thursday night, declaring that political identification and pressures have little bearing on his decisions as head of the nation's fiscal overseer, according to multiple people in the room.
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Residential Finance News
Commercial/Multifamily News
MBA News
MISMO Spring Summit June 3-7 in Milwaukee; Registration Now Open
Registration is now open for the MISMO Spring Summit, taking place June 3-7 at the Pfister Hotel in Milwaukee.
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MBA Education School of Mortgage Banking I in Chicago May 14-17
MBA Education presents its popular School of Mortgage Banking Course I May 14-17 in Chicago.
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