The Lede

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Drop in Mortgage Applications Proves Just How Rate-Sensitive Today’s Borrowers Are
CNBC, Jan. 30, 2019--Diana OlickMortgage application volume decreased 3 percent last week from the previous week, the Mortgage Bankers Association said. The average contract interest rate for 30-year fixed-rate mortgages nudged higher to 4.76 percent from 4.75 percent.
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White House Walks Back Otting Comment on Imminent GSE Reform
HousingWire, Jan. 30, 2019--Jessica GuerinOn Tuesday the White House issued a statement that appeared to walk back Federal Housing Finance Agency Acting Director Joseph Otting's comments about taking the GSEs out of conservatorship, dampening hopes for immediate action and causing shares of both GSEs to slip 12 percent.
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Southern California Home Sales Drop 20 Percent Amid Housing Market Shift
Orange County Register, Jan. 30, 2019--Jeff CollinsSouthern California home sales fell for a fifth consecutive month in December, dropping 20.3 percent year-over-year as the once-hot 2018 housing market cooled considerably, CoreLogic reported. It was the biggest sales drop for any month in eight years.
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Is China’s Debt Crackdown Hitting California’s Commercial Real Estate Bubble?
Market Express, Jan. 30, 2019--Wolf RichterThe Chinese government is cracking down on capital flows from China to other countries, particularly to fund real estate projects. It is also cracking down on the "ballooning" debt of Chinese conglomerates, after their real estate buying spree.
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U.S. Mortgage Applications Fall as Borrowing Costs Edge Up
Reuters, Jan. 30, 2019--Richard LeongU.S. mortgage applications to buy a home and to refinance one fell for a second straight week as borrowing costs edged higher in step with higher bond yields, the Mortgage Bankers Association said on Wednesday.
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