Mortgage applications took a tumble this week as key interest rates jumped to their highest level since January amid increased economic turmoil, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending March 20.
The Mortgage Bankers Association and and other industry trade groups yesterday asked regulators for “immediate support” of commercial and multifamily mortgage markets.
The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a “Call to Action” this week in support of recently introduced legislation that would allow notaries in states without enacted remote online notarization laws to perform RON transactions.
The Mortgage Bankers Association and other industry trade groups this week asked the Treasury Department and the Internal Revenue Service to delay deadlines applicable to like-kind exchanges currently underway to ensure liquidity in real estate markets during the coronavirus pandemic.
February new home sales dipped a bit, HUD and the Census Bureau reported yesterday. Sales of new single-family houses came in at a seasonally adjusted annual rate of 765,000, down by 4.4 percent from the revised January rate of 800,000, but 14.3 percent higher than a year ago (669,000).