The Mortgage Bankers Association on Wednesday released the following statement regarding a report by The Markup, an investigative journalism group, on its "flawed analysis" of mortgage lending:
The real estate industry is long-known for stories and anecdotes that seemingly defy logic—take, for example, the burnt-out home in San Francisco that last week drew a bidding war that pushed the final price above $1 million. Now, two separate reports show despite dire warnings about climate change, properties in some of the most vulnerable spots in the nation are actually attracting more interest—and higher prices.
Moody’s Analytics REIS, New York, said the office sector is unlikely to see a massive decline in demand for space and values per square foot due to increased hybrid work-from-home arrangements.
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $2,023 on each loan they originated in the second quarter, down from $3,361 per loan in the first quarter, the Mortgage Bankers Association reported Tuesday in its Quarterly Mortgage Bankers Performance Report.
Mortgage applications increased from one week earlier as interest rates slid back toward 3 percent, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending August 20.