BREAKING NEWS
Applications Fall in MBA Weekly Survey
Mortgage applications fell by nearly 4 percent last week as interest rates crept above 3 percent for the first time in a month, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending August 13.
The National Association of Home Builders said higher construction costs and supply shortages, along with rising home prices pushed builder confidence to its lowest reading since July 2020.
TransUnion, Chicago, said the financial services industry is rebounding strongly from the early impacts of the COVID-19 pandemic, with auto, credit card, mortgage and personal loan industries exhibited renewed signs of strength at the mid-point of 2021.
CoreLogic, Irvine, Calif., said single-family rent growth reached 7.5% year-over-year in June, up from a 1.4% year-over-year increase a year ago.
This week’s MBA Chart of the Week zeroes in on households who missed rental payments in June. The chart plots a) the distribution of those households by the number of payments they have missed since the onset of the pandemic; and b) an estimate of the aggregate dollar volume of back rent owed by those households.
Mortgage applications for new home purchases decreased 27.4 percent compared to a year ago, the Mortgage Bankers Association Builder Application Survey reported.
Institutional Property Advisors, Calabasas, Calif., closed multifamily property sales totaling $173 million in California and Connecticut.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 14 basis points to 3.26% of servicers’ portfolio volume as of August 8 from 3.40% the previous week. MBA now estimates 1.6 million homeowners are in forbearance plans.
The Greater Omaha Chamber of Commerce will induct former Mortgage Bankers Association Chairman Rodrigo López, CMB, into its Omaha Business Hall of Fame at a ceremony later this month.
The Federal Housing Finance Agency released reports providing the results of the 2020 and 2021 annual stress tests Fannie Mae and Freddie Mac under the Dodd-Frank Act.
The Census Bureau last week released preliminary results from its 2020 Census, showing a United States in the midst of demographic transition.
M&A events in the Age of Industry 4.0 have moved beyond scale and into the digital clarity achieved by the combination of firms using curated data necessary to profit from vast ecosystems of financial products and services across channels and consumers. Financial and private equity firms that target and conduct due diligence solely on financial engineering will become footnotes in history.
The Mortgage Bankers Association introduces a new offering to its members -- the Diversity, Equity and Inclusion (DEI) Study -- separately designed and compiled for both the residential and commercial/multifamily sides of the real estate finance industry.
