Mortgage applications rose for the first time in three weeks as key interest rates fell to their lowest level since May, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending June 11.
In the first of three reports this week on new home building, the National Association of Home Builders said rising material prices and supply chain shortages resulted in builder confidence dipping to its lowest level since August 2020.
Rent growth in single-family rental properties now exceeds pre-pandemic rates across all price tiers, including low-end rentals for the first time, reported CoreLogic, Irvine, Calif.
ATTOM, Irvine, Calif., reported 10,821 U.S. properties with foreclosure filings in May, down 8 percent from a month ago but up 23 percent from a year ago. Foreclosure starts, which represent the initial notice of default, grew by 36 percent year-over-year.
Commercial and multifamily mortgage debt outstanding rose by $44.6 billion or 1.1 percent in the first quarter, the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding report said.