Government Shutdown Looming – Potential Implications for the Mortgage Industry
As of this morning (Sept. 30), Congress is still debating a continuing resolution that would extend funding for federal government operations. As this is happening, federal agencies are preparing for the possibility of a shutdown when the current funding expires at 11:59 p.m. ET.
August Pending Home Sales Bounce Back
Pending home sales rebounded in August, recording significant gains after two prior months of declines, the National Association of Realtors reported Wednesday.
First American: House Prices in All 50 Top Markets More Affordable Than Boom Peaks
First American Financial Corp., Santa Ana, Calif., said while house prices have increased, house-buying power has also increased because of a long-run decline in mortgage rates and the slow, but steady growth of household income.
MBA: 2Q Commercial/Multifamily Mortgage Debt Outstanding Up 1.5%
Commercial/multifamily mortgage debt outstanding increased by $60.7 billion (1.5 percent) in the second quarter, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding report.
CMBS Delinquency Rate Shrinks, Cumulative Default Rate Increases
The commercial mortgage-backed securities delinquency rate continues to shrink, but the cumulative loan default rate increased slightly in first-half 2021, according to two new reports from S&P Global Ratings and Fitch Ratings.
