March Existing Home Sales Drop Nearly 3%
Existing home sales fell for the second straight month in March, the National Association of Realtors reported Wednesday, as buying conditions worsened from inadequate housing supply, elevated home prices and rising mortgage interest rates.
FHA Adds 40-Year Loan Modification with Partial Claim to COVID-19 Recovery Loss Mitigation Options
The Federal Housing Administration this week published Mortgagee Letter 2022-07, Update to the COVID-19 Recovery Loss Mitigation Options, which adds to FHA’s COVID-19 Recovery Loss Mitigation Options, a loan modification with a 40-year term used together with a partial claim.
Office Pipeline Evolves Post-Pandemic
The shift to remote and hybrid work is shrinking the new office supply pipeline, but many developers believe the right project in the right location still makes sense, reported Yardi Matrix, Santa Barbara, Calif.
Housing Market Roundup Apr. 21, 2022
Here is a summary of housing/economic stories that recently came across the MBA NewsLink desk:
MBA Weekly Applications Survey April 20, 2022: Rising Mortgage Rates Push Down Applications
The highest mortgage rates in more than a decade pushed mortgage application activity down, the the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending April 15.