MBA Advocacy Update Aug. 1, 2022
Activities of note on Capitol Hill:
Last Wednesday night, Senator Joe Manchin, D-W.V., Senate Majority Leader Chuck Schumer, D-N.Y., and the White House reached agreement on a $740 billion reconciliation package, giving Senate Democrats another chance to enact broad climate and tax code changes before the end of Fiscal Year 2022.
MBA Chart of the Week July 29, 2022: Performance of Post-Forbearance Loan Workouts
According to MBA’s Monthly Loan Monitoring Survey, the share of loans in forbearance dropped slightly to 0.81 percent of servicers’ portfolio volume as of June 30, 2022, from 0.85 percent the prior month.
CBRE: Office Lease Rates Highlight Flight-to-Quality Trend
CBRE, Dallas, said office rental trends indicate a “flight to quality” playing out across 12 major U.S. markets as companies adapt their workplaces for hybrid work.
Pending Home Sales Fall 8.6%
Pending home sales decreased in June following a slight increase in May, the National Association of Realtors reported.
Zillow: Lower Credit Score Homebuyers Pay $104,000 More in Mortgage Costs
Elevated home prices and rising interest rates are feeding into housing affordability woes for potential buyers--especially those with lower credit scores--reported Zillow, Seattle.
