The Mortgage Bankers Association Builder Applications Survey reported mortgage applications for new home purchases in July fell by 16.1 percent from a year ago, marking the fourth consecutive monthly decrease.

Here’s a quick summary of housing/real estate finance articles that have come across the MBA NewsLink desk:

Rider Levett Bucknall, Phoenix, reported commercial real estate construction costs increased 2.4% during the second quarter.

This week’s MBA Chart of the Week illustrates the average historical pre-tax production profits for each respective quarter of the year, from Q3 2008 to Q2 2022. These historical quarterly averages are then compared to the most current net production profit corresponding to that quarter.

On Wednesday, FHFA and Ginnie Mae jointly released their long-awaited final capital, liquidity, and net worth requirements for sellers and servicers of loans backed by the GSEs and Ginnie Mae issuers. Also last week, the author of legislation in California (SB1323), that would have created a byzantine new foreclosure process for residential properties that have more than 10% equity withdrew his bill from Assembly floor consideration.