ACES: Critical Defect Rates Up 6%
ACES Quality Management, Denver, issued its quarterly Mortgage QC Industry Trends Report, showing the overall critical defect rate increased by 6% in the second quarter to 2.05%, crossing the 2% threshold for only the third time in this report’s history.
CBRE: Moderate Recession Will Likely Slow Leasing, Investment
CBRE, Dallas, said it expects a moderate recession next year that will bring declines in real estate investment and leasing activity, though inflation will likely recede by year-end.
Some Homeowners Ready to Move, but Feel ‘Stuck’
High mortgage rates and persistently high home prices have a majority of homeowners who want to move feeling stuck in their current homes, according to the Point Homeowner Sentiment and Moving Survey.
Initial Claims Fall to 4-Month Low
Initial claims for unemployment insurance fell to their lowest level since September, the Labor Department reported Thursday.
Fed Slows Pace of Rate Hikes, But Hints at More
In its final policy meeting of an eventful year, the Federal Open Market Committee on Wednesday raised the federal funds rate for the seventh straight meeting, but by 50 basis points instead of 75 basis points, as it had for the past four times.
