On Wednesday, the Federal Housing Finance Agency announced it directed the GSEs to increase upfront fees for high-balance conforming and second-home loans. Also last week, FHFA determined that the revised Duty to Serve Proposed Underserved Markets Plans for 2022-2024 submitted by the GSEs did not meet the non-objection standard for any of the three underserved markets.
Total nonfarm employment rose by just 199,000 jobs in December, well below consensus expectations, as employers continued to have trouble filling open positions, the Bureau of Labor Statistics reported Friday.
Veros Estate Solutions, Santa Ana, Calif., released its Q4 2021 VeroFORECAST data, projecting home prices will appreciate on average 6.8% for the next 12 months—slightly less anticipated growth compared to its third quarter predicted national average appreciation of 7%.
This week’s MBA Chart of the Week highlights the steep rise in insured unemployment at the start of the pandemic (March 2020) and its steady decline through the fall of 2021 as the labor market improved (and related government financial support to households waned).