MBA Weekly Survey July 20, 2022: Mortgage Applications Decrease
Mortgage applications decreased 6.3 percent from one week earlier, reported the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 15, 2022.
House Prices Begin to Fall from Record Highs
Redfin, Seattle, said the median sale price for U.S. homes came down 0.7% from its record-breaking June peak during the four weeks ending July 10.
JLL Notes Hospitality Market ‘Disconnect’
JLL, Chicago, noted a “disconnect” between hospitality fundamentals, which it called exceptionally strong for many assets, and debt markets, which have been deteriorating meaningfully.
June Purchase Mortgage Applications for New Homes Decreased 12%
Mortgage applications for new home purchases decreased 12 percent compared to a year ago, the Mortgage Bankers Association’s Builder Application Survey reported.
MBA: Share of Mortgage Loans in Forbearance Decreases Slightly in June
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed the total number of loans now in forbearance decreased by 4 basis points from 0.85% of servicers’ portfolio volume in May to 0.81% on June 30.
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MBA Forecast: Higher Rates, Economic Uncertainty to Slow Commercial/Multifamily Lending
Total commercial and multifamily mortgage borrowing and lending could fall to $733 billion this year, down 18 percent from 2021 totals, according to an updated baseline forecast from the Mortgage Bankers Association.
