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.
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, Chicago, noted a “disconnect” between hospitality fundamentals, which it called exceptionally strong for many assets, and debt markets, which have been deteriorating meaningfully.
Mortgage applications for new home purchases decreased 12 percent compared to a year ago, the Mortgage Bankers Association’s Builder Application Survey reported.
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.
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.