Housing Market Roundup: Mar. 25, 2022
Here is a summary of housing market reports that came across the MBA NewsLink desk this week:
Evolving Office Sector Could Drive Flight to Quality
Workers are slowly returning to the office as the pandemic wanes, but office buildings remain relatively empty, reported Yardi CommercialEdge, Santa Barbara, Calif.
Initial Claims Fall to 52-Year Low
Initial claims for unemployment insurance fell to their lowest level in nearly 53 years, the Labor Department reported Thursday.
MBA: February Median Mortgage Application Payment Jumps 8.3% to $1,653
Homebuyer affordability decreased in February, with the national median payment applied for by applicants jumping 8.3 percent to $1,653 from $1,526 in January, the Mortgage Bankers Association reported Thursday.
Administration Launches Reforms on Equity in Appraisals
The Biden Administration on Wednesday released an action plan targeting racial bias in the home lending and appraisal process and promoting wealth creation through homeownership.