Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $223 on each loan they originated in the first quarter, a sharp drop from a reported gain of $1,099 per loan in the fourth quarter, the Mortgage Bankers Association reported Tuesday.
Mortgage applications fell for the second straight weeks even though mortgage interest rates also fell over the same period, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending May 20.
New home sales in April suffered double-digit percentage losses for the second consecutive month, falling to their lowest level since June 2020, HUD and the Census Bureau reported Tuesday.
It’s not exactly a race, but so far in 2022, home values in the suburbs sped ahead of urban growth values, continuing a trend began last summer, said Zillow, Seattle.
The single-family rental sector gained momentum in the first quarter, even as profit margins declined, analysts reported.