Fed Raises Rate to 15-Year High
The Federal Open Market Committee, as expected, raised the federal funds rate by 75 basis points on Wednesday to its highest level since 2008.
ADP: October Private-Sector Employment Up 239,000; Pay Up 7.7%
In the second of four major jobs reports this week, ADP, Roseland, N.J., said private-sector employment in October increased by 239,000 jobs, while annual wages jumped by 7.7 percent.
Housing Market Roundup, Nov. 3, 2022: Homeowner Equity Keeps Rising; 98% of Metros See Decline in Home Prices
Here’s a quick summary of recent housing market articles that have come across the MBA NewsLink desk:
The Office Sector Paradox
Office-using employment increased this year, but office absorption remains negative, reported Cushman & Wakefield, Chicago.
MBA Weekly Survey Nov. 2, 2022: Applications Fall 6th Straight Week
Despite a slight drop in mortgage rates, mortgage applications fell for the sixth straight week, although refinance applications ticked up, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending October 28.
MISMO Seeks Public Comment on Application Threshold Decision Model and White Paper
MISMO®, the real estate finance industry standards organization, tseeks public comment on a new Application Threshold Decision Model and White Paper. The 30-day comment period runs through December 1.