February New Home Purchase Mortgage Applications Up 4%
The Mortgage Bankers Association on Thursday reported mortgage applications for new home purchases increased by 4 percent in February from January and by 1.2 percent from a year ago.
MBA Launches CONVERGENCE Philadelphia
The Mortgage Bankers Association on Wednesday launched CONVERGENCE Philadelphia, its third city-based pilot program to promote and increase minority homeownership. CONVERGENCE Philadelphia joins initiatives underway in Memphis, Tenn., and Columbus, Ohio.
FHFA Delays Effective Date of GSE DTI Ratio-Based Fee to Aug. 1
The Federal Housing Finance Agency on Wednesday announced a 90-day delay in the effective date of the new Loan Level Price Adjustments for certain borrowers with debt-to-income ratios above 40 percent. The new effective date will be for deliveries on or after August 1.
March Builder Confidence Up Third Straight Month; NAHB Says Future Outlook ‘Uncertain’
Builder confidence in the market for newly built single-family homes in March rose for the third straight month, but the National Association of Home Builders said economic volatility makes the longer-term outlook uncertain.
In Tighter Market, More Home Sellers Making Concessions
Redfin, Seattle, reported sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin agents during the three months ending February 28, the highest share of any three-month period since June 2020.
Dealmaker: Colliers Sells U.S. Fleet Cyber Command Center for $33M
Colliers Government Solutions sold the U.S. Fleet Cyber Command Center of Operations building in Suffolk, Va., for $33.2 million.