MBA Weekly Survey Mar. 1, 2023: Rising Rates Push Down Mortgage Applications
Interest rates reached their highest level since November, driving down mortgage application activity, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending February 24.
MBA, Business Coalition Letter Opposes FTC Non-Compete Ban Proposed Rule
The Mortgage Bankers Association, the U.S. Chamber of Commerce and more than 300 industry trade and business groups sent a letter this week to the Federal Trade Commission to “unequivocally oppose” a proposed rule that would impose a nationwide ban on nearly all non-compete clauses.
Housing Market Reports: Continued Declines in Home Price Appreciation; Affordability Improves
Three end-of-month home price reports found appreciation declining in many parts of the country, along with increased affordability in many markets.
Consumer Confidence Dips on High Prices, Interest Rates
The Conference Board, New York, said its monthly Consumer Confidence Index fell in February, marking the second consecutive monthly decline, amid economic uncertainty and persistent inflation.
U.S. Commercial Property Prices Tumble
U.S. commercial property prices fell in January at an annual pace of decline not seen since late 2010, reported Real Capital Analytics, New York.
