MBA Advocacy Update: CFPB Creates Registry for Nonbanks Subject to Agency and Court Orders; Supreme Court Releases Decision in Cantero v. Bank of America
This week’s top legislative and policy news from the Mortgage Bankers Association.
Jobs Report: 272,000 Added in May
The U.S. Bureau of Labor Statistics announced nonfarm payroll increased by 272,000 and the unemployment rate was at 4% in May.
MBA Chart of the Week: Purchase Applications Payment Index for Selected States
Following the precipitous rise in interest rates and home prices in 2022 that starkly eroded affordability conditions for home buyers, the monthly cost burden of purchasing a new home continued to increase in 2023 and the first four months of 2024, albeit at a slower pace.