The Mortgage Bankers Association appointed Owen Lee, CEO of Success Mortgage Partners Inc., Plymouth, Mich., chairman of MORPAC, its political action committee, for the 2023-2024 election cycle.
Tag: Rick Sharga
Higher Rates Make Renting More Affordable that Homeownership
ATTOM, Irvine, Calif., said higher mortgage interest rates tipped the needle toward renting over homeownership.
2022 Foreclosures Double; Remain Below Pre-Pandemic Levels
ATTOM, Irvine, Calif., said 2022 foreclosure filings more than doubled from 2021 but remained well below pre-pandemic rates.
ATTOM: Home Affordability Worsens in 4Q Despite Falling Home Prices
ATTOM, Irvine, Calif., released its fourth-quarter U.S. Home Affordability Report showing median-priced single-family homes and condos are less affordable compared to historical averages in 99 percent of counties across the nation — far above the 68 percent of counties that were less affordable a year ago.
3Q Home Flipping Declines Across U.S.; Investor Profits at 13-Year Low
ATTOM, Irvine, Calif., said third quarter home flipping activity fell from the second quarter, and investor profits fell to their lowest level since 2009.
ATTOM: Foreclosure Completions Up 64%
ATTOM, Irvine, Calif., reported 30,677 U.S. properties with foreclosure filings in October, up 57 percent from a year ago, but down 5 percent from October.
3Q Mortgage Lending Falls to 3-Year Low
Mortgage lending fell by another 19 percent in the third quarter—the sixth straight quarterly drop—to its lowest level in three years, reported ATTOM, Irvine, Calif.
ATTOM: Mixed Results on 3Q Opportunity Zone Growth
ATTOM, Irvine, Calif., said its analysis of low-income Opportunity Zone redevelopment found median single-family and condo prices slowed in the third quarter but continued to outpace the overall national housing market—although home values continued to lag.
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:
‘Zombie’ Foreclosures Up; Remain Small Portion of Housing Market
ATTOM, Irvine, Calif., reported 1.3 million residential properties in the United States sit vacant, representing 1.26 percent, or one in 79 homes, across the nation.