Bloomberg News, Aug. 8, 2023-Claire Ballentine (subscription)Millions of Americans have a higher rate on their savings account than they’re paying for their mortgage.https://www.bloomberg.com/news/articles/2023-08-08/marcus-rate-vs-mortgage-rate-interest-on-high-yield-is-higher-than-home-loans#xj4y7vzkg
Category: Top National News
New Lending by Mortgage REITs Has Dried Up
Wall Street Journal, Aug. 8, 2023–Peter Grant (subscription)Some of the biggest names in commercial real-estate lending have all but turned off the spigot. Blackstone Mortgage Trust and KKR Real Estate …
Fitch Downgrades Mortgage Giants Fannie and Freddie From AAA to AA+
CNN, Aug. 2, 2023-Anna BahneyThe credit ratings of US mortgage giants Freddie Mac and Fannie Mae were downgraded by Fitch Ratings on Wednesday, the day after Fitch cut the U.S. …
Rocket Expands Beyond Refis With Help From 1% Down Payment Mortgages
Wall Street Journal, Aug. 4, 2023-Telis Demos (subscription)It has been a tough year for the mortgage business. But some lenders are finding a home with investors.https://www.wsj.com/livecoverage/stock-market-today-jobs-report-08-04-2023/card/rocket-expands-beyond-refis-with-help-from-1-down-payment-mortgages-bU06j9Hi6PszSMenE7wD?
Housing ‘Extras’ Add Up
Banker & Tradesman, Aug. 6, 2023–Lew SichelmanHomebuyers who focus solely on the cost of their mortgage’s interest and principal are doing themselves a disservice. There are other recurring costs that …
Why Warehouse Rents Keep Going Up While Demand Is Dropping
Wall Street Journal, Aug. 2, 2023-Liz Young (subscription)Warehouse rental prices across the U.S. have never been as high as they were in the second quarter, when the average asking rent …
Multifamily Insurance Rates Are Up as Much as 28%
GlobeSt.com, Aug. 07, 2023–Erik ShermanHigher financing costs are not the only fiscal strain on CRE in general and multifamily specifically. Operating expenses have risen sharply and are unlikely to recede …
A Real-Estate Haven Turns Perilous With Roughly $1 Trillion Coming Due
The Wall Street Journal, Aug. 7, 2023-Konrad Putzier and Will Parker (subscription)Apartment buildings, long considered a real-estate haven, are emerging as the next major trouble spot in the beleaguered commercial-property …
Acquisition of Home Point Mortgage Lender by Mr. Cooper Completed
Crain’s Detroit Business, Aug. 1, 2023-Nick Manes (subscription)Southeast Michigan is officially down one mortgage lender.https://www.crainsdetroit.com/banking-finance/home-point-mortgage-lender-acquisition-mr-cooper-complete
U.S. Consumer Confidence Jumps to Two-Year High as Inflation Eases
Associated Press, July 25, 2023–Paul WisemanU.S. consumer confidence shot to the highest level in two years this month as inflationary pressures eased and the American economy continued to show resilience …