The retail market is starting to see distress as the pandemic enters its ninth month, said Moody’s Analytics REIS, New York.
Category: News and Trends
3Q Home Equity Levels Rise Despite Pandemic
ATTOM Data Solutions, Irvine, Calif., said equity-rich properties in the U.S. now outnumber those considered seriously underwater by a nearly 5-1 margin.
Home Price Appreciation Jumps to Six-Year High
CoreLogic, Irvine, Calif., said home prices increased 6.7% nationally in September from a year ago, the fastest annual acceleration since May 2014.
Smaller Metros—and Fewer Disasters—On Home Buyers’ Radar Screens
The coronavirus has caused a sea change in Americans’ attitudes toward home. With millions now working from home—many permanently—they are rethinking everything: how to repurpose rooms; how many cars they need to own; and especially, where they want to live, not where they need to live.
Commercial, Multifamily Borrowing Falls 47% in Third Quarter
Commercial and multifamily mortgage loan originations were 47 percent lower in the third quarter compared to a year ago, and increased 12 percent from the second quarter of 2020, the Mortgage Bankers Association reported.
MISMO Seeks Comment on New API Toolkit
MISMO, the mortgage industry’s standards organization, released its new MISMO API (application programming interface) Toolkit yesterday for a 60-day member comment period.
Share of Mortgage Loans in Forbearance Decreases to 5.83%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey revealed the total number of loans now in forbearance decreased by 7 basis points from 5.90% of servicers’ portfolio volume in the prior week to 5.83% as of October 25, 2020.
Commercial, Multifamily Delinquencies Decline in October
Delinquency rates for mortgages backed by commercial and multifamily properties declined in October, the Mortgage Bankers Association’s latest monthly CREF Loan Performance Survey reported.
3Q Homeownership Rate Falls by 0.5%
Despite a jump in home purchase activity this summer—but also perhaps because of the coronavirus pandemic—the U.S. homeownership rate slipped by 0.5 percent in the third quarter, the Census Bureau reported Thursday.
Federal Agencies Propose Regulation Codifying Use of Supervisory Guidance
Five federal agencies last week issued a proposed regulation that would codify a 2018 guidance clarifying that supervisory guidance does not have “force and effect of law.”