Total nonfarm payroll employment was up by 206,000 in June, and the unemployment rate was at 4.1%, per the U.S. Bureau of Labor Statistics.
Category: News and Trends
ICE Mortgage Monitor: Share of Mortgages Above 5% Interest Rate Creeps Up
Intercontinental Exchange, Atlanta, released its latest mortgage monitor with May’s data. Among other findings, 24% of mortgage holders had interest rates of 5% or higher, up from just 10% in 2022.
MBA Chart of the Week: Monthly Employment Changes and Unemployment Rate
Once again, the headline gain in nonfarm payroll employment does not tell the entire story.
Servicing Quote Tuesday, July 2, 2024
“A core focus of MBA’s advocacy is educating policymakers on the exhaustive change management practices servicers must make to implement new policies.”
–MBA President & CEO Bob Broeksmit, CMB
FHFA Announces Members of Federal Advisory Committee on Affordable, Equitable and Sustainable Housing
The Federal Housing Finance Agency announced the members of its Advisory Committee on Affordable, Equitable and Sustainable Housing, which includes several members of the Mortgage Bankers Association.
To the Point With Bob–Mortgage Servicers: Diligently Serving Borrowers Through Constant Change
Mortgage servicers have a vital function in the mortgage market and the wider economy, writes MBA President and CEO Bob Broeksmit, CMB.
MBA Chart of the Week: Value of Private Construction Put-in-Place
Physicists have protons, neutrons, and electrons. Biologists have DNA and RNA. And economists have supply and demand — the building blocks upon which most of our understanding of markets rest.
ICE: Mortgage Performance Remains Strong in May First Look
Intercontinental Exchange, Atlanta, released a first look at May mortgage data, finding the national delinquency rate fell to the second lowest point on record.
‘Sandwich Generation’ Sees Pros, Cons for Home Ownership, Realtor.com Survey Finds
Realtor.com, Santa Clara, Calif., recently conducted a survey that shed more light on the homebuying behavior of the “Sandwich Generation”–Americans who are taking care of their children and aging parents (or sometimes grandparents) simultaneously.
MBA’s Broeksmit: Setting the Record Straight About MBA’s Advocacy on Credit Reporting Costs
Mortgage Bankers Association President & CEO Bob Broeksmit, CMB, weighed in last Tuesday to set the record straight about credit reporting costs.