Total nonfarm payroll employment increased by 175,000 in April, per the Bureau of Labor Statistics.
Category: News and Trends
Servicing Quote Tuesday, April 30, 2024
“The U.S. delinquency rate fell from a year earlier for the first time in six months in February, indicating that mortgage performance remains strong.”
–Molly Boesel, Principal Economist for CoreLogic
CMBS Delinquency Rate Increases Moderately
The delinquency rate among KBRA-rated U.S. commercial mortgage-backed securities increased moderately in April to 4.67%, according to KBRA, New York.
GDP Grew at 1.6% in Q1; Industry Economists Weigh In
Real gross domestic product increased at an annual rate of 1.6% in the first quarter, per the advance estimate released by the Bureau of Economic Analysis.
MBA: IMB Production Losses Reach Series High in 2023
Independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $1,056 on each loan they originated in 2023, down from an average loss of $301 per loan in 2023. This represents a series high in the 15-year history of the Mortgage Bankers Association’s (MBA) Annual Mortgage Bankers Performance Report.
CoreLogic: Delinquency, Foreclosure Rates Low in February
CoreLogic, Irvine, Calif., reported the overall mortgage delinquency rate was at 2.8% in February, down from 3% in February 2023.
MBA Chart of the Week: Climate, Sustainability and Real Estate Finance
With Earth Day happening this month, it seems an opportune time to discuss the intersection of climate/sustainability issues and real estate finance. MBA has been leading on these issues for more than half a decade, helping members through our work related to research, policy and practice.
Redfin: Florida, California Homeowners See More Insurance Changes
Redfin, Seattle, recently reported 70.3% of Florida homeowners and 51% of California homeowners say they or the area they live in have been affected by rising home insurance costs or changes to coverage over the past year.
FHFA Requests Public Input on Freddie Mac Second Mortgage Proposal
The Federal Housing Finance Agency on Tuesday proposed a new product from Freddie Mac to begin purchasing certain single-family closed-end second mortgages.
Tavant’s Hassan Rashid on Unlocking Home Equity: A Strategic Move for 2024
As we make strides into 2024, American homeowners find themselves amidst an intriguing landscape of financial opportunities, particularly concerning the utilization of home equity.