Yesterday, the Mortgage Bankers Association led a coalition letter sent to the Board of Governors of the Federal Reserve that conveyed the housing industry’s serious concerns about the negative market impacts the Fed’s monetary policy actions (e.g., rate hikes and quantitative tightening) are having on the market.
As mortgage rates reached 23-year highs in MBA’s latest Weekly Applications Survey and application activity fell to a low last seen in 1996, MBA President and CEO Robert Broeksmit, CMB, issued the following statement.
Fitch Ratings, New York, said U.S. life insurers’ ratings are not currently at risk from commercial real estate exposure, due to insurers’ stable investment portfolios, conservative underwriting, strong liquidity and effective asset-liability management.
MBA’s annual Servicing Operations Study and Forum (SOSF) includes a deep-dive analysis and discussion of servicing costs, productivity, portfolio characteristics, and operational metrics for in‐house single-family servicers.
U.S. home prices (including distressed sales) increased by 3.7% year-over-year in August, according to CoreLogic, Irvine, Calif.
The job market remained quite strong in September, with nonfarm employment increasing by 336,000, the U.S. Bureau of Labor Statistics reported Friday.