Lending and Originations

Rachel Richardson of Rent. examines several major market trends that impact a property’s day-to-day operations, and what to do about them. 

As interest rates remain high, a new study from Zillow has found that 15% more borrowers purchased mortgage points in 2022 than 2021, and continue to do so as interest rates hover around 6%.

After a five-week string of declining rates, mortgage rates rose modestly for the second consecutive week, on the eve of the GSE’s enacting changes to loan-level price adjustments geared toward tackling housing affordability challenges nationwide.

While both conventional and government home purchase applications increased last week, activity remains nearly 30% below last year’s pace, as elevated mortgage rates and low supply continue to moderate the market.

“The National Composite, which had declined for seven consecutive months, rose a modest 0.2% in February, and now stands 4.9% below its June 2022 peak,” said Craig J. Lazzara, Managing Director at S&P Dow Jones.

According to Fixr.com's Remodeling 2023 Cost vs. Value Report, new data shows which remodeling jobs had the biggest increases in ROI over the past year, as the home remodeling industry is predicted to reach a market size of $485 billion in 2023.

Sen. Kevin Cramer and Mark Warner have reintroduced a bipartisan bill to authorize remote online notarizations nationwide, allowing notaries and signers to complete the process from different physical locations.

The MBA has filed an amicus brief arguing against lenders being held liable for the actions of independent appraisers in instances where bias is concerned.

Entry-level home shoppers are most likely to face bidding wars this spring, as prices rose by 8% annually for the least expensive one-third of houses, while more expensive homes lost value for the first time in more than a decade.

Freddie Mac reports the 30-year fixed-rate mortgage took a turn upward this week, rising 12-basis points week-over-week as investors responded to more healthy economic indicators and an uptick in bond yields.