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Origination

NYCB and Flagstar Deal Clears Hurdle

The Office of the Comptroller of the Currency (OCC) has approved the merger deal between NYCB and Flagstar Bancorp, however NYCB's acquisition of Flagstar remains subject to the approval of the Federal Reserve Board.

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Mortgage Rates Eclipse 7%

For the first time since April 2022, mortgage rates have surpassed the 7% mark, with many potential buyers now waiting to see where the market is headed, thus pushing home prices further downward.

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Single‐Family Home Sales Slip Nearly 20% YoY

With fixed-rate mortgages up nearly 195 basis points since mid-summer lows, new single-family homes tumbled in September, with more homeowners opting to remain in their current homes amid the erratic rate environment.

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Inventory Levels Creep Upwards

"After a sustained period of quick sales that kept the housing cupboard relatively bare, a supply of two months presents a lot more options for homebuyers," said Nick Bailey, RE/MAX President and CEO.

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