“For the third consecutive quarter, the average pre-tax net production income was in the red, reaching a new survey low of 99 basis points of loss in the final three months of 2022,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.
Read More »The Week Ahead: The Future of the Home Remodeling Market
The Harvard Joint Center for Housing Studies will present a virtual session analyzing the burdens of home improvement, as well as the preservation of affordable housing in today’s home remodeling market.
Read More »The Best Counties For Buying Single-Family Rentals
Rental returns experienced a significant increase from 2022 in roughly 90% of counties analyzed in ATTOM's latest Q1 2023 Single-Family Rental Market report, reversing years of decline and narrowing down the best counties for single-family rentals in 2023.
Read More »Economic Unrest Pushes Mortgage Rates Downward
In a week of turmoil in the economic markets as the FDIC was named receiver of two banks, Freddie Mac reported the fixed-rate mortgage retreated 13 basis points, ending a five-week run of increases.
Read More »Single-Family Permits Up Over 7% From January
“Single-family housing permits, a leading indicator of future starts, also increased 7.6% compared with the previous month. The uptick in single-family housing permits and starts aligns with the recent increase in homebuilder sentiment,” said First American Deputy Chief Economist Odeta Kushi.
Read More »New Home Purchase Mortgage Applications Experience Modest Increase
According to the latest Mortgage Bankers Association Builder Application Survey data for February 2023, mortgage applications for new home purchases increased just 1.2% compared to the same time a year ago.
Read More »CFPB Opens Inquiry on the Data Broker Market
CFPB seeks info from the public to assist with rulemaking under the Fair Credit Reporting Act regarding data brokers.
Read More »Homebuyers Are Becoming More Selective
“Buyers today are way more demanding and selective. They’re willing to wait to find the perfect house, which wasn’t the case during the pandemic homebuying boom,” said Elena Fleck, a Redfin real estate agent in Palm Beach, Florida.
Read More »Mortgage Purchase App Volume Rises for Second Consecutive Week
The MBA reports that purchase applications increased for the second straight week but remained nearly 40% below last year’s pace, amid news of continued economic instability and several bank closures.
Read More »The Automation Revolution Reaches a New Phase
Most lenders have automated much of the front end of their processes, and now, Robotic Process Automation (RPA) technology is helping to automate the in-between functions.
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