Tag Archives: Mortgage Bankers Association (MBA)

The FHFA has reduced the multifamily loan purchase caps for Fannie Mae and Freddie Mac in 2024, continuing a commitment to address the need for affordable rental housing nationwide.

The FHA has issued its Annual Report to Congress for fiscal year 2023, highlighting the impact of insurance premium reduction, assistance for approximately two million struggling homeowners, and support of underserved borrowers and communities.

Driven by increased activity in the jumbo mortgage market, the MBA reported mortgage credit availability on the rise to begin Q4, as lenders have begun to offer more ARM products to offset mortgage rates that reached nearly 8% in the second half of October.

Redfin analysts weigh a number of variables playing into potential homebuyers’ decision-making process and reveal why now may be the best time to pursue the American dream of homeownership.

Freddie Mac reports a second week-over-week slide in the 30-year fixed-rate mortgage, as markets adjust to the Fed’s second consecutive pause in rate hikes. Here are the factors a Freddie Mac economist says are allowing the housing market to “remain stagnant.”

“Borrowing and lending were down for every property type and capital source from one year ago. However, compared to this year’s second quarter, volumes were more stable, and some sectors—including industrial properties and life company lenders – showed an uptick in volume,” said Jamie Woodwell, MBA’s Head of Commercial Real Estate Research.

While buyers contend with mortgage rates edging toward the 8% mark, Redfin reports that an increasing number of the nation’s home sellers are reducing their asking prices. Read the full data here.

A drop of just three basis points in the 30-year fixed rate mortgage provided little relief to prospective buyers, as ambiguity around monetary policy will likely continue to stall improvements in the housing market through the end of the year.

Despite the fixed-rate mortgage dipping slightly over last week, rates still linger nearly 30 basis points higher than they were a month ago. The MBA reports purchase apps have dropped to their lowest levels since 1995, and refi apps to points last found in January 2023.

In a response to the lack of housing available to the nation’s homebuyers, the Biden Administration has issued guidance on new solutions to expand housing inventory affordability. Click through to find out what the government plans to do to support this initiative.