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Lance F. Drummond Elected Chair of Freddie Mac
Lance Drummond will become chair of Freddie Mac's Board of Directors, the company announced today. A member of the Board since 2015, Drummond will succeed Sara Mathew, who will retire as Board chair and as a Director in February 2024, as required by the company's bylaws.
Mortgage Application Payments Decreased to $2,155 in September
Homebuyer affordability improved slightly in September, with the national median payment applied for by purchase applicants decreasing to $2,155 from $2,170 in August. This is according to
Single-Family Starts Post Unexpected Gain in September as High Interest Rates Persist
Despite elevated mortgage rates averaging above 7%, single-family starts posted a solid gain in September as more buyers are turning to new homes because of a dearth of inventory in the
MBA Statement on the Biden Administration’s Announcement on Commercial Property Conversions to Housing
Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association (MBA), released the following statement on the Biden
Lack of Resales Boost New Home Sales in September
Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market.
MISMO Publishes Version 3.5 Property and Valuation Services Implementation Guide
MISMO®, the real estate finance industry's standards organization, today announced that it has published the Version 3.5 Property and Valuation Services (PaVS) Implementation Guide
FinLocker and Milestones Announce a Strategic Alliance to Enable a Seamless Homebuyer-to-Homeowner Experience
The integration of Milestones and FinLocker will provide mortgage lenders with a comprehensive solution to attract, nurture, and
Mortgage Credit Availability Increased in September
Mortgage credit availability increased in September according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE
Mortgage Application Payments Increased Slightly to $2,170 in August
Homebuyer affordability declined in August with the national median payment applied for by purchase applicants increasing to $2,170 from 2,162 in July. This is according to the Mortgage
9 Steps to Make Home-Buying Easier
The Florida housing market boasts an average home value of $392,262, showing a steady 0.5% increase in the past year. Buying a home in the Sunshine State can seem extremely complex and stressful for first-time homebuyers. All the budget
Prominent Mortgage Executive Tony Meola Joins Board of Directors at Milestones
Milestones, the all-in-one home management solution specifically designed for consumers to buy, move, own, sell, manage and access mortgage services for their home seamlessly in one
New Home Sales Weaken in August on Higher Mortgage Rates
Elevated mortgage rates and challenging affordability conditions pushed new home sales down to their weakest rate since March. Sales of newly built, single-family homes in August fell 8.7% to a
Pending Home Sales Tumbled 7.1% in August
Pending home sales slid 7.1% in August, according to the National Association of REALTORS®. All four U.S. regions posted monthly losses and year-over-year declines in transactions. "Mortgage rates have been rising above 7% since August
MBA Opens Doors Foundation Kicks Off 2024 Fundraising Season with Nearly $2.7 Million in...
The MBA Opens Doors Foundation (Opens Doors) today announced it received $2,684,526 in corporate and individual donations during its Annual Appeal fundraising campaign to kick
Housing Starts Lower on Rising Mortgage Rates
Higher mortgage rates averaging above 7% put a damper on single-family production in August, as builders also continue to face supply-side challenges in the form of elevated construction costs, a lack of skilled labor and a shortage of buildable lots.
Elevated Home Prices and Mortgage Rates, Limited Inventory are Home Buying Barriers, According to...
The current real estate market's high home prices and mortgage rates, as well as limited inventory, are the top reasons that
August New Home Purchase Mortgage Applications Increased 20.6 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2023 shows mortgage applications for new home purchases increased 20.6 percent compared from a
5 Pros & Cons of Reverse Mortgages
Are you a homeowner or someone who's about to retire from your job? If yes, then you might have given the TV or radio ads about the reserve mortgages a thought. According to Statista, the number of people who will get Social Security benefits has reached 48.59 million in 2022
Just-Released Report Identifies Solutions for Closing Chicago’s Racial Homeownership Gap
The report’s policy recommendations are the result of work between community organizations and different kinds of mortgage lenders, as part of the Mortgage Access Initiative led by Woodstock Institute and Neighborhood Housing Services
Large Metro Markets Show Biggest Slowdown in Single-Family Construction
Rising mortgage rates and elevated construction costs have taken a toll on the pace of single-family construction in markets across the nation, with the slowdown most pronounced in large metro
