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Inflation Ascends to Record Heights Amid Russian Invasion of Ukraine
As Russian attacks on Ukraine persist, the ripple effects of global economic markets are being felt by millions, if not more. According to recent reports from the U.S. Bureau of Labor Statistics (BLS), the geopolitical situation has sent the nation’s already-elevated inflationary environment into a territory it hasn’t seen since the 1980s. The agency released […]
Commercial Weekly: Record Industrial Leasing in 2021
Supply chain disruptions have led firms to lease additional industrial space to use as storage in an attempt to reduce reliance on supplier inventory. www.nar.realtor – Research
String of Existing Home Price Increases Now Longest on Record
Existing home sales came in a little lower than expected in November, but it was still the third consecutive gain. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhouses, condos, and cooperative apartments were at a seasonally adjusted annual rate of 6.46 million units, a 1.9 percent increase over the 6.340 […]
Forbearances Tumble; Mortgage Profits Break 2008’s Record; Locking/Floating After Jobs Report
The number of loans in forbearance declined sharply over the course of the past week. Black Knight said the number of homeowners exiting their plans jumped to the highest level in four weeks due to end-of-May expirations. There were also noticeable declines in the number of borrowers returning to the program as well as new […]
Mortgage Profits Decline but Remain Close to Record Levels
Mortgage originators’ profits remained strong in the fourth quarter of 2020, although they were down considerably from the previous period. The Mortgage Bankers Association’s (MBA’s) Mortgage Bankers Performance Report says that independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net gain of $ 3,738 on each loan they originated during the […]
Refinance Activity Broke an Almost 9-Year Record in February
It hasn’t exactly been a scramble, but homeowners have stepped up their refinancing activity over the last two months as they saw interest rates begin a slow but steady march higher. The February Origination Insights Report from ICE Mortgage Technology shows the refinancing share of all loans originated during the month moved 1 point higher […]
Housing Market Update: Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier
The average sale-to-list price ratio passed 100% for the first time as home prices surge….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
Still Cheaper to Own; Forbearance Improvement Slows; No More Record Low Rates?
In most parts of the country owning a home is more affordable than renting one according to ATTOM Data Solutions’ 2021 Rental Affordability Report . The company looked at the median price of a three-bedroom home in 915 U.S. counties and the rent for a comparable home and found owning more affordable 572 or 63 […]
Mortgage Rates Closing Out The Year at Record Lows
For all practical purposes, the year is over when it comes to mortgage rate volatility. True, there is some small chance that political developments conspire to push rates just a bit higher in the next two days, but the damage would be insignificant in the bigger picture. In other words, we’re looking at “all-time low […]
Home Prices Still Soaring; Rates Closing Out 2020 at Record Lows
For all practical purposes, the year is over when it comes to mortgage rate volatility. True, there is some small chance that political developments conspire to push rates just a bit higher in the next two days, but the damage would be insignificant in the bigger picture. In other words, we’re looking at “all-time low […]