Direction of mortgage interest rates uncertain after Fed meeting
Freddie Mac's survey finds the 30-year fixed loan dropped 3 basis points, but Zillow's tracker showed since the FOMC announcement, they dropped 30 basis points.
Economy
RMBS issuance should continue to slide in 2024, S&P says
High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.
Mortgage rates creep on up
At the same time, the 15-year fixed rate loan rose above 7% for the first time in nearly 23 years, Freddie Mac reported.
Persistent inflation, CRE register as top financial stability concerns
The Federal Reserve released its semiannual financial stability report highlighting elevated asset values, funding issues and pockets of leverage as top concerns.
Mortgage rates might be heading to 8%
The Fed's higher for longer statements have pushed up the 10-year Treasury in recent weeks to levels last seen in 2007 and that is affecting pricing.
CDFI access to government funds garners bipartisan support
At a Senate Banking subcommittee meeting, Republican and Democratic lawmakers both promoted the mission of community development financial institutions and warned of upcoming threats to their funding and proposals to revamp the CDFI certification process.
Inflation relief for mortgages on the way — in 2025
But the industry will still have to go through some pain in 2024, Wharton Professor Susan Wachter told attendees at the Mortgage Bankers Association annual convention.
Utility Debt Securitization Authority to raise $823.3 million in utility bonds
The deal will issue tax-exempt restructuring bonds through the 2023TE1 and 2 classes of notes, which will issue $652.1 million and $135.4 million, respectively. One class will issue $35.6 million federally taxable note, the 2023T class.
More pain is ahead with more cutbacks needed, MBA says
While great progress has been made towards the goal of reducing capacity by 30%, job reductions should continue for several more quarters.
Michigan’s DTE Electric Securitization Funding to sell $601.6 million
DTE Electric Securitization, 2023A will issue notes to investors through two class A tranches, which are identical in certain characteristics, such as their 'Aaa' ratings, and their $300.8 million principal amounts.
A10 BAF is preparing to sell $308.4 million
A majority of the commercial real estate CLO's collateral has pari-passu participations, including 18 that have a related obligation for an unfunded future advance.
Mortgage rates might move higher than two-decade peak
While some observers believe that by year-end, the 30-year FRM would be lower than current levels, chatter about an 8% mortgage exists.
Mortgage rates more likely to decline than climb, Freddie says
Even as Freddie Mac's survey put rates at their highest since December 2000, factors like rising oil prices and a government shutdown could slow the economy.
DOJ announces $9M settlement with Washington Trust for redlining in Rhode Island
The Department of Justice reached a $9 million settlement Wednesday with Westerly, R.I.-based Washington Trust over race-based lending discrimination and redlining in the state, saying the bank denied lending services to Black and Hispanic neighborhoods from 2016 to 2021.
FDIC’s Hill: Pause new bank regulations amid interest rate environment
The Federal Deposit Insurance Corp. Board's Vice Chair Travis Hill urged his fellow regulators Thursday to delay implementing new banking regulations until interest rates stabilize, saying rushed rules amid precarious economic conditions could impact consumer lending.
Outstanding commercial and multifamily debt is on the rise
Fewer of these mortgages are paying off, adding to the amount of credit on investors' books, the Mortgage Bankers Association said.
Housing is in a double-dip recession, First American says
High mortgage rates and the lack of inventory for sale pushed the sector into a downturn twice recently – between May and November last year and in May of 2023 – according to First American
Fannie Mae selling billions of dollars worth of reperforming loans
The mortgages are part of a program that received congressional scrutiny earlier this year.
Multifamily starts fall to under half of the previous two-year average
Decreased availability of bank capital for new commercial construction helped slow activity from the previous nine quarters, according to a new report.
The mortgage rate forecast is not too promising
Even though the average for the 30-year fixed loan declined for the second straight week, a buoyant economy will affect future movements, Freddie Mac said.
Load More
Couldn’t load more articles. Try again.