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Mortgage applications drop as rates spike

Housing Wire

Interest in residential mortgages fell 1.2% for the week ending March 11 as mortgage rates rose to their highest levels since May 2019, according to the Mortgage Bankers Association ‘s latest survey. “Investors are weighing the impacts of rapidly increasing inflation in the U.S. of total applications.

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Despite lack of supply, existing home sales rise 6.7%

Housing Wire

“Buyers were likely anticipating further rate increases and locking in at the low rates, and investors added to overall demand with all-cash offers,” said Lawrence Yun, NAR’s chief economist. from December and mortgage rates shot up 30 basis points. Homes went under contract in just 19 days on average, down from 21 a year ago.

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Opinion: What the ICE-Black Knight merger means

Housing Wire

Many industries began to deploy electronic supply chains in the 1980’s. Lenders began to define the “trust model” of standards, contracts and shared services necessary to achieve cross industry interoperability. Consumers, communities and taxpayers are major beneficiaries.

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Underwriter shortage slowing the pace of private-label deals

Housing Wire

The supply-chain bottleneck afflicting the global economy has its own counterpart in the world of residential mortgage-backed securities, also referred to as RMBS. They are in high demand for each stage of the mortgage process, yet they are in seriously short supply in a still-booming mortgage market.

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Atlanta Home Prices Firm in the Third Qtr of 2022

Hank Miller Team

We examine list price, contract price and sold price. for contracted homes -3.4 for contracted homes +13.3 for contracted homes +32.8 This was the heart of the pandemic – also when the government handed out trillions and artificially held down mortgage rates. for contracted homes +46.7

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Non-QM lenders struggle to navigate volatile waters

Housing Wire

The mortgage market is facing a crisis today, and it’s being fueled by fast-rising interest rates. The mortgage industry, really the entire economy, is coping with fast-rising inflation further aggravated by jammed-up supply chains, the escalating war in Ukraine, and the related, expanding sanctions that are whipsawing the global economy.

Lending 384
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Fed’s Beige Book offers grim news for housing industry

Housing Wire

Financial advisory firm Mortgage Capital Trading (MCT) notes that the strong inflation numbers released yesterday , September 13, make it likely that the Federal Reserve will be more aggressive in its next round of rate hikes. “A Philadelphia — Homebuilders reported that contract signings for new homes continued to fall modestly.