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Mortgage rates fall as labor market normalizes

Housing Wire

From the Fed: In the week ended March 2, initial claims for unemployment insurance benefits were flat, at 217,000. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing. percent, the U.S. Bureau of Labor Statistics reported today.

Marketing 497
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FHA borrower fee gridlock draws ire of industry

Housing Wire

The Federal Housing Administration ’s (FHA) decision to withhold a mortgage insurance premium cut has confounded mortgage policy experts and industry stakeholders. Income from FHA premiums go into the general Treasury fund when Congress passes a Transportation and HUD appropriations bill. The money can then be used for other programs.

Insurance 437
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Inflation cooled further in March, but shelter costs are still high

Housing Wire

Indexes that contributed to the annual increase were food (+8.5%), motor vehicle insurance (+15.0%), household furnishings and operations (+5.6%), recreation (+4.8%), and new vehicles (+6.1%). This was the smallest 12-month increase since the year ending in May 2021 and the ninth consecutive month of declines. compared to March 2022.

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Jobs data shows the truth about the labor market

Housing Wire

Job gains occurred in professional and business services, government, health care, construction, transportation and warehousing, and social assistance. Here is the breakdown of the jobs created this month, another big month for the government, which typically doesn’t continue at this pace. percentage point to 3.7 From the St.

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Why a good jobs report is bad news for the Fed

Housing Wire

The government sector has had difficulty hiring people; some didn’t bother to go back to work for them. Transportation and warehousing jobs falling isn’t a surprise since many companies have hired too many people in that sector. See here for a chart from the Department of Labor on seasonally adjusted dataf or unemployment insurance.

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Opinion: Fannie Mae’s title insurance pilot program overreaches

Housing Wire

Unfortunately, one of the proposals the President mentioned in the SOTU was to revive a previously discredited and shelved pilot program that would waive the requirement for lender’s title insurance on certain refinances by Fannie Mae. By law it is not an insurer nor is it capitalized or regulated to do this. million in claims.

Insurance 437
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Increase in COVID cases holding back employment numbers

Housing Wire

Private employment gains were largely driven by some of the industries hit hardest by the pandemic – with rises in transportation and warehousing (+145,000) and professional and business services (+60,000), as well as an increased demand for those in the health care sector (+104,000). census count. million jobs, boost GDP by 3.5%