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Government mortgage loan demand drops as affordability issues loom

Housing Wire

Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. Overall, mortgage applications declined 4.1% last week on a seasonally adjusted basis, down from one week earlier, according to the Mortgage Bankers Association (MBA). last week, down from 24.4%

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Should government help create housing market supply?

Housing Wire

In 2021, we already have the unhealthiest housing market — in terms of low housing market supply and multiple bids for each sale — than we have had in the last 10 years. Adding to the built-in demand from excellent housing demographics, our recent history also contributes to the hot market. Join today with an HW+ Membership !

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FHFA: Government to back mortgages up to $970,800 in 2022

Housing Wire

The federal government will now back mortgage loans of nearly $1 million, with the new ceiling loan limit for one-unit properties in most high-cost areas now $970,800 — or 150% of $647,200. Median home values exploded across dozens of housing markets across the country in 2021. House prices increased 18.5%

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Mortgage rates fall as labor market normalizes

Housing Wire

Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. For now, we can say the labor market isn’t tight anymore, but it’s also not breaking. At the time this would be a speedy labor market recovery, and it happened on schedule, too Total employment data 4.

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US government to sell off $13B of mortgage bonds from failed banks Signature and SVB

Housing Wire

government is seeking to sell $13 billion worth of mortgage bonds amassed after the failures of both Silicon Valley Bank (SVB) and Signature Bank earlier this year. BlackRock Financial Market Advisory had preliminary conversations with investors about the bonds, the report said, citing unnamed sources.

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Secondary mortgage market adjusts to higher-for-longer rates 

Housing Wire

The housing market has been on a topsy-turvy roller-coaster ride in recent years that has been particularly neck wrenching since this past fall, fueled by stubbornly high inflation and a still-strong jobs market. at the end of April, according to HousingWire ’s Mortgage Rates Center. They crested near 7.6%

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Private equity and insurance companies piling into residential mortgages

Housing Wire

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. These strong fund flows are resulting in tighter credit spreads, higher prices, and an increased focus on sourcing new originations.

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