HousingWireHousingWire Today, the jobless claims data again showed why mortgage rates continue to be elevated, confirming that the labor market isn’t breaking. The labor market is getting softer but hasn’t broken yet, as it has before every recession post World War II. Mortgage rates have remained mostly in a range…
Continue reading →HousingWireHousingWire Home Equity Conversion Mortgage (HECM) endorsements saw a healthy increase in October 2024. They jumped by 11.3% to 2,392 loans for the month, according to data compiled by Reverse Market Insight (RMI). But after additional data about the month of October was released, one metric of reverse mortgage industry…
Continue reading →HousingWireHousingWire Scott Turner, the nominee-designate to lead the U.S. Department of Housing and Urban Development (HUD) in the incoming Trump administration, has previously expressed dim and skeptical views about federal programs designed to assist people experiencing poverty and homelessness. These views could illustrate a lack of commitment to HUD programs…
Continue reading →HousingWireHousingWire Rising mortgage rates suppressed applications in the Mortgage Bankers Association (MBA) final mortgage applications survey index of 2024, released on Thursday. Unsurprisingly, application volume dropped significantly even with a seasonal adjustment to account for the holidays. Mortgage demand declined 21.9% from two weeks earlier during the week ending Dec….
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