Monthly Mortgage Payments Hit Record High in April
According to a new report from Redfin, high home prices and mortgage rates are pushing the monthly mortgage payment on a median-priced home to $2,573. Source: DS News
Radian Appoints Sumita Pandit SVP and CFO
Replacing J. Franklin Hall as CFO, Pandit will be responsible for all of Radian’s financial functions, reporting, planning and analysis, enterprise capital planning, investment portfolio management, and investor relations. Source: [...]
The Week Ahead: House Committee to Examine FHFA Actions
FHFA Director Sandra L. Thompson will testify before the House Financial Services Committee to discuss the latest measures taken by the FHFA to execute its mission of ensuring the safety [...]
April Existing-Home Sales Drop 3.4% MoM
Existing-home sales dropped 3.4% to a seasonally adjusted annual rate of 4.28 million units at a median price of $388,800. Source: DS News
Record-High Construction of Multi-Family Homes Helps Ease Housing Shortages
According to Realtor.com's April Rental Report, rent growth slowed to its lowest rate since the onset of the pandemic, as new data revealed a significant increase in multi-family construction is [...]
Ginnie Mae’s MBS Portfolio Hits $2.39T in April
According to Ginnie Mae, April’s mortgage-backed securities issuance supports the financing of more than 112,000 households, including assisting more than 50,700 first-time homebuyers. Source: DS News
Despite Market Conditions, Potential Existing Home Sales Increased 0.45% MoM
Based on April’s data, potential existing-home sales increased to a 5.34 million seasonally adjusted annual rate, a 0.45% month-over-month increase. This represents a 53.3% increase from the market potential low [...]
SFR Growth Dipped to 4.3% in March
While overall U.S. rent growth remains slightly elevated above pre-pandemic rates, higher-priced property gains are normalizing, according to CoreLogic's latest Single-Family Rent Index. Source: DS News
FHA Amends Policies to Expedite HECM Processing
New policies set forth by the FHA in Mortgagee Letter 2023-10 will shorten the timeframe for mortgagees to receive Home Equity Conversion Mortgage assignment funds. Source: DS News