Fed Raises Nominal Interest Rate by 0.25%
As expected, the Federal Reserve raised rates again at the end of their May meeting by a quarter point—this is now the tenth-straight increase. Source: DS News
Annual Home Price Growth Falls to 10-Year Low
While annual home price growth fell to lows not seen in a decade, growth still increased for the 134th consecutive month in March 2023. Source: DS News
Mortgage Rates Remain Relatively Steep Compared to Record Lows
Nationwide, the average payment on a new mortgage is now $2,317 a month, according to a new report from LendingTree, as new data revealed mortgage payments owed by borrowers seeking [...]
Sagent Extends DCU Partnership for Five More Years
Extension of deal combines the usage of Sagent’s LoanServ fintech platform across Digital Federal Credit Union’s mortgage servicing lifecycle. Source: DS News
Ginnie Mae Shares Further Details on the LIBOR Transition
Ginnie Mae has published a new Memorandum announcing announced it will transition all outstanding LIBOR Classes of Ginnie Mae Multiclass Securities after June 30. Source: DS News
First Republic Becomes Second-Largest Bank Failure in History
First Republic Bank, with assets of $229B, was taken over by the FDIC and purchased by JPMorgan Chase. Source: DS News
Landlords Reveal the Most Burdening Rental Management Activities
As peak rental season approaches, a new Zillow survey revealed that roughly 92% of landlords reported that maintaining properties and screening renters are the biggest hassles of property management. Source: [...]
Lack of New Listings Prevent Home Prices From Declining Further
As homeowners continue to hang onto low mortgage rates, a new report from Redfin revealed new listings of homes for sale fell 22.4% nationwide from last April, while pending home [...]
Fannie Mae Executes Fourth CIRT Transaction of 2023
As part of the GSE’s effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market, CIRT 2023-4 transfers $501 million-plus in mortgage credit risk [...]