Secondary Market

The annual National Property Preservation Conference once again brought together a cross-section of field services vendors, mortgage servicing professionals, and representatives of government agencies and the GSEs to “discuss pressing issues and develop solutions.”

Under new deal, Fannie Mae and Freddie Mac will be allowed to invest up to $1 billion annually in the Low-Income Housing Tax Credit market as equity investors.

“Despite the resurgence in tappable equity among U.S. mortgage holders, elevated interest rates are making homeowners reluctant to extract that wealth,” said Andy Walden ICE’s VP of Enterprise Research.

The MBA reports that the average national median mortgage payment rose to $2,199 in October, a $143 year-over-year rise. Here are the factors that were “dissuading would-be buyers from entering the housing market.”

“Incoming data shows that the construction of new homes rebounded in September, but as rates keep rising, home builders appear to be losing confidence,” said Freddie Mac Chief Economist Sam Khater. Check out the data and further insights after the link.

From 2018-2022, the GSE has invested more than $3 billion to expand affordable housing supply and meet critical housing needs in underserved communities through Low-Income Housing Tax Credit equity investments. Here’s how those investments are paying off.

Freddie Mac reports that mortgage rates reached levels last seen in December 2000, as the 30-year fixed-rate mortgage rose 12 basis points week-over-week and low supply continues to create affordability challenges for prospective buyers.

According to MeridianLink’s latest Nationwide Mortgage Lending Survey, more than 30% of Americans are less confident in their ability to afford a home compared to five years ago. In addition, 55% expect mortgage rates to continue rising through the remainder of 2023.

Mortgage rates gained just one basis point week-over-week according to Freddie Mac, marking the sixth consecutive week that the 30-year rate exceeded the 7% mark, pushing down home builder sentiment nationwide.

An analysis of 580k home equity loans by LendingTree showed that cash-back levels vary from state to state.