Tag Archives: Primary Mortgage Market Survey (PMMS)

NAR reported a steadying of pending home sales in the month of November, as contract signings grew in the Northeast, Midwest, and West, but slid in the South.

The MBA, NAR, and NAHB have sent a letter to the Board of Governors of the Federal Reserve about the industry’s concerns over negative market impacts stemming from the Fed’s monetary policy actions.

Ginnie Mae reports that its June 2023 recorded MBS issuance will support the financing of 130,000-plus households nationwide, including more than 62,000 first-time homebuyers.

Chief Economist Mark Fleming of First American states that “given the large loss of affordability buyers experienced this year, a possible improvement next year will be a welcome relief for potential buyers.”

COVID-19 presented mortgage servicers with a new challenge, creating and executing new customer solutions, while managing the impact of the pandemic on their own workforce.

The number of unsold homes in July increased for the first time since 2019, climbing by a record 30.7% year-over-year, according to Realtor.com.

MBA reports the overall forbearance rate in June nearly plateaued, with just a four-basis-point month-over-month decline, as approximately 405,000 homeowners in the U.S. remain in forbearance plans.

Redfin reports that nearly 60,000 home-purchase agreements fell apart in June, as mortgage rates steadily climbed toward the 6%-mark, thus compounding affordability issues.

With residential construction continuing to slow, the Fed’s rate hike of last week and its ripple effect on mortgage rates may push housing starts down for months to come.

NAR reports that foreclosures and short sales represented less than 1% of total home sales in April 2022, but down slightly from April 2021’s totals.