FHFA: Government to back mortgages up to $970,800 in 2022
Baseline conforming limit rises 18% to $647,200 The Federal Housing Finance Agency (FHFA) today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. The federal government will now back mortgage loans of nearly $1 million, with the new ceiling loan limit for ...
Home sales rose in October as investors rushed into the market
KEY POINTS Sales of previously owned homes in October rose 0.8% to a seasonally adjusted annualized rate of 6.34 million units, according to the National Association of Realtors. There were 1.25 million homes available for sale at the end of October, which is 12% lower compared with a year ago. The ...
October saw mortgage apps rise for new homes by 6%
MBA’s report found that new home sales increased by 3% from September Mortgage applications for new home purchases dipped by 15.2% year-to-year in October, according to a monthly builder survey published by the Mortgage Bankers Association this week. However, on a month-to-month basis, activ...
Housing starts disappoint in October, falling by 0.7%
While housing starts fell by 0.7% to 1.52 million in October, there was a silver lining Construction of new homes took a dip in October, with housing starts declining month-over-month by 0.7% to 1.52 million, according to a report published by the U.S. Census Bureau and the U.S. Department of H...
Home price growth, low mortgage rates boost MMI fund
No changes to mortgage insurance premiums as macroeconomic uncertainties loom The Department of Housing and Urban Development is taking a cautionary approach to changes to mortgage insurance premiums after a banner year for its Mutual Mortgage Insurance (MMI) fund. The capital ratio of the Federa...