HUD Increases Flood Insurance Options for FHA Mortgages The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA) recently announced that effective December 21, 2022, it will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies that conform to FHA requirements from private insurance providers. The change was
Mortgage Originations Experience Biggest Annual Drop in 21 years ATTOM Data says mortgage originations are experiencing their biggest annual drop in 21 years. The data comes from their third-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 1.97 million mortgages secured by residential property (1 to 4 units) were originated in Q3 2022
Airbnb Rolls Out New Software to Screen & Prevent Parties Back in August we posted about Airbnb’s plans to roll out new “anti-party tools” in the US and Canada to help identify potentially high-risk reservations and prevent those users from taking advantage of their platform. Now, fast-forward to mid-November and they have launched a new
Housing Starts & Permits Continue to Fall The U.S. government is reporting that privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1425,000, which is 2.4% lower than September’s revised number and 8.8% lower than one year ago. October’s rate for units in buildings with five units or more was 556k.
Yardi Says Rents Rising Modestly as Rate Hikes Take Center Stage According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were $ 1,727 in October, up $ 3 from September. Yardi says The Fed’s recent actions have roiled the housing market, which is sure to impact multifamily demand, property values and
Local Market Monitor’s National Economic Outlook for November ’22 Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook By Ingo Winzer November, 2022 Recent data about more jobs and an improving Gross Domestic