The National Association of Home Builders is seeing signs that the slump is over for the multifamily sector, the Washington-based trade association has reported.Citing its Multifamily Market Index, the NAHB said the component that gauges current market conditions for for-sale units jumped to 64.0 in the first quarter, up from 46.7 in the first quarter of 2003. The indexes gauging current market conditions for low-income and market-rate apartments both were "well above" their levels of a year earlier, at 49.4 and 48.1, respectively. The MMI is based on a quarterly survey of multifamily builders and property owners. "The evolving upswing in the job creation numbers bodes well for the multifamily sector," said David Seiders, the NAHB's chief economist. "Since job creation often leads to new household formation -- and new households often tend to be renters or first-time condo buyers -- it looks like there are better days ahead for the multifamily segment of the housing market." The NAHB can be found online at http://www.nahb.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28