W. J. Mencarow | Paper Source Online

Fannie Mae: Growing List of Fake Employers Showing up on Mortgages

Behind The News, Fraud, Mortgages / By W. J. Mencarow

Published by Housing Wire | January 29, 2020 Fannie Mae’s bulletin also provides several examples of fraudulent activity that lenders should be on the lookout for. Back in 2018, Fannie Mae issued a warning to lenders after identifying more than 30 apparently fake companies that were appearing on borrowers’ mortgage documentation as their place of employment. There …

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10 Cities Where Sellers Are Slashing Home Prices the Most

Economy / By W. J. Mencarow

Published by REALTOR.com | July 25, 2022 The parts of the country seeing the steepest price cuts tend to be those that attracted lots of interest from out-of-state buyers and prices surged the most, far out of reach of many local would-be buyers. Sellers who watched as their neighbors’ homes—ones with kitchens and bathrooms that …

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Economist: U.S. Home Prices to Plunge ‘Substantially’ on ‘Cratering’ Demand

Interest Rates, Mortgages / By W. J. Mencarow

Published by the New York Post | July 28, 2022 Mortgage rates have risen steadily as the Federal Reserve hikes its benchmark interest rates in a bid to cool the economy. U.S. home prices are on the cusp of a major correction due to “cratering” demand among cash-strapped buyers, a prominent economist warned in a …

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Home Purchase Activity Nears Pandemic Levels

Economy, Mortgages / By W. J. Mencarow

Published by FOX Business | July 27, 2022 The survey found stabilizing mortgage rates and increases in for-sale inventory The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey found mortgage applications fell 1.8% for the week ending July 22, 2022, from the previous week. The decrease was the fourth week in a row as home purchase …

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Mortgage Demand Drops to a 22-year Low as Higher Interest Rates and Inflation Crush Homebuyers

Economy, Interest Rates, Mortgages / By W. J. Mencarow

Published by CNBC | July 20, 2022 Buyers have lost considerable purchasing power as rates have almost doubled since earlier this year. The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last week compared with the previous week, hitting …

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Increased Foreclosure Activity in First Six Months of 2022 Approaches Pre-Covid Levels

Economy, Mortgages / By W. J. Mencarow

Published by Attom Data | July 14, 2022 U.S. Foreclosure Starts up 219 Percent in First Six Months of 2022; 96 Percent of Major Metro Areas Saw an Annual Increase in Foreclosure Filings; Foreclosure Rates Highest in Illinois, New Jersey, and Ohio ATTOM, a leading curator of real estate data nationwide for land and property data, today released its …

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Breitbart: Homebuilder Sentiment, Apple Report Send Shudders Through Economy

Economy / By W. J. Mencarow

Published by Breitbart News | July 18, 2022 According to a recent Primerica study, 77 percent of middle-income families are preparing for a recession with nearly three-quarters cutting back on spending. The key piece of data we were waiting on today is the National Association of Home Builders index (NAHB), which reflects how home builders are feeling. …

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U.S. Housing Market’s Underproduction Crisis Getting Worse, New Analysis Finds

Behind The News, Economy / By W. J. Mencarow

Published by FOX Business | July 15, 2022 The U.S. homes deficit doubled from 1.65 million to 3.8 million between 2012 and 2019 Up For Growth, a non-profit committed to solving the United States’ housing shortage, is sounding the alarm on the nation’s underproduction of homes. According to a study released by the organization on July 14, the …

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Mortgage Rates Jump as Home Affordability Drops

Economy, Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | July 14, 2022 The average for a 30-year fixed-rate loan is now at 5.51%, up 2.88% from a year ago U.S. mortgage rates are up again after two straight weeks of declines, as the cost of homeownership continues to price would-be buyers out of the housing market. That’s causing some …

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Home Sale Cancellations Hit Highest Rate Since Start of Pandemic

Economy, Interest Rates / By W. J. Mencarow

Published by FOX Business | July 12, 2022 Higher mortgage rates, inflation contributing to cancellations Approximately 600,000 home purchase agreements fell through in June, according to a new analysis by Redfin. The figure is equivalent to 14.9% of homes that went under contract during the month, an increase from 12.7% in May and 11.2% a year …

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