A&D Market Digest for Week of 8/21/23

Are you ready to take your mortgage business to new heights? We have some exciting news for you! In the latest episode of A&D Digest, we delve into the world of mortgage lending and capital markets, bringing you valuable insights and powerful tools to help you thrive.

Alex Suslov, Head of Capital Markets, and Michael Pearson, Senior Vice President of Business Development, cover topics such as market increases, assistance with ordering appraisals, program updates, pricing changes, and more.

• NMP — MBA Says New Basel Capital Rule Proposal Threatens To Upend Mortgage Market. MBA has voiced strong opposition to the Basel capital rule changes. Increased Minimum Capital Requirements: The proposal includes a 15-20% rise in overall minimum capital standards for larger banks, potentially stifling lending and stunting economic growth.
• NMP — Housing Market Witnesses First Monthly Sales Gain Since February. The National Association of Realtors (NAR) reported a slight increase in pending home sales for June, the first monthly gain since February. The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose by a modest 0.3% to 76.8 in June.
• MReport — Rent Prices Continue to Moderate, Offering Financial Relief for Renters. According to the Realtor.com June Rental Report, new research found that rent prices dropped even further, down 1.0% year-over-year, offering some relief for renters. Meanwhile, the median asking rent in the 50 largest metros analyzed increased to $1,745, up by $7 from last month and down $31 from its July 2022 peak.