CPI Says Food Prices See Highest Increase Since Carter Years
The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was up 0.1% in August, 2022. However, the all items index was up 8.3% for the 12 months ending in August. Click here to read more.
Delinquencies & Foreclosures Remain Near 20-Year Lows in June
According to the latest CoreLogic Loan Performance Insights Report, in June 2022, 2.9% of mortgages were delinquent by at least 30 days or more including those in foreclosure. This figure represents a 1.5-percentage point decrease in the overall delinquency rate compared with June 2021. Click here to read more.
MBA Says Mortgage Applications Continues Downward Trend
A mid-September “Chart of the Week” from the Mortgage Bankers Association illustrates how overall mortgage application activity continues to trend lower. Click here to read more.
Where Do People Pay the Most in Property Taxes in 2022?
The Tax Foundation says property taxes are the primary tool for financing local government as well as generating revenue in some states. Click here to read more.
Wells Fargo to Pay $94 Million to Settle Mortgage Forbearance Class-Action
HousingWire is reporting that Wells Fargo agreed to pay $94 million to settle a class-action lawsuit that placed more than 200k mortgage borrowers into forbearance during the pandemic, unlawfully and without their consent. Click here to read more.
Building Materials Prices Up 14.3% Year-Over-Year
The NAHB’s Eye on Housing recently crunched the numbers from the most recent BLS Producer Price Index, where they found building materials prices have climbed 4.9% through the first eight months of 2022 and 14.3% year-over over. Click here to read more.
Zillow Says Home Values Decline for 2nd Month
A new report from Zillow says home values slipped for the 2nd consecutive month as mortgage costs continue to sideline buyers. Click here to read more.
Lead-Lag Report; U.S. Tends to Be Better Value than Canada
A recent episode of the Lead-Lag Report podcast featured Stephen Punwasi who discussed housing issues primary in Canada, but as the short 4-minute clip just below points out “…overall the US tends to be better value…” Click here to read more.
Mortgage Rates Highest Since 2008
Infographic: We saw recently how mortgage applications have taken a nosedive in the face of rising interest rates, intense competition and rising prices. Today’s graphic from Statista illustrates how the average 30-year fixed mortgage rate has sharply risen to levels not seen since 2008. Click here to read more.
Have you made a positive difference to our communities and society at large?
National REIA is proud of our association’s and their member’s contributions to their communities. We promote a spirit of “giving back” throughout our industry. Real Estate Investing has enhanced our lives and given us success so our mission to positively impact our communities is at the core of what we do.
If you have a great story of how you have made an impact in your community or you have a member that has done amazing work to contribute, please take a moment to submit the story to Caleb@nationalreia.org for inclusion in our publications, social media, and our website. We are excited to hear how our industry and those of us in it have made a positive difference to our communities and society at large!
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