The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

In a purchase market, rookie LOs may struggle

Rookie LOs in 2020 could ride the refi wave and rack up a hefty monthly paycheck without Herculean effort. But these days, they'll have to sing for their supper.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

With a rise in natural disasters, including wildfires, hurricanes, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Why is public construction spending tanking?

Private spending growth offsets decline for a mediocre December

Construction rose tepidly in December, with private home building offsetting a decline in public construction.

Despite the modest growth, construction spending is now reaching its greatest level of activity since March 2009.

Total spending climbed a mere 0.1% after a 0.8% growth in November. Strength was in private residential outlays which jumped 2.6% in December, following a 1.1% rise the month before.

By subcomponents, new single-family outlays gained 3.4% in December, while new multifamily rose 0.5%. Ex-new homes increased 2.0% in December. Private nonresidential construction spending dipped 0.7%.

Total construction activity for December 2013 was $930.5 billion, 0.1 percent above the revised November 2013  total of $929.9 billion.

Public outlays fell 2.3% after a 1.4% decline in November, reaching its lowest level in 12 months.

Total construction outlays were up 5.3% on a year-ago basis in December.

Homebuilders are more optimistic than recent sales numbers. This could be a response to lack of supply and concern that mortgage rates are likely to rise later this year as the Federal Reserve cuts back on purchases of mortgage-backed securities.

Market Consensus before announcement Construction spending jumped 1.0% in November, following a 0.9% gain the month before.

The November increase was led by the nonresidential and residential components. Private nonresident outlays grew 2.7%, following an increase of 0.5% in October. Public outlays declined 1.8% but followed a sizable 3.1% boost in October.

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