NAR: Pending Sales Down 2.7% in May
Pending sales declined largely because property listings are down. NAR Economist Yun calls market “resilient with approximately three offers for each listing.”
Average Long-Term U.S. Mortgage Rate Rises to 6.71%
Freddie Mac: The 30-year FRM increased, snapping a three-week pullback from 6.79% on June 1, which was the highest level so far this year.
FHA Increases Large Multifamily Loans Threshold
The threshold – now raised to $120M from $75M – offers greater flexibility for lenders when underwriting multifamily large loans.
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