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News for: Scotsman Guide
Showing 1 - 24 of 214 results
Oct 16, 2026 11:42 AM — Interest Rates
Warsh’s silence on resurgent inflation is deafening
Scotsman Guide
After two hotter-than-expected inflation reports, the Federal Reserve faces pressure to decide whether to raise its benchmark rate again at its October meeting. Chair Kevin Warsh has abandoned forward guidance, while several Fed policymakers argue that clearer signals would help households, businesses, and markets plan. The article also notes that AI investment is boosting demand now, though Warsh... more
Oct 15, 2026 4:43 PM — Mortgage Lending
Non-QM’s growth story is just getting started, industry pros say
Scotsman Guide
Union Home Mortgage executive Chad Schoep urged mortgage originators to offer non-qualified mortgage loans, warning that borrowers may choose lenders with a simpler path. Non-QM loans typically allow more flexible underwriting than qualified mortgages, and originators can benefit by educating their sales teams about the products.
Oct 15, 2026 11:00 AM — Mortgage Lending
Manufactured housing gets a federal boost, but barriers remain
Scotsman Guide
A new federal housing law aims to expand manufactured housing by easing construction requirements, improving mortgage access, and encouraging less restrictive zoning. But implementation may be delayed by regulatory and staffing constraints, varied local rules, and limited affordable financing. Buyers who own homes on rented land often rely on home-only loans with rates as high as 12%. Despite thes... more
Oct 15, 2026 10:39 AM — Interest Rates
Another inflation report just flashed warning signs
Scotsman Guide
U.S. producer prices rose 1.3% in September, the largest monthly increase since March 2022, pushing annual wholesale inflation to 6.3% and significantly exceeding economists’ forecasts. Higher gasoline, fuel, and food prices drove much of the increase. Because PPI contributes to the Fed’s preferred inflation measure, the report—along with hotter consumer inflation—could affect whether the Fed rais... more
Oct 14, 2026 3:29 PM — Mortgage Rates
Fannie Mae slashes origination forecast by 18% for 2027
Scotsman Guide
Fannie Mae's updated economic projections indicate that total single-family mortgage originations may drop below $2 trillion next year, showing a significant revision from earlier forecasts. The anticipated average mortgage rate for 30-year loans has increased to 7.5%, up from a previous estimate of 6.7%. Additionally, Fannie Mae has raised its forecast for 10-year Treasury yields to 5.3%, affecti... more
Oct 14, 2026 2:15 PM — Housing Market
Housing’s factory-built future is taking shape
Scotsman Guide
Aro Homes CEO Simon Boag argues that applying automotive manufacturing methods to homebuilding can make housing more affordable, durable, and consistent. His company is developing modular homes that use factory production, repeatable designs, and higher-volume manufacturing to improve construction efficiency.
Oct 14, 2026 8:10 AM — Interest Rates
Hot CPI inflation print puts October rate hike in play
Scotsman Guide
In September, consumer price inflation rose to 3.7% year-over-year and 0.6% from the previous month, the fastest growth since April. Core inflation remained steady at 2.6% year-over-year, exceeding economists' expectations. This data has increased the likelihood of the Federal Reserve raising interest rates at their upcoming meeting, following their recent quarter-point increase. The Fed is facing... more
Oct 14, 2026 6:29 AM — Mortgage Rates
Elevated rates keep mortgage demand on one-way descent
Scotsman Guide
Mortgage applications fell by 2.7% last week as financing costs remained high, with average rates for 30-year home loans reaching 7.5%. Purchase applications have declined for over a month, down 4% week-over-week and 16% year-over-year, while refinance activity dropped 0.4% and is down 56% from last year. Joel Kan from the MBA noted that the rise in rates, driven by inflation and government bond y... more
Oct 13, 2026 3:06 PM — Housing Market
Office sector continues to recover as rents rise and supply dwindles
Scotsman Guide
The U.S. office sector showed recovery in Q3, with leasing volumes up 6.4% year over year amidst a drop in inventory. While gateway markets saw a 13% increase in leasing, the Sun Belt's growth slowed. Variations in recovery rates are evident across regions, with some areas nearing 2019 leasing levels. Despite increased leasing activity, office-using employment declined slightly. The limited new co... more
Oct 13, 2026 2:30 PM — Mortgage Lending
UAD 3.6 appraisal overhaul puts mortgage borrowers on the hook for higher costs
Scotsman Guide
The mandated implementation of the Uniform Appraisal Dataset (UAD) 3.6 is causing significant disruptions for mortgage brokers, leading to increased costs and delays for consumers. The rollout has been poorly managed, with some lenders hesitating to adopt the new appraisal requirements, resulting in bottlenecks and higher prices for modernized appraisals. As a consequence, mortgage brokers must ca... more
Oct 13, 2026 1:54 PM — Mortgage Lending
HUD officials talk mortgage costs, lender participation and housing supply
Scotsman Guide
At the Mortgage Bankers Association’s annual conference, HUD leaders Joseph Gormley and Matt Jones discussed initiatives aimed at reducing industry costs, attracting more lenders and private capital to government-backed housing finance, and expanding access to affordable housing. Their open conversation highlighted the department's strategic priorities and efforts in the current housing finance la... more
Oct 13, 2026 11:06 AM — Housing Market
Housing experts not overly encouraged by September’s slight rise in existing-home sales
Scotsman Guide
In September, existing-home sales saw a slight increase of 1.5% from August, reaching an annual pace of 3.99 million, but remained 2.2% lower than a year ago. Despite halting a three-month decline, sales are at a multiyear low. The unsold housing inventory rose, highlighting a market with more sellers than buyers amid affordability issues. Average mortgage rates climbed significantly during Septem... more
Oct 13, 2026 9:09 AM — Interest Rates
Fed’s Waller says AI-fueled inflation could persist for years
Scotsman Guide
Federal Reserve Governor Christopher Waller stated that inflationary pressures due to artificial intelligence investment will likely persist for two to three years. While productivity gains from AI are anticipated in the long term to reduce inflation, current inflation reacceleration stems from various factors, including energy crises and AI spending. The Fed raised interest rates for the first ti... more
Oct 13, 2026 7:23 AM — Mortgage Lending
Mortgage industry leaders champion MBA Opens Doors Foundation mission
Scotsman Guide
The MBA Opens Doors Foundation, founded by Dave Stevens and Dan Arrigoni in 2011, supports families with critically ill children by providing housing assistance to prevent them from losing their homes. At a recent event in Chicago, two contributors, Tawn Kelley and Jean Bradley, were honored for their commitment to the foundation's work. The foundation has aided nearly 22,000 families, ensuring do... more
Oct 12, 2026 9:29 PM — Mortgage Lending
Pulte bows out of hotly anticipated MBA Annual appearance
Scotsman Guide
Bill Pulte, director of the Federal Housing Finance Agency (FHFA), canceled his appearance at the Mortgage Bankers Association’s annual conference, citing scheduling conflicts. His initial participation was expected to include the announcement of a potential shift to bi-merge credit reporting requirements for loans, a plan previously suggested by his predecessor to reduce costs for consumers. The ... more
Oct 12, 2026 3:52 PM — Housing Market
MBA panel says affordability challenges don’t end at the closing table
Scotsman Guide
The process of achieving homeownership in the U.S. is becoming more challenging due to factors beyond just high interest rates. Rising costs associated with homeownership, such as increased insurance premiums, property taxes, and maintenance expenses, are contributing to these difficulties. During a panel at the Mortgage Bankers Association's annual conference, industry experts discussed the need ... more
Oct 12, 2026 3:13 PM — Housing Market
U.S. industrial sector faces historic surge of pledged investments
Scotsman Guide
The growth of U.S. manufacturing investment is significant, with commitments reaching $3.5 trillion since January 2025, spurred by tax incentives like the One Big Beautiful Bill and the CHIPS Act. Major corporations, including Nvidia and Micron Technology, are launching expansive projects, such as a $100 billion chip plant, marking a historical surge in investments. Despite the pledges, uncertaint... more
Oct 12, 2026 1:52 PM — Interest Rates
Hammack says Fed rate hikes are unlikely to mitigate key inflation drivers
Scotsman Guide
Cleveland Fed President Beth Hammack emphasized the need for a restrictive monetary policy to address rising inflation during her remarks at the National Association of Business Economists. She attributed inflation to broad cost shocks, including energy prices and supply-side pressures, and highlighted the Federal Reserve's recent quarter-point rate hike, increasing rates to a target range of 3.75... more
Oct 12, 2026 9:08 AM — Mortgage Rates
Home building slump expected to continue through 2027, says NAHB chief economist
Scotsman Guide
The chief economist of the National Association of Home Builders (NAHB) forecasts a continued decline in U.S. single-family housing production due to rising financing costs, weakening demand, and supply-side restrictions. Production is expected to drop by 7% in 2025, with a further decline projected for 2026 and 2027. Dietz highlights that persistent economic imbalances and higher existing home pr... more
Oct 11, 2026 9:42 PM — Mortgage Rates
High mortgage rates are ‘leaving a mark,’ MBA economists observe
Scotsman Guide
The Mortgage Bankers Association (MBA) held its annual conference amid logistical challenges, where economists emphasized the need for mortgage originators to remain resilient in a persistently high interest rate environment. Chief economist Mike Fratantoni projected that 30-year mortgage rates would remain above 7% throughout next year, impacting home sales, prices, and origination volume through... more
Oct 9, 2026 4:16 PM — Housing Market
Tariffs adding to price pressures as more families face heavy debt loads
Scotsman Guide
Research from the Federal Reserve Bank of New York indicates that tariffs can take up to a year to affect consumer prices significantly, with a 1% increase in average tariffs leading to a 0.25% rise in consumer goods prices after one year. The findings highlight that around two-thirds of this price increase is due to higher costs for imported goods, while some foreign exporters may reduce prices t... more
Oct 9, 2026 3:10 PM — Mortgage Lending
Federal agencies were actively rehiring as DOGE buyout program unfolded last year
Scotsman Guide
The federal government faced a significant number of employee separations in 2025, totaling 319,000, compared to previous years. This was largely due to a buyout program initiated by Elon Musk's Department of Government Efficiency, resulting in about 132,000 employees accepting offers. Many agencies, particularly the Department of Housing and Urban Development, struggled to efficiently fill the va... more
Oct 9, 2026 10:16 AM — Mortgage Rates
CRE finance executives brace for a tougher year ahead
Scotsman Guide
The commercial real estate sector's economic outlook has sharply worsened, with the CRE Finance Council's Sentiment Index dropping 17.5% to its lowest in three years. Concerns about interest rates and economic policies are driving expectations of worsening market conditions; two-thirds of respondents predict the situation will deteriorate. Liquidity concerns have risen, and optimism about governme... more
Oct 9, 2026 10:16 AM — Mortgage Fraud
Trump escalates Lisa Cook feud, forms committee to investigate mortgage fraud allegations
Scotsman Guide
President Donald Trump has established a committee to investigate allegations of false statements made by Federal Reserve Board governor Lisa Cook concerning mortgage documents dated 2021. Cook is scheduled for a closed hearing at the White House on November 5. Trump's actions have raised concerns from Cook's attorneys about the legitimacy of the process, given his prior statements expressing inte... more
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