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Fannie Mae researchers found that risk-based mortgage costs make up only a small part of overall housing costs.

Black borrowers refinancing their homes on average received slightly lower appraisal values relative to automated valuation models, while white borrowers on average received slightly higher values, according to a new report from Fannie Mae. The report, “Appraising the Appraisal,” analyzed 1.8 million appraisals conducted as part of refinancing applications in 2019 and 2020. Also among its key findings:

The researchers found that the disparities that emerged from the analysis of 1.8 million appraisals from 2019 and 2020 were statistically significant.

Today, 20211202 (2nd December 2021), is a palindrome in the YYYYMMDD format. That aside, sorry the commentary is a little late this morning: I went out drinking after my yearly review with my cat Myrtle last night. It did not go well. By the way, she is the one that reviews my performance; I don’t review hers. Now I’m on some kind of quarterly evals going forward: my revenue barely covers her line-caught halibut expenses, and those expenses have been increasing. (Versus that information, of real use is SoFi’s 3-minute video by Hamaria Crockett with a f...

The chief finding from Fannie Mae's November National Housing Survey (NHS) was an increase in consumer pessimism. The company says respondents to the right track/wrong track question expressed the most downbeat attitude in 10 years. Seventy percent of those expressing an opinion about the direction of the economy said it was on the wrong track, a 5 point month-over-month increase. Only 22 percent chose the opposite answer. The right/wrong track question is not among the six that are used to construct Fannie Mae's Home Purchase Sentiment Index (HPSI), but four of the six compone...