Tag Archives: Reports and Studies

LenderLogix Q4 2024 Homebuyer Intelligence Report Data Indicates Possible Improvement in Affordability

The LenderLogix 2024/Q4 Homebuyer Intelligence Report Data Indicates Possible Improvement in Affordability

BUFFALO, N.Y., Jan. 21, 2025 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the fourth quarter (Q4) of 2024.

Image caption: LenderLogix.

Pre-Approvals

In Q4 2024, borrowers generated 37,831 pre-approval letters through LenderLogix’s QuickQual pre-approval platform, a 23.4% decrease from Q3 2024. The average number of pre-approved borrowers per loan officer decreased from 28.5 in Q3 2024 to 23 in Q4 2024.

The average pre-approval letter loan amount slightly decreased from $388,215 in Q3 to $322,532 in Q4. The average sales price also decreased from $446,390 to $376,436. The average down payment size shows a marginal increase from 13% in Q3 to 14.3%.

Conventional loans remained the most popular loan type for pre-approved borrowers in Q4, though decreasing slightly from 76% to 74.3% in the prior quarter. FHA pre-approvals increased somewhat from 17.9% to 19.1%. VA (4%) and USDA (1%) maintained their share from Q3 to Q4 2024.

“The overall decrease and drop in pre-approvals was expected in Q4 as this is historically a lower-volume quarter overall,” said LenderLogix Co-Founder and CEO Patrick O’Brien. “However, the decrease in average sales price is a promising sign for affordability and may indicate a potential increase in mortgage-ready borrowers as the new year begins.”

Borrower Conversion

Of the borrowers using QuickQual in Q3 2024, the average number of days between pre-approval and loan submission held steady at 91 days in Q4. The most prolonged duration between pre-approval and application increased by fifty-seven days from 593 in Q3 to 650 in Q4. The conversion rate from borrowers using QuickQual to loan application decreased slightly from 56% to 54% in Q4. Borrowers generated an average of eight pre-approval letters before converting.

“Despite a large increase in the longest duration between pre-approval and application, the average duration remained the same,” O’Brien noted. “Thus, loan officers can, on the whole, expect borrowers to continue moving through the pipeline steadily and should be prepared to accommodate them.”

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software to meet the needs of today’s mortgage lenders. The company’s suite of products addresses the speed at which today’s real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit

NEWS SOURCE: LenderLogix

This press release was issued on behalf of the news source (LenderLogix), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-q4-2024-homebuyer-intelligence-report-data-indicates-possible-improvement-in-affordability/

172 new homebuyer assistance programs and 75 new program providers emerged in 2024 to tackle homeownership affordability

Down Payment Resource's Q4 2024 HPI Report finds 2,466 homebuyer assistance programs available to support U.S. homeownership

ATLANTA, Ga., Jan. 21, 2025 (SEND2PRESS NEWSWIRE) — Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, today released its Q4 2024 Homeownership Program Index (HPI) report. The report saw the number of homebuyer assistance programs increase by 172 and the number of entities offering them increase by 75 year-over-year (YoY), bringing the total number of available programs to 2,466.

Image caption: Down Payment Resource’s Q4 2024 HPI Report.

“We are pleased to see state and local agencies adapting to the current and ongoing housing affordability crisis by adding new programs and expanding their criteria to allow for the purchase of multi-family and manufactured housing,” said Rob Chrane, founder and CEO of DPR. “We’re also seeing more flexibility in how funds can be used — a down payment, closing costs or buying down their interest rate. In a market with few homes for sale and escalating prices, down payment assistance has become vital for many buyers in helping them to become homeowners and start building wealth through equity.”

KEY HPI REPORT FINDINGS

An examination of the existing 2,466 homebuyer assistance programs on January 8, 2025, resulted in the following key findings:

The number of U.S. homebuyer assistance programs increased by 22 over the past quarter. This represents a 1% increase over the previous quarter, and a 7% YoY increase.
Grants accounted for the largest share of program gains YoY. The most substantial YoY gains were seen in grant programs (50), combined assistance programs (49), and below-market-rate (BMR)/resale-restricted programs (21).
Local housing finance agencies added the most programs in 2024. Local housing finance agencies introduced 72 programs in Q4 2024, a 60% YoY increase. Nonprofits added 50 programs, and municipalities added 46 programs during this period.
Rise in multi-family and manufactured housing programs continues: Programs supporting multi-family purchases increased by 17% YoY, rising from 686 in Q4 2023 to 805 in Q4 2024. Similarly, programs for manufactured housing grew by 14% YoY, from 804 in Q4 2023 to 914 in Q4 2024.
2024 concluded with 196 programs offering incentives for special groups. 68 programs offer special funding for educators, 54 programs for protectors, 49 programs for military Veterans, 47 programs for firefighters, 44 programs for healthcare workers, and 47 for Native Americans.

A more detailed analysis of the Q4 2024 HPI findings, including infographics and examples of the programs described in this release, can be found on DPR’s website at https://downpaymentresource.com/professional-resource/2025-kicks-off-with-record-number-of-homebuyer-assistance-programs/.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2025/01/HPI-state-by-state-data.Q42024-1.pdf.

METHODOLOGY

Published quarterly, DPR’s HPI surveys the funding status, eligibility rules and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits and other housing organizations. DPR communicates with over 1,300 program providers throughout the year to track and update the country’s wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates (MCCs) and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

X: @DwnPmtResource #downpaymentassistance #affordabilitycrisis #housingaffordability #mortgage #housingequity #downpayment

NEWS SOURCE: Down Payment Resource

This press release was issued on behalf of the news source (Down Payment Resource), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/172-new-homebuyer-assistance-programs-and-75-new-program-providers-emerged-in-2024-to-tackle-homeownership-affordability/

MCT Reports 16% Decrease in Mortgage Lock Volume Amid Market Dynamics

SAN DIEGO, Calif., Jan. 14, 2025 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced today a 16.7% decrease in mortgage lock volume compared to the previous month. Industry professionals and market enthusiasts are encouraged to download the complete report to gain comprehensive insights into the evolving market dynamics.

Image caption: Lock Volume for December by Transaction Type.

December’s mortgage activity saw a slight uptick in refinance production. However, this increase was not enough to significantly impact overall production levels. The majority of December’s mortgage activity stemmed from purchase volume, reflecting a consistent trend in the current housing market.

“The Fed is expected to hold rates steady for longer as we continue to see a strong jobs market coupled with lowering inflation,” stated Andrew Rhodes, Senior Director and Head of Trading at MCT. “As we move into 2025, nonfarm payroll and the Consumer Price Index (CPI) will continue to be critical data points providing insight into any potential rate cuts. However, the more immediate focus is on the incoming administration policy changes and their effect on the market.”

The market is currently pricing in an expectation of higher mortgage rates for a longer period, influenced by stronger-than-expected nonfarm payroll numbers and the conservative nature of the Federal Reserve’s dot plot projections.

MCT’s latest report offers an in-depth analysis of these factors, providing valuable insights to lenders, investors, and industry stakeholders as they navigate the shifting mortgage landscape.

MCT’s Lock Volume Indices present a snapshot of rate lock volume activity in the residential mortgage industry broken out by lock type (purchase, rate/term refinance, and cash out refinance) across a broad diversity of lenders (e.g., sizes, products/services offered, business models) from MCT’s national footprint.

Report: https://mct-trading.com/press-release/mct-reports-16-decrease-in-mortgage-lock-volume-amid-market-dynamics/

About MCT:

For over two decades, MCT has been a leading source of innovation for the mortgage secondary market. Melding deep subject matter expertise with a passion for emerging technologies and clients, MCT is the de facto leader in innovative mortgage capital markets technology. From architecting modern best execution loan sales to launching the most successful and advanced marketplace for mortgage-related assets, lenders, investors, and network partners all benefit from MCT’s stewardship. MCT’s technology and know-how continue to revolutionize how mortgage assets are priced, locked, hedged, traded, and valued – offering clients the tools to perform under any market condition.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

MEDIA CONTACT:
Ian Miller
Chief Marketing Officer
Mortgage Capital Trading
619-618-7855
pr@mctrade.net

MULTIMEDIA:

IMAGE LINK for media: https://mct-trading.com/wp-content/uploads/2025/01/mct-lock-volume-indices-39.png

Image caption: Lock Volume for December by Transaction Type.

NEWS SOURCE: Mortgage Capital Trading Inc.

This press release was issued on behalf of the news source (Mortgage Capital Trading Inc.), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/mct-reports-16-decrease-in-mortgage-lock-volume-amid-market-dynamics/

December Mortgage Lock Data Reveals Year-Over-Year Increases Across All Loan Types Despite Seasonal Downturn

Optimal Blue's December 2024 Market Advantage report highlights annual mortgage production gains and record low conforming loan share

PLANO, Texas, Jan. 14, 2025 (SEND2PRESS NEWSWIRE) — Optimal Blue today released its December 2024 Market Advantage mortgage data report, showcasing year-over-year (YoY) growth in mortgage activity, even as seasonal trends led to a month-over-month (MoM) decline in rate lock volumes. Overall, December mortgage lock volume was up 26% YoY, driven by an 18% increase in purchase locks, a 43% rise in cash-out refinances, and an 82% jump in rate-and-term refinances.

Image caption: Optimal Blue December 2024 Market Advantage report.

“December’s data illustrates how the market can adapt to shifting conditions,” said Brennan O’Connell, director of data solutions at Optimal Blue. “While a seasonal dip was expected, the year-over-year growth reflects resilience and an increasing demand for refinance opportunities driven by rate adjustments. Notably, conforming loan share has hovered around historic lows for the past five months, hitting 51% last month. This trend illustrates how borrowers are relying increasingly on government and non-conforming loans to finance in a challenging market.”

Key findings from the Market Advantage report, derived from direct-source mortgage lock data, include:

Rates fluctuate, ending December higher: After initial declines, rates rose throughout the month. The Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate ended December at 6.83%, up 16 bps from the end of November. FHA and VA rates followed suit, rising 14 bps and 18 bps, respectively. Jumbo rates fell slightly, ending just below 7%.
Refinance activity spikes: The share of refinance locks climbed to 24%, the highest since September. Rate-and-term refinances surged 33% MoM, while cash-out refinances saw a 3% decline. Purchase volumes dropped 13% MoM, in line with seasonal norms, while cash-out refinances decreased 3%.
Production mix shifts continue: The conforming loan share dropped another 1.5% MoM to 51%, the lowest figure since Optimal Blue began reporting lock data in January 2018, marking continued movement away from GSE-eligible products. FHA, VA, and non-conforming loans gained ground, with FHA locks rising to 21%, VA at nearly 11.5%, and non-conforming loans at 16%.
Purchase credit quality hits seven-year high: Average homebuyer credit scores were higher each month in 2024 than the previous 72 months.
MoM credit trends are stable: Average credit scores for purchase and rate-and-term refinance locks fell by 2 points to 737 and 727, respectively. Cash-out refinance scores rose slightly, increasing by 2 points to 697.
Loan amounts plateau as home prices decline: The average loan amount rose by $500 to $376.9K, while average home purchase prices dropped $4.1K to $473.7K.

The full Market Advantage report, which provides more detailed findings and additional insights into U.S. mortgage market trends, can be viewed at: https://www2.optimalblue.com/wp-content/uploads/2025/01/OB_MarketAdvantage_MortgageDataReport_Dec2024.pdf

This month’s Market Advantage podcast features Shant Banosian, executive vice president of sales at Rate, as a guest commentator. Access the podcast: https://market-advantage.captivate.fm/listen.

About the Market Advantage Report

Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE – the mortgage industry’s most widely used product, pricing, and eligibility engine – the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders’ pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry’s only end-to-end capital markets platform. The company helps lenders of all sizes and scopes maximize profitability and operate efficiently so they can help American borrowers achieve the dream of homeownership. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that, in any market environment, allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between. To learn more, visit https://OptimalBlue.com/.

NEWS SOURCE: Optimal Blue

This press release was issued on behalf of the news source (Optimal Blue), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/december-mortgage-lock-data-reveals-year-over-year-increases-across-all-loan-types-despite-seasonal-downturn/

Publishers Newswire announces BOOKS TO BOOKMARK List for Q4 2024: 15 Great Reads to Check Out

Some great new books worth a look you've probably never heard of

TEMECULA, Calif., Dec. 23, 2024 (SEND2PRESS NEWSWIRE) — Publishers Newswire (PNW), an online news publisher covering books, music, indie film, and software launched in 2004, has announced its latest quarterly “books to bookmark” list for Q4 (Oct.-Dec.) 2024, noting 15 new and interesting “good reads” from small publishers released in 2024. These new books are often overlooked due to not coming from major traditional book publishing houses.

Image caption: Books to Bookmark for Q4 2024.

“The diversity of new books for children, self-help, and romantic fiction really exploded again in 2024,” says PNW editor and publisher, Christopher Laird Simmons, who has worked in the publishing world since the late ‘70s, and is also CEO of the website’s parent company, NEOTROPE. “While the threat of A.I. based publishing spam threatens the future of books as we know them, the creativity of real authors, life experiences and first-hand imagination is unlikely to be quashed anytime soon by such technology.”

BOOKS WORTH A LOOK FOR Q4 2024:

(alphabetical order by book title)

:: BE THE CHANGE FOR YOUR DOG: LIFE LESSONS FROM DOGS TO INSPIRE RATHER THAN CONTROL

Personal coach, animal communicator, and dog trainer Arianne De Rond’s new book, “Be the Change for Your Dog: Life Lessons from Dogs to Inspire Rather than Control” (ISBN: 978-0228855408), is a thought-provoking guide offers readers a journey of self-discovery and personal growth, led by the wisdom of their closest companions – their dogs. “Be the Change for Your Dog” encourages readers to look beyond conventional dog training and delve into the lessons that dogs can teach about life, love, and inner peace. With warmth and insight.

:: CHASING SHADOWS

Lauren Gouin’s debut poetry collection, “Chasing Shadows” (ISBN: 978-1998190546), draws from her own heartache, is inspired by the introspective style of contemporary poets like Rupi Kaur, and crafts a narrative that resonates with anyone who has ever questioned their path in life. “Chasing Shadows” presents the story of a woman navigating life on autopilot. When the stability she once knew is shattered by an unclear diagnosis and the COVID-19 pandemic, she is forced to embark on an inward journey, exploring the uncharted territories of her mind and heart.

:: CITY SWIMMERS & OTHER STORIES

Acclaimed poet, painter and filmmaker Steve Clark’s new book “City Swimmers & Other Stories” (ISBN: 979-8990416710; paperback), is a collection of 10 short stories exploring the complexities of human relationships and the search for meaning in modern life. “’City Swimmers’ is a slyly funny, very finely detailed and well-formed collection – each story standing on it is own while still being a believable sibling to the others.

:: CURVEBALLS: UNLOCKING YOUR POTENTIAL THROUGH PERSONAL GROWTH AND INSPIRATIONAL MUSIC

Canadian songwriter, keynote speaker, entrepreneur, and author Gail Taylor’s new book “Curveballs: Unlocking Your Potential Through Personal Growth and Inspirational Music” (ISBN: 978-1779622013) offers readers a blueprint for embracing authenticity, and living with purpose. This unique personal-growth book combines life-changing strategies with music, creating an interactive experience that encourages readers to embrace their authentic selves and unlock their full potential.

:: FOR THE LOVE OF MY SISTER

In Lynn Gallant Blackburn’s powerful new book, “For the Love of My Sister” (ISBN: 978-1779620699), the author seeks to honor the memory of her sister Paula Gallant, who was tragically murdered through domestic violence in 2005. Through her writing, Lynn channels a message of hope and perseverance while advocating for legislative changes to support victims of intimate partner violence.

:: I’LL CALL YOU MINE

Romance and suspense novelist Sharon L. Clark ushers in a new series, “I’ll Call You Mine” (ISBN: 979-8886533033), the first in Clark’s Enderlin Calling series. When Katie Parker flees San Francisco for her small Midwestern hometown, she expects to leave behind an obsessed admirer. Being back in her family home gives her a sense of safety, her new job gives her purpose…and her coworker Ben Collins lights a spark she’s been missing for far too long.

:: MUTUALITY – THE FUTURE OF TRUST: THE EXECUTIVE’S HANDBOOK, ENABLING MUTUALITY TO COGNITIVELY TRANSFORM ORGANISATIONS

A mew book by Matthew Byrne and Denis Jenkins, “Mutuality – the Future of Trust: The Executive’s Handbook, Enabling Mutuality to Cognitively Transform Organisations” (ISBN: 978-1068933387), offers a cutting-edge approach to transforming organisational systems through the power of relational trust. “Mutuality” is more than just a guide. It’s a strategic tool for leaders eager to build trust-based cultures and tackle today’s challenges.

:: OUR GLOBAL CRISIS

Brian D. McLean, a passionate conservationist and environmentalist, cites an urgent and insightful exploration of the environmental challenges facing humanity today in his new book, “Our Global Crisis” (ISBN: 978-0993607226). “Our Global Crisis” takes readers on a journey through the environmental and societal patterns that have led to the downfall of great civilizations. It explores how climate change, rampant consumerism, and humanity’s ongoing exploitation of the planet are pushing us closer to a tipping point.

:: PAIN REMIXED: NAVIGATING LIFE WITH TRAUMA, GRIEF, DEPRESSION AND ANXIETY

Joe Lyons-Rising’s “Pain Remixed: Navigating Life with Trauma, Grief, Depression and Anxiety” (ISBN: 978-1779622167) is a deeply personal and inspiring account of his journey through trauma, grief, and mental health struggles. Through heartfelt storytelling and practical advice, Lyons-Rising offers readers not just hope but actionable steps to reclaim happiness in the face of adversity.

:: PRESSED: RECRUITMENT BY FORCE

In W Blair Doman’s gripping historical fiction novel, “Pressed: Recruitment by Force” (ISBN: 978-0228815914), theauthor sheds light on the lives disrupted by England’s practice of impressment – the forced recruitment of men and boys for naval service – during the 1700s and 1800s. This novel offers a poignant look at the human cost of war and the plight of those who endured it unwillingly.

:: READING, WRITING, ARITHMETIC & RECYCLING VOLUME 1

Author Barry Brenner’s debut children’s picture story book, “Reading, Writing, Arithmetic & Recycling, Vol. 1” (ISBN: 979-8218168292) focuses on a mission to teach the “4th R” for a sustainable future. Available in both English and Spanish, the book engages young readers ages 4-8 through the adventures of two superheroes as they meet the challenges of recycling in their school and community. With a vision for a cleaner and more sustainable world, the book is designed to teach children the importance of recycling, a skill that’s crucial to their future.

:: SAFETY DOG DIEGO GETS ADOPTED

Angel and Tracey Jimenez’s new children’s book “Safety Dog Diego Gets Adopted” (ISBN: 979-8341058088), introduces the heartwarming tale of a lively French Bulldog puppy, Diego, who is adopted and becomes an important safety figure, teaching kids practical tips on staying safe in their everyday lives. Based on the real-life adventures of their own beloved French Bulldog, Angel and Tracey have turned Diego’s story into an educational and fun children’s series. The first book recounts Diego’s adoption and his journey to becoming a “Safety Dog,” sharing valuable safety lessons in a way that is both engaging and fun for young readers.

:: SMELLING DAISIES

A thrilling new time-travel romance that puts the fate of its characters into your hands, is “Smelling Daisies” (ISBN: 978-1779418647), co-written by Elysia and Mark Stevens. Their historical romance debut follows Daisy, a smart-mouthed Canadian soldier, who takes a much-needed trip after serving overseas – only to find herself transported back in time to a war-weary Scotland besieged by the vicious English army. Daisy’s fate is in the reader’s hands, who can visit the author’s website to vote on the events of the series’s next book.

:: SPIRIENCE: EXPERIENCING PEACE AND PROSPERITY THROUGH SPIRITUALITY AND SCIENCE

A new book, co-authored by a trio of distinguished experts, explores how the fusion of ancient wisdom and modern scientific advancements can offer readers a roadmap for achieving peace and prosperity in their lives and the world. “Spirience: Experiencing Peace and Prosperity through Spirituality and Science” (ISBN: 978-1779621238) readers embark on an enlightening journey that bridges the teachings of ancient India with the latest developments in modern science. The lead author, Mahamahopadhyay Bhadreshdas Swami, conceived the creative title, which is a blend of two words: spirituality and science.

:: THE RED HORSE OF THE APOCALYPSE: THE SPIRIT OF VIOLENCE, REVENGE, AND CONQUEST

In Simon Chop’s new book, “The Red Horse of the Apocalypse: The Spirit of Violence, Revenge, and Conquest” (ISBN: 978-0228846253), the author uncovers the tragic and violent power struggles that have plagued South Sudan, offering an eye-opening exploration of the world’s youngest nation. Through a compelling narrative, Chop examines how the forces of violence, tribalism, and revenge have shaped South Sudan’s history, from its long fight for independence to the catastrophic civil war that followed.

LEARN MORE:

To learn more about these and other great reads you’ve never heard about, visit:

https://publishersnewswire.com/pnw/book-news/

ABOUT PUBLISHERS NEWSWIRE:

Publishers Newswire™ is an online publication founded in 2004, part of the Neotrope News Network, covering books and publishing, music and software news. Publishers Newswire does not endorse, “recommend,” or review any of the book titles mentioned, and the specific books mentioned are for informational purpose only. No fee or other consideration was paid for inclusion in this list.

ABOUT NEOTROPE:

Neotrope® has been in the publishing business since the late 1970s, when then teenage founder Christopher Simmons published first “The Comic Collectors Comic Checklist” sold at the San Diego Comic-Con. The company went on to publish “The Galaxy of Fandom” a two-issue entertainment magazine, and later “The Adama Journal” a fanzine for “Battlestar Galactica.” In 1982, “The Unicorn Hunters Guidebook” was featured in Playboy magazine. In 1987, a fanzine for “Star Trek: The Next Generation” called “Galaxy Class” launched. In 2008, the company published “FRACTOPIA” a coffee table art book by Simmons (ISBN: 978-0971055506; Neotrope Press).

The company publishing unit was originally called Silver Unicorn Graphics (S.U. Graphics and Marketing), became Mindset Press in 1987 and Neotrope Press in 1997. The Neotrope News Network was launched in 2004.

The company is also a leader in online advertising and marketing, public relations, music/video and multimedia. Neotrope is based in the Southern California wine country of Temecula. Neotrope® is a registered trademark in the U.S. and Europe. The company celebrated its 40th anniversary Jan. 2023.

Christopher Simmons has been a working journalist since 1984 when he sold his first article to POLYPHONY magazine. Later writing for diverse pubs including Computer Player, Digital Imaging, Micro Publishing News, Spazz, the Graphic Artist’s Guild newspaper, among many others. He has been widely interviewed on topics related to technology, marketing, health and entertainment.

Learn more about Neotrope at: https://neotrope.com/ (website under reconstruction).

NOTE: NEOTROPE does not publish any of the books mentioned in this press release nor represent any author or publisher in an agency capacity. For questions about any of the books mentioned contact the author or publisher directly and not this website.

NEWS SOURCE: Publishers Newswire

This press release was issued on behalf of the news source (Publishers Newswire), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/publishers-newswire-announces-books-to-bookmark-list-for-q4-2024-15-great-reads-to-check-out/

MCT Reports a 15% Decrease in Mortgage Lock Volume Amid Higher Rates

SAN DIEGO, Calif., Dec. 11, 2024 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, has announced a 15.12% decrease in mortgage lock volume compared to the previous month. The data, reflecting current market dynamics, is available in MCT’s latest report, which offers in-depth analysis and insights for industry professionals and stakeholders.

Image caption: Image Caption: Lock Volume for November by Transaction Type.

While the market exhibited relative stability post-election, a clear downtrend in refinance activity was observed as interest rates settled. Heading into the winter months and with a new presidential administration taking office in January, volatility concerns remain a focal point for the industry. Current expectations suggest that mortgage volume will stay low through the early months of the year.

Andrew Rhodes, Senior Director and Head of Trading at MCT, commented on the outlook: “Most lenders have already priced in at least one rate cut in either December or January. Barring unforeseen events, mortgage rates are predicted to remain relatively steady through the winter months.”

Industry forecasts indicate that rates are likely to hold or increase slightly, further dampening refinance activity. With the evolving market landscape, industry professionals are encouraged to stay informed of potential shifts in the coming months.

For further insights into the current mortgage market and the latest trends in lock volume, MCT invites industry professionals to download the full report.

About MCT:

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Download report at: https://mct-trading.com/press-release/mct-reports-15-decrease-in-mortgage-lock-volume-amid-higher-rates/

MEDIA CONTACT:
Ian Miller
Chief Marketing Officer
Mortgage Capital Trading
619-618-7855
pr@mctrade.net

IMAGE link for media: https://www.Send2Press.com/300dpi/24-1211-s2p-mct-lock-volume-300dpi.jpg

Image Caption: Lock Volume for November by Transaction Type

NEWS SOURCE: Mortgage Capital Trading Inc.

To view the original story, visit: https://www.send2press.com/wire/mct-reports-a-15-decrease-in-mortgage-lock-volume-amid-higher-rates/

Mortgage Lock Activity Fell in November as Interest Rates Hit Their Highest Levels Since July

Optimal Blue's November 2024 Market Advantage mortgage data report finds overall rate lock volume down 25% month over month, yet 12% higher year over year, providing some reason for optimism

PLANO, Texas, Dec. 10, 2024 (SEND2PRESS NEWSWIRE) — Optimal Blue today released its November 2024 Market Advantage mortgage data report, highlighting a 25% decrease in month-over-month (MoM) lock volume as interest rates hit their highest levels since early July, creating headwinds for affordability.

Image caption: Optimal Blue November 2024 Market Advantage mortgage data report.

Purchase lock volume was down 21% MoM, while cash-out and rate-and-term refinance volumes fell 20% and 50%, respectively. However, year-over-year (YoY) metrics show resilience in the market, with total rate lock volume up 12% from November 2023, purchase volume up a modest 5%, and cash-out and rate-and-term refinances increasing 35% and 95%, respectively, sparking optimism among market watchers.

While high rates prevailed for much of the month, they dropped slightly in the week leading up to the Thanksgiving holiday. The OBMMI 30-year conforming fixed rate index, the benchmark that will be used as the underlying price for CME Group’s new Mortgage Rate futures, finished the month down 11 bps from October. FHA and VA 30-year rates fell as well, closing the month down 7 bps and 20 bps, respectively. The 30-year jumbo rate showed a slight increase to close the month, up 16 bps from the end of October.

Product mix changes mirrored the month’s affordability concerns. FHA loans, which offer as little as 3.5% down and more lenient credit requirements, gained share at the expense of all other loan types, notching up another three-quarters of a point to account for 20% of total production. That puts FHA market share back near its peak of just over 22% of total production in November 2023. VA loan volume fell in November, but is up YoY at 11% of total volume. Government production in total accounted for nearly one-third of loan volume in November.

“The rising percentage of FHA loans indicates affordability continues to be a concern among homebuyers as we move into year-end,” said Brennan O’Connell, director of data solutions at Optimal Blue. “In spite of the recent dip in purchase and refinance activity, we see the YoY improvements in purchase volume, cash-out and rate-and-term refinances as a bright spot.”

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data, include:

Rates dip slightly for conforming and government-backed loans: The OBMMI 30-year conforming averaged 30 bps higher in November, though it ended the month at 6.68%, an 11-bps decrease from October. FHA rates dropped by 7 bps to 6.36%, while VA rates dropped 20 bps to 6.16%. The OBMMI jumbo index rate rose a more moderate 16 bps, ending the month at 6.98%.
Purchase lock volume softens: Purchase lock volume was down 21% MoM. Also significant, purchase lock counts – which are a key measure for market health that excludes the impact of HPA and volatile refi activity – were down 3% YoY, breaking a two-month trend of positive YoY momentum.
Conforming loan share continues to fall: Conforming share ended the month below 53%, roughly 20% lower than the peak levels seen in 2020. Non-conforming lending – including both non-QM and jumbo – fell slightly in November. Nevertheless, non-conforming loans remained near their recent market share high at just under 15% – a nearly five-percentage-point increase in market share over the same period last year.
Refinance demand softens: Cash-out and rate-and-term refinance volumes fell 20% and 50%, respectively. However, YoY metrics provide reason for optimism with cash-out and rate-and-term refinances gaining 35% and 95% YoY, respectively.
Credit quality holds steady: Average credit scores for purchase loans were flat at 739, while average scores on refinance locks dropped slightly. Cash-out average credit fell 2 points to 695, and rate-and-term average credit dropped 1 point to 730.
Home prices and average loan amounts dip: In November, the average loan amount dropped from $380.1K to $376.4K. Average home purchase prices ticked down as well, falling from $482.4K to $477.4K.

The full November 2024 Market Advantage report, which provides more detailed findings and additional insights into U.S. mortgage market trends, can be viewed at: https://www2.optimalblue.com/wp-content/uploads/2024/12/OB_MarketAdvantage_MortgageDataReport_Nov2024.pdf.

This month’s Market Advantage podcast features Agha Mirza, CME Group managing director and global head of rates and OTC products, a guest commentator. The podcast can be accessed at: https://market-advantage.captivate.fm/listen.

About the Market Advantage Report:

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue:

MULTIMEDIA:

Image link for media: https://www.Send2Press.com/300dpi/24-1210-s2p-opbluenovreport-300dpi.jpg

NEWS SOURCE: Optimal Blue

To view the original story, visit: https://www.send2press.com/wire/mortgage-lock-activity-fell-in-november-as-interest-rates-hit-their-highest-levels-since-july/

Industrial Manufacturing Reports Accelerated Growth for the Third Month with 151 New Projects Announced for November 2024

JACKSONVILLE BEACH, Fla., Dec. 5, 2024 (SEND2PRESS NEWSWIRE) — Industrial SalesLeads released its November 2024 report on planned capital project spending in the Industrial Manufacturing industry, highlighting a significant uptick in activity. The firm, which monitors North American industrial capital project plans, including facility expansions, new plant construction, and major equipment modernizations, identified 151 new projects for the month. This marks an increase from the 136 projects reported in October, indicating a steady growth trajectory in the sector’s development and investment activity.

Image caption: Industrial SalesLeads November 2024 Report.

Here are key highlights of the latest construction developments in the Industrial Manufacturing industry.

INDUSTRIAL MANUFACTURING – BY PROJECT TYPE

Manufacturing/Production Facilities – 124 New Projects

Distribution and Industrial Warehouse – 62 New Projects

INDUSTRIAL MANUFACTURING – BY PROJECT SCOPE/ACTIVITY

New Construction – 45 New Projects

Expansion – 42 New Projects

Renovations/Equipment Upgrades – 74 New Projects

Plant Closings – 16 New Projects

INDUSTRIAL MANUFACTURING – BY PROJECT LOCATION (TOP 10 STATES)

Ohio – 11

New York – 10

California – 9

North Carolina – 9

Texas – 9

Indiana – 8

South Carolina – 8

Virginia – 8

Tennessee – 7

Illinois – 6

LARGEST PLANNED PROJECT

In November, our research team identified 17 new Industrial Manufacturing facility construction projects, each valued at $100 million or more.

The largest project is owned by Citroniq Chemicals, who is planning to invest $7.5 billion for the construction of a processing facility in FALLS CITY, NE. They are currently seeking approval for the project. Completion is slated for 2029.

TOP 10 TRACKED INDUSTRIAL MANUFACTURING PROJECTS

MICHIGAN:

Steel producer is planning to invest $470 million for the renovation and equipment upgrades on their manufacturing facility in DEARBORN, MI. They are currently seeking approval for the project. They are also considering investing $2 billion to repurpose the same plant in DEARBORN, MI.

KENTUCKY:

Battery storage mfr. is planning to invest $712 million for the renovation and equipment upgrades on a 1-million sf manufacturing facility at 139 Logistics Dr. in SHELBYVILLE, KY. They have recently received approval for the project. Completion is slated for late 2025.

GEORGIA:

Paper towel and tissue mfr. is planning to invest $600 million for the expansion and equipment upgrades on their manufacturing facility in MACON, GA. They are currently seeking approval for the project.

OHIO:

Recycled paper products mfr. is planning to invest $600 million for the construction of a manufacturing and warehouse facility on Olive Rd. in DAYTON, OH. They are currently seeking approval for the project.

ARKANSAS:

Wood products mfr. is planning to invest $500 million for the construction of a manufacturing facility in MONTICELLO, AR. They are currently seeking approval for the project. Construction is expected to start in 2025, with completion slated for 2027.

CALIFORNIA:

Cement mfr. is planning to invest $500 million for the expansion, renovation, and equipment upgrades on their processing facility in LEBEC, CA. They are currently seeking approval for the project.

MICHIGAN:

NEW YORK:

Specialty glass mfr. is planning to invest $347 million for an expansion of their manufacturing facility at 334 Co Rd 16 in CANTON, NY. They are currently seeking approval for the project.

NORTH CAROLINA:

Semiconductor component mfr. is planning to invest $305 million for the expansion of their manufacturing facility in GREENSBORO, NC. They are currently seeking approval for the project

TENNESSEE:

HVAC equipment mfr. is planning to invest $238 million for the renovation and equipment upgrades on a 787,000 sf manufacturing facility at 5106 Tradeport Dr. in MEMPHIS, TN. They are currently seeking approval for the project.

About Industrial SalesLeads, Inc.

Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at salesleadsinc.com.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

Industrial Manufacturing
Plastics
Food and Beverage
Metals
Power Generation
Pulp Paper and Wood
Oil and Gas
Mining and Aggregates
Chemical
Research and Development
Distribution and Supply Chain
Pipelines
Pharmaceutical
Industrial Buildings
Waste Water Treatment
Data Centers

Learn more: https://www.salesleadsinc.com/industry/industrial-manufacturing/

NEWS SOURCE: Industrial SalesLeads Inc

This press release was issued on behalf of the news source (Industrial SalesLeads Inc), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/industrial-manufacturing-reports-accelerated-growth-for-the-third-month-with-151-new-projects-announced-for-november-2024/

ACES Q2 2024 Mortgage QC Trends Report Reveals Second Consecutive Increase in Critical Defect Rate

Persistent issues in Income/Employment defects and significant defect growth across all major underwriting categories push defect rate closer to 2% threshold

DENVER, Colo., Nov. 20, 2024 (SEND2PRESS NEWSWIRE) — ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the second quarter (Q2) of 2024. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software. ACES has altered the timing of this report to better reflect Fannie Mae’s accelerated timeline for post-closing quality control reviews.

Image caption: ACES Quality Management.

Notable findings from the Q2 2024 report include the following:

The overall critical defect rate increased 14.56% to 1.81%, marking the second consecutive quarter of growth.
Income/Employment remains the leading category of defects at 37.01%, followed by Assets at 14.29% and Credit at 9.79%.
Defects increased in all four major underwriting categories, with Income/Employment defects rising the most quarter-over-quarter.
Appraisal defects saw the most significant quarter-over-quarter growth across all categories, increasing by 98.33%.
Insurance defects reversed course from Q1 2024, declining 91.99%.
Lenders continued to prioritize purchase reviews over refinances, with defect share rising 2.71% for purchase transactions and declining 11.66% for refinances.
Conventional and FHA review shares declined slightly this quarter. While VA review share increased somewhat, lenders significantly increased their reviews of USDA loans in Q2.
FHA and VA loan performance improved tremendously over Q1, declining 35.26% and 56.57%, respectively. Conventional defect share increased by 13.59%, but the largest area of concern this quarter is USDA loan defects, which increased by 370.9%.

“This quarter’s rise in critical defects signals that lenders need to double down on quality control efforts, especially as volumes grow,” warned Nick Volpe, EVP of ACES Quality Management. “While the industry’s resilience is evident, the increased scrutiny of income and other key underwriting areas reminds us of the complexities in today’s lending landscape. Proactive adoption of digital tools is key to maintaining high standards and navigating an environment where even minor lapses can impact long-term performance.”

Findings for the Q2 ACES Mortgage QC Industry Trends Report are based on post-closing quality control data derived from the ACES Quality Management and Control® benchmarking system and incorporate data from prior quarters and/or calendar years, where applicable. All reviews and defect data evaluated for the report were based on loan audits selected by lenders for full file reviews.

The Mortgage QC Industry Trends Reports are available for download, free of charge, at https://www.acesquality.com/resources/reports.

About ACES Quality Management

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation’s most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

Over 70% of the top 20 independent mortgage lenders;
7 of the top 10 loan servicers;
11 of the top 30 banks; and
3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit https://www.acesquality.com/ or call 1-800-858-1598.

NEWS SOURCE: ACES Quality Management

This press release was issued on behalf of the news source (ACES Quality Management), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/aces-q2-2024-mortgage-qc-trends-report-reveals-second-consecutive-increase-in-critical-defect-rate/

October 2024 Industrial Reports Shows Steady Flow of New Manufacturing Facility Construction Projects with 170 New Projects in North America

JACKSONVILLE BEACH, Fla., Nov. 19, 2024 (SEND2PRESS NEWSWIRE) — Industrial SalesLeads has released its October 2024 report on planned capital project spending in the North American industrial sector, identifying 170 new projects, including new plant constructions. The report shows a minor 1% dip in industrial project activity from September and a 6% year-to-date decline compared to 2023. Compiled by Industrial SalesLeads’ experienced research team, the data underscores current investment trends and changes in the industrial landscape.

Image caption: October 2024 Industrial Reports.

The following are selected highlights on new Industrial plant construction news.

INDUSTRIAL MANUFACTURING – BY PROJECT TYPE

Manufacturing/Production Facilities – 42 New Projects

Distribution and Industrial Warehouse – 83 New Projects

Processing Facilities – 50 New Projects

Laboratory Facilities – 5 New Projects

INDUSTRIAL – BY PROJECT LOCATION (TOP 10 STATES)

California – 12

Pennsylvania – 11

Texas – 11

Illinois – 9

Indiana – 8

Michigan – 8

New York – 8

Florida – 7

Alabama – 6

Georgia – 6

LARGEST PLANNED PROJECT

During the month of October 2024, our research team identified 24 new Industrial Plant construction projects with an estimated value of $100 million or more.

One of the largest projects is owned by Johnson and Johnson, a pharmaceutical company. The company is planning to invest $2B for the construction of a processing camps in Wilson, NC. The company is expected to start in Spring 2025.

TOP 10 TRACKED NEW INDUSTRIAL PROJECTS

KANSAS:

Electric utility service provider is planning to invest $2 billion for the construction of two natural gas combined cycle-fired power plants in CONWAY SPRINGS, KS and YODER, KS. They are currently seeking approval for the projects. Completion is slated for 2029 and 2030 respectively.

NORTH CAROLINA:

Pharmaceutical company is planning to invest $2 billion for the construction of a processing campus in WILSON, NC. Construction is expected to start in Spring 2025.

ONTARIO:

Mining company is planning to invest $1.3 billion for the construction of a lithium recycling facility in THUNDER BAY, ON. Construction is expected to start in 2027, with completion slated for 2028.

NEVADA:

Battery mfr. is planning to invest $1 billion for the construction of a 1.2 million sf manufacturing facility in RENO, NV. They are currently seeking approval for the project. Construction is expected to start in 2025.

PENNSYLVANIA:

Pharmaceutical company is planning to invest $800 million for the construction of 2 processing facilities on their campus in MARIETTA, PA. They are currently seeking approval for the project. Construction is expected to start in late 2024, with completion slated for late 2028.

INDIANA:

Food and industrial ingredients mfr. is planning to invest $400 million for the construction of a processing facility in LAFAYETTE, IN. They are currently seeking approval for the project.

MICHIGAN:

Semiconductor mfr. is planning to invest $325 million for the construction of a manufacturing facility on their manufacturing campus in HEMLOCK, MI. They are currently seeking approval for the project.

FLORIDA:

Commercial airline is planning to invest $300 million for the construction of a 354,000 sf warehouse, maintenance, and office complex in ORLANDO, FL. The project includes the renovation of their existing hangar at the site. They will consolidate their regional operations upon completion.

MASSACHUSETTS:

Municipality is planning to invest $248 million for the construction of a wastewater treatment plant on Theophilus F. Smith Rd. in DENNIS, MA. They are currently seeking approval for the project. Construction will occur in multiple phases.

NEW JERSEY:

Fruit juice mfr. is planning to invest $200 million for the construction of a 200,000 sf processing facility in SEABROOK, NJ. Construction is expected to start in early 2025. They will relocate their operations in phases starting in early 2026, with completion slated for early 2027.

About Industrial SalesLeads, Inc.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

Industrial Manufacturing
Plastics
Food and Beverage
Metals
Power Generation
Pulp Paper and Wood
Oil and Gas
Mining and Aggregates
Chemical
Research and Development
Distribution and Supply Chain
Pipelines
Pharmaceutical
Industrial Buildings
Waste Water Treatment
Data Centers

Learn more: https://www.salesleadsinc.com/solutions/industrial-project-reports/

NEWS SOURCE: Industrial SalesLeads Inc

To view the original story, visit: https://www.send2press.com/wire/october-2024-industrial-reports-shows-steady-flow-of-new-manufacturing-facility-construction-projects-with-170-new-projects-in-north-america/

MCT Announces 2.5% Increase in Mortgage Lock Volume Despite October Market Volatility

SAN DIEGO, Calif., Nov. 15, 2024 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, reported a 2.5% increase in mortgage lock volume compared to the previous month. Mortgage market professionals and industry enthusiasts are invited to download MCT’s comprehensive report to gain deeper insights into the current market dynamics.

Image caption: MCT Mortgage Lock Volume Indices Oct 2024.

October proved to be a dynamic month for the mortgage market. An increase in mortgage rates, spurred by election volatility, led to a reversal of the refinancing uptick observed in September. However, a rise in purchase volume during the month managed to counterbalance the decline in refinancing, resulting in overall month-over-month lock volume remaining relatively flat.

The uncertainty surrounding the elections caused temporary market disruptions and a downturn in markets, which has now eased following the decisive election results. This change has brought a level of stability and clarity to the market.

Andrew Rhodes, Senior Director and Head of Trading at MCT, stated, “With the election and last Thursday’s Federal Reserve meeting behind us, we anticipate markets will stabilize with the new focus on November jobs and CPI data points.”

For further insights into the current mortgage market and the latest trends in lock volume, MCT invites industry professionals to download the full report.

About MCT:

For over two decades, MCT has been a leading source of innovation for the mortgage secondary market. Melding deep subject matter expertise with a passion for emerging technologies and clients, MCT is the de facto leader in innovative mortgage capital markets technology. From architecting modern best execution loan sales to launching the most successful and advanced marketplace for mortgage-related assets, lenders, investors, and network partners all benefit from MCT’s stewardship. MCT’s technology and know-how continues to revolutionize how mortgage assets are priced, locked, protected, valued, and exchanged – offering clients the tools to perform under any market condition.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

NEWS SOURCE: Mortgage Capital Trading Inc.

To view the original story, visit: https://www.send2press.com/wire/mct-announces-2-5-increase-in-mortgage-lock-volume-despite-october-market-volatility/

North American Food & Beverage Industry Sees Strong Capital Investment with 51 New Projects in October 2024.

JACKSONVILLE BEACH, Fla., Nov. 12, 2024 (SEND2PRESS NEWSWIRE) — Industrial SalesLeads has released its October 2024 report detailing planned capital project spending in North America’s Food and Beverage industry. Known for its in-depth tracking of industrial capital projects, Industrial SalesLeads monitors a wide range of developments, including facility expansions, new plant constructions, and major equipment modernization efforts across various sectors.

Image caption: Industrial SalesLeads: Food and Beverage Monthly Report Oct 2024.

This month’s report highlights 51 newly identified projects within the Food and Beverage sector, reflecting ongoing investment and growth in the industry despite a slight dip from the previous month. These projects underscore the industry’s commitment to expanding capacity, modernizing technology, and enhancing production capabilities to meet evolving market demands.

The following are selected highlights on new Food and Beverage industry construction news.

Food and Beverage Project Type

Processing Facilities – 42 New Projects

Distribution and Industrial Warehouse – 16 New Projects

Food and Beverage Project Scope/Activity

New Construction – 19 New Projects

Expansion – 11 New Projects

Renovations/Equipment Upgrades – 24 New Projects

Plant Closing – 4 New Projects

Food and Beverage Project Location (Top 10 States)

California – 5

New York – 5

Ohio – 4

Indiana – 3

Florida – 2

Georgia – 2

Iowa – 2

Illinois – 2

New Jersey – 2

Virginia – 2

Largest Planned Project

During the month of October, our research team identified 4 new Food and Beverage facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Primient, who is planning to invest $400 million for the construction of a processing facility in LAFAYETTE, IN. They are currently seeking approval for the project.

Top 10 Tracked Food and Beverage Projects

NEW JERSEY:

VIRGINIA:

Dairy products mfr. is planning to invest $59 million for an 81,000 sf expansion and equipment upgrades on their processing and warehouse facility at 318 Mill Pl. Pkwy. in VERONA, VA. They have recently received approval for the project. Completion is slated for Fall 2025.

ILLINOIS:

Food contract manufacturing and packaging company is planning for the renovation and equipment upgrades on a 275,000 sf processing facility at 1885 E State St. in GENEVA, IL. They are currently seeking approval for the project.

PENNSYLVANIA:

Specialty ingredient supplier is planning for the construction of a 260,000 sf warehouse and processing facility in SMITHFIELD, PA. They are currently seeking approval for the project.

IOWA:

Food processing company is planning to invest $45 million for a 24,000 sf expansion, renovations, and equipment upgrades on their processing and warehouse facility at 1300 S. Lake St. in CHEROKEE, IA. They have recently received approval for the project. Completion is slated for early 2026.

CALIFORNIA:

Specialty food product mfr. is planning for a 227,000 sf expansion and equipment upgrades on their processing and warehouse facility at 15800 Laguna Canyon Rd. in IRVINE, CA. They have recently received approval for the project.

FLORIDA:

Food processing is planning for the construction of 5 processing facilities in FLORIDA. Construction is expected to start in late 2024, with completion slated for late Summer 2025.

TEXAS:

Nut processing company is planning to invest $21.5 million for the construction of a 132,000 sf warehouse, processing, and office facility at 661 S. Kenazo Dr. in HORIZON CITY, TX. Completion is slated for Fall 2025.

ILLINOIS:

Specialty food ingredient mfr. is planning for the construction of a 120,000 sf processing, research, and storage facility on Quality Drive in HUNTLEY, IL. They are currently seeking approval for the project.

INDIANA:

Dairy company is planning to invest $5 million for the renovation and equipment upgrades on their processing facility in CRAWFORDSVILLE, IN. They are currently seeking approval for the project.

About Industrial SalesLeads, Inc.

Visit us at https://www.salesleadsinc.com/.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

Industrial Manufacturing
Plastics
Food and Beverage
Metals
Power Generation
Pulp Paper and Wood
Oil and Gas
Mining and Aggregates
Chemical
Research and Development
Distribution and Supply Chain
Pipelines
Pharmaceutical
Industrial Buildings
Waste Water Treatment
Data Centers

NEWS SOURCE: Industrial SalesLeads Inc

To view the original story, visit: https://www.send2press.com/wire/north-american-food-beverage-industry-sees-strong-capital-investment-with-51-new-projects-in-october-2024/

October Mortgage Lock Data Shows Resilience and Cracks in the Mortgage Market as Interest Rates Tick up 65 Basis Points

Optimal Blue's October 2024 Market Advantage mortgage data report shows strong purchase mortgage growth, though a shift away from conforming loans signals strained affordability

PLANO, Texas, Nov. 12, 2024 (SEND2PRESS NEWSWIRE) — Optimal Blue today released its October 2024 Market Advantage mortgage data report, highlighting resilient purchase activity in the face of rising interest rates and affordability challenges. Despite a 65-basis-point (bps) increase in the Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate, purchase lock volume grew by 12% month over month (MoM), signaling strong demand among homebuyers. The report also shows a notable shift away from conforming loans, indicating affordability concerns are pushing buyers toward alternative financing options.

Image caption: Optimal Blue: National Rate Lock Metrics Oct. 2024.

“Despite a tough rate trajectory, we saw strong growth in both purchase lock volume and counts, which are both positive signals for mortgage production,” said Brennan O’Connell, director of data solutions at Optimal Blue. “While purchase growth is encouraging, signs of how buyers are adapting to higher rates indicate continued affordability pressures. Production mix data shows a shift from conforming loans to FHA and non-conforming products, which often offer more flexible financing terms.”

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data, include:

Rates rise across the board: The OBMMI 30-year conforming rate ended October at 6.79%, marking a 65-bps increase from September. FHA rates rose by 54 bps to 6.43%, while VA rates saw the largest increase, climbing 73 bps to 6.36%. The OBMMI jumbo index rate rose a more moderate 41 bps to end at 6.82%.
Purchase lock volume grows despite rate increases: Purchase lock volume rose 12% MoM. Also significant, purchase lock counts – which are a key measure for market health that excludes the impact of HPA and volatile refi activity – rose 9% year over year (YoY), continuing a positive trend that started in September. This increase in purchase locks reflects ongoing demand.
Affordability concerns shift production mix: Conforming loan share fell to its lowest point since tracking began in 2018, now representing 53% of volume. At the same time, FHA locks rose, accounting for one in five purchase transactions, as buyers sought more accessible financing options. Non-conforming loans also gained ground as borrowers leaned more heavily on non-QM and jumbo loans to adapt to affordability challenges.
Refinance demand softens: The rise in rates dampened refinance interest, with rate-and-term refinance volume dropping 45% MoM. Cash-out refinance activity saw a slight 6% increase, but the overall refinance share declined to 23% of total volume. With the exception of August and September 2024, refinance levels were still higher than any other month since April 2022.
Credit quality declines in refinance sector: Average credit scores remained high for purchase loans; however, refinance credit scores, particularly for rate-and-term refinances, saw a drop, with the average score declining by 6 points to 730.
Home prices trend upward while average loan amounts dip: October saw a second consecutive month of home price increases, with the average purchase price rising from $475.8K to $482.4K. Meanwhile, the average loan amount fell by $3.6K to $380.1K.

The full October 2024 Market Advantage report, which provides more detailed findings and additional insights into U.S. mortgage market trends, can be viewed at (PDF): https://www2.optimalblue.com/wp-content/uploads/2024/11/OB_MarketAdvantage_MortgageDataReport_Oct2024.pdf.

This month’s Market Advantage podcast features Dave Savage, chief innovation officer at TrustEngine and founder of Mortgage Coach, as a guest commentator. The podcast can be accessed at: https://market-advantage.captivate.fm/listen.

About the Market Advantage Report

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue

NEWS SOURCE: Optimal Blue

To view the original story, visit: https://www.send2press.com/wire/october-mortgage-lock-data-shows-resilience-and-cracks-in-the-mortgage-market-as-interest-rates-tick-up-65-basis-points/

Strong Start to Q3 with 136 New Industrial Manufacturing Planned Industrial Project

The latest research identified 136 new projects, an increase from 128 in September 2024

JACKSONVILLE BEACH, Fla., Nov. 7, 2024 (SEND2PRESS NEWSWIRE) — Industrial SalesLeads released its October 2024 report on planned capital project spending in the Industrial Manufacturing sector. The firm monitors planned industrial capital projects across North America, including facility expansions, new plant construction, and major equipment modernization initiatives. The latest research identified 136 new projects, an increase from 128 in September.

Image caption: Industrial Manufacturing Monthly Report 2024 October.

The following are selected highlights on new Industrial Manufacturing industry construction news.

Industrial Manufacturing – By Project Type

Manufacturing/Production Facilities – 118 New Projects

Distribution and Industrial Warehouse – 85 New Projects

Industrial Manufacturing – By Project Scope/Activity

New Construction – 47 New Projects

Expansion – 42 New Projects

Renovations/Equipment Upgrades – 56 New Projects

Plant Closings – 12 New Projects

Industrial Manufacturing – By Project Location (Top 10 States)

Pennsylvania – 10

Indiana – 9

North Carolina – 7

Ohio – 7

Ontario – 7

Tennessee – 7

Texas – 7

Illinois – 6

Washington – 6

Arizona – 5

LARGEST PLANNED PROJECT

During the month of October, our research team identified 19 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Eli Lilly and Company, who is planning to invest $4.5 billion for the construction of a processing, laboratory, and research campus in LEBANON, IN. They are currently seeking approval for the project.

TOP 10 TRACKED INDUSTRIAL MANUFACTURING PROJECTS

NORTH CAROLINA:

Pharmaceutical company is planning to invest $2 billion for the construction of a processing campus in WILSON, NC. Construction is expected to start in Spring 2025.

NEVADA:

PENNSYLVANIA:

MICHIGAN:

VIRGINIA:

Pharmaceutical company is planning to invest $200 million for the expansion of their processing facility at 2020 Avon Crt. in CHARLOTTESVILLE, VA. They have recently received approval for the project.

PENNSYLVANIA:

Generator mfr. is planning to invest $175 million for the construction of a 300,000 sf manufacturing facility in FINDLAY TWP., PA. They are currently seeking approval for the project. Construction is expected to start in 2025.

NORTH CAROLINA:

Consumer goods mfr. is planning to invest $146 million for the renovation and equipment upgrades on a processing facility at 4700 Sandoz Dr. in WILSON, NC. They are currently seeking approval for the project.

TEXAS:

Plastic recycling company is planning to invest $145 million for the construction of a processing and warehouse facility in HOOKS, TX. They are currently seeking approval for the project. Construction is expected to start in Summer 2025.

OREGON:

Wood product mfr. is planning to invest $120 million for the renovation and equipment upgrades on its manufacturing facility in SPRINGFIELD, OR. The project includes the construction of 2 manufacturing facilities at the site. Completion is slated for early 2026 and late 2026 respectively.

ALABAMA:

Automotive component mfr. is planning to invest $100 million for the renovation and equipment upgrades on a manufacturing facility in AUBURN, AL. They have recently received approval for the project.

LEARN MORE: https://www.salesleadsinc.com/industry/industrial-manufacturing/

About Industrial SalesLeads, Inc.

Visit us at https://www.salesleadsinc.com/.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

Industrial Manufacturing
Plastics
Food and Beverage
Metals
Power Generation
Pulp Paper and Wood
Oil and Gas
Mining and Aggregates
Chemical
Research and Development
Distribution and Supply Chain
Pipelines
Pharmaceutical
Industrial Buildings
Waste Water Treatment
Data Centers

Learn more: https://www.salesleadsinc.com/solutions/industrial-project-reports/

NEWS SOURCE: Industrial SalesLeads Inc

To view the original story, visit: https://www.send2press.com/wire/strong-start-to-q3-with-136-new-industrial-manufacturing-planned-industrial-project/

Down Payment Resource finds 2,444 down payment assistance programs nationwide in its Q3 2024 data analysis

DPR's Q3 2024 HPI Report finds 29 homebuyer assistance programs were added this quarter

ATLANTA, Ga., Oct. 21, 2024 (SEND2PRESS NEWSWIRE) — Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, today released its Q3 2024 Homeownership Program Index (HPI) report. The Q3 report saw the number of national homebuyer assistance programs increase by 29 to 2,444.

Image caption: Q3 2024 Homeownership Program Index.

Notably, the report showed a 5% increase in programs for first-generation buyers. First-generation homebuyers have been singled out by the Harris Presidential campaign, which along with building 3 million affordable housing units for rent and ownership, proposes to provide $25,000 down-payment assistance to first-time homebuyers who have paid rent on time for two years, with more generous support for qualifying first-generation homeowners.

“We are pleased to see a growing number of these programs, and think they are becoming a targeted way to help first-time and first-generation homebuyers struggling to save for a down payment get into a home they can afford,” said Rob Chrane, founder and CEO of DPR. “Our data show the average DPA benefit is roughly $17,000. That can be a nice jump-start for saving for a down payment and other costs of homeownership.”

KEY HPI REPORT FINDINGS

An examination of the existing 2,444 homebuyer assistance programs on October 1, 2024, resulted in the following key findings:

The number of U.S. homebuyer assistance programs increased by 29 over the past quarter. This represents a 1.2% increase over the previous quarter.
There was an 8% increase in below market rate/resale programs and 7% increase in grant-funded programs, and 6% increase in other homebuyer assistance from Q2 2024. Below market rate or BMR homes are affordable homes sold at a lower price than the market average and are intended for low- to moderate-income buyers. When a BMR homeowner wants to sell, they must sell the home to an income-eligible buyer.
949 municipalities offered DPA programs. Municipalities represented the majority of funding sources in Q3 2024 at 39%, which is virtually unchanged from last quarter. Nonprofits were the second highest funding source, 21% in Q3 2024, followed by state HFAs at 19%. A few of these programs have seen increases from federal program resources, including the American Rescue Plan Act (ARPA) and US Department of Health and Human Services (HHS).
777 programs supported multifamily purchases, up 7% from the previous quarter. Of those, 526 allowed for 3-unit properties, up 7% from Q2 2024, while 501 allowed for four-unit properties, up 8% from Q2 2024.
195 programs offer incentives for special groups. 35% offer special funding for educators, 29% for protectors, 26% for firefighters, 24% for healthcare workers, and 24% for Native Americans, and 22% for military homebuyers.

A more detailed analysis of the Q3 2024 HPI findings, including infographics and examples of the programs described in this release, can be found on DPR’s website at: https://downpaymentresource.com/professional-resource/the-down-payment-resource-q3-2024-homeownership-program-index-report/.

For a complete list of homebuyer assistance programs by state, visit (PDF): https://downpaymentresource.com/wp-content/uploads/2024/10/HPI-state-by-state-data.Q32024.pdf.

Methodology

About Down Payment Resource:

X: @DwnPmtResource #downpaymentassistance #affordabilitycrisis #housingaffordability #mortgage #housingequity #downpayment

NEWS SOURCE: Down Payment Resource

To view the original story, visit: https://www.send2press.com/wire/down-payment-resource-finds-2444-down-payment-assistance-programs-nationwide-in-its-q3-2024-data-analysis/

Landmark Study Reveals $11.7 Billion Economic Impact of Sports in the Los Angeles Region, Revealing Significant Growth Post-Pandemic

Total economic impact of sports increased by $2.8 billion from the previous year, a jump of more than 31%

LOS ANGELES, Calif., Oct. 17, 2024 (SEND2PRESS NEWSWIRE) — The Los Angeles Sports Council, the region’s premier sports trade association, and the Los Angeles County Economic Development Corporation (LAEDC) released the fourth annual economic impact of sports report today, cementing the region’s stature as a hub of sports activity and commerce.

Image caption: The Los Angeles Sports Council and the Los Angeles County Economic Development Corporation (LAEDC) released the fourth annual economic impact of sports report, cementing the Greater Los Angeles region’s stature as a hub of sports activity and commerce with more growth on the horizon.

“Sports in the Los Angeles Basin: 2024 Economic Impact Study” was the centerpiece of a panel at the LA Sports Innovation Conference on Monday that detailed how the region’s sports industry generated $11.7 billion in economic output in 2023, about $2.8 billion higher than the previous year, or a jump of more than 31%.

“L.A. is home to the world’s best professional sports teams, unparalleled venues and committed fans so it’s promising to see this industry continue to create economic impact for our region,” said Los Angeles Mayor Karen Bass. “As we gear up for major sporting events like the FIFA World Cup in 2026 and the 2028 Olympic and Paralympic Games, which will generate billions of dollars in economic impact here in our region, my focus, alongside partners like LAEDC and the LA Sports Council, will be on ensuring that Angelenos and our local businesses benefit from these opportunities for decades to come.”

The report details how both professional and collegiate sports in the Los Angeles Basin, which includes Los Angeles and Orange counties, contributed to robust economic growth in 2023. Combined, professional and collegiate sports were associated with approximately: 83,880 total jobs, $8.9 billion in total labor income, and $704.8 million in state and local taxes.

KEY FINDINGS INCLUDE:

The increase in economic activity resulted from the sizable growth in the sports industry. Direct revenues grew by more than $816.2 million from 2022 to 2023, a 22% increase.
Professional sports added more than 1,700 jobs, accounting for 84.6% of the total jobs and direct revenues in the industry, up from 83% the previous year.
Attendance at professional sports events grew by an average of 4.3% across all major teams in the MLB, MLS, NBA, NFL, NHL, NWSL, and WNBA from 2022 to 2023, reflecting strong local support.
Soccer continues to gain traction in the region, with LAFC, Galaxy, and Angel City FC attracting average crowds ranging from 19,750 to 24,100.

“What’s clear about this report is that sports is one of the most important economic engines in Southern California,” said Stephen Cheung, President and CEO of LAEDC and World Trade Center Los Angeles. “The on-field success of so many local teams has clearly translated to jobs, local taxes and economic benefits for our region, an important reminder that Southern California’s bottom line is intertwined with sports. I’m thrilled that the LAEDC continues to partner with the Los Angeles Sports Council to showcase this important report during the always impactful Innovation Conference.”

As Los Angeles looks toward welcoming a global crowd for the 2026 FIFA World Cup and 2028 Summer Olympic and Paralympic Games, the sports industry remains on a steady path of growth, driven by investments in infrastructure. These events are expected to significantly boost tourism and economic activity.

“The LAEDC report shows in stark terms how vital our entire sports ecosystem is to the greater L.A. region, something the Los Angeles Sports Council showcases each day,” said Dave Klewan, Chairman of the Board of Directors for the LA Sports Council and General Manager of the Genesis Invitational for the TGR Foundation. “While I have no doubt these numbers will continue to grow with the Olympics and World Cup on the horizon, it’s also important to remember the hugely successful output each season of our professional and collegiate programs. Each of these teams contribute to a thriving Los Angeles and make our region one of the most important sports epicenters in the country.”

“Our world class teams, stadiums, arenas and fans – at all levels of competition – have fueled a resurgence we can all take pride in,” said Matt Cacciato, President and CEO of the LA Sports Council. “It’s no surprise that we are doing so well and expect the region to continue growing as we welcome even more championships, marquee events and global games.”

This report is the fourth in a series of economic studies commissioned by the LA Sports Council and released at its annual LA Sports Innovation Conference, a day-long forum for industry leaders from across Southern California’s sports ecosystem. It is the only study of its kind to quantify the economic activity and impact of the sports industry in the Los Angeles Basin, which includes Los Angeles and Orange counties.

View the full report, “Sports in the Los Angeles Basin: 2024 Economic Impact Study,” here: https://www.lasports.org/2024-economic-impact-report

Los Angeles Sports Council

Founded in 1988, the Los Angeles Sports Council is the premier sports trade association in the Los Angeles region. As champions of the Southern California sports community, the LA Sports Council serves as the connective thread of the industry through year-round programming and initiatives, including the LA Sports Awards, LA Sports Innovation Conference, and Ready, Set, Gold!, a non-profit program that unites Olympians and Paralympians with schools to promote healthy and active lifestyles. For more information, visit .

Los Angeles County Economic Development Corporation

The Los Angeles County Economic Development Corporation (LAEDC) is a nonprofit organization dedicated to advancing opportunity and prosperity for all the residents of Los Angeles County. Through collaborative partnerships, innovative programs, and strategic initiatives, LAEDC works to attract, retain, and grow businesses and quality jobs for the region.

NEWS SOURCE: LA Sports Council

This press release was issued on behalf of the news source (LA Sports Council), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/landmark-study-reveals-11-7-billion-economic-impact-of-sports-in-the-los-angeles-region-revealing-significant-growth-post-pandemic/

LenderLogix Q3 2024 Homebuyer Intelligence Report Data: Homebuyers Hold Steady and ‘Wait for the Rate’

BUFFALO, N.Y., Oct. 17, 2024 (SEND2PRESS NEWSWIRE) — LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the third quarter (Q3) of 2024.

Image caption: LenderLogix.

Pre-Approvals

In Q3 2024, borrowers generated 49,392 pre-approval letters through LenderLogix’s QuickQual pre-approval platform, a 15% decrease from Q2 2024. The average number of pre-approved borrowers per loan officer decreased slightly from 29 in Q2 2024 to 28.5 in Q3 2024.

The average pre-approval letter loan amount increased by 26% from $308,681 in Q2 to $388,215 in Q3, fueled by a 23% increase in the average sales price from $362,780 to $446,390. The average down payment shrank marginally from 15% in Q2 to 13% in Q3.

Conventional loans remained the most popular for pre-approved borrowers, staying consistent at 76%. All categories held steady through Q3, with FHA pre-approvals barely climbing from 17.8% to 17.9%, while VA (4%) and USDA (1%) maintained their share from Q2 to Q3 2024.

“With the Fed’s announcement that rates will likely drop again, it’s not surprising to see steady-to-slow developments as homebuyers wait for the rate,” said LenderLogix Co-Founder and CEO Patrick O’Brien.

Borrower Conversion

Of the borrowers using QuickQual in Q2 2024, the average number of days between pre-approval and loan submission increased nearly 7% from 85 to 91 days in Q3. The longest duration between pre-approval and application decreased by ten days from 603 in Q2 to 593 in Q3. The conversion rate from borrowers using QuickQual to loan application decreased slightly from 58% to 56% in Q3. Borrowers generated an average of eight pre-approval letters before converting.

“Homebuyers’ behavior has a lot to do with expectations, and we are certainly seeing that with our holding pattern,” O’Brien noted. “With Fannie Mae signaling this fall that its 30-year fixed rate will land at 6.2% by the end of the year, bringing it in line with the MBA’s expected rate before both glide in below 6% in 2025, we can see the effect of anticipation. Nonetheless, there are those who have found what they are looking for now, and they know those lowered rates will mean more demand that could place them in a bidding war.”

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix:

NEWS SOURCE: LenderLogix

To view the original story, visit: https://www.send2press.com/wire/lenderlogix-q3-2024-homebuyer-intelligence-report-data-homebuyers-hold-steady-and-wait-for-the-rate/

128 Promising Industrial Projects on the Horizon for September 2024

JACKSONVILLE BEACH, Fla., Oct. 15, 2024 (SEND2PRESS NEWSWIRE) — Industrial SalesLeads released its latest MiR Report today, reporting the September 2024 results for the Industrial Manufacturing industry’s planned capital project spending. This comprehensive overview report tracks North American industrial capital project activities, encompassing facility expansions, new plant constructions, and significant equipment modernization projects. The data within the report serves as a valuable resource for businesses seeking insights into industrial investment trends and strategic decision-making.

Image caption: 128 Promising Industrial Projects on the Horizon for September 2024.

Research confirms 128 new projects, a notable decline from August which reported 168 projects in the Industrial Manufacturing sector.

The following are selected highlights on new Industrial Manufacturing industry construction news.

Industrial Manufacturing – By Project Type

Manufacturing/Production Facilities – 100 New Projects

Distribution and Industrial Warehouse – 75 New Projects

Industrial Manufacturing – By Project Scope/Activity

New Construction – 35 New Projects

Expansion – 36 New Projects

Renovations/Equipment Upgrades – 54 New Projects

Plant Closings – 15 New Projects

Industrial Manufacturing – By Project Location (Top 10 States)

Indiana – 11

Michigan – 9

Ohio – 9

Texas – 8

Tennessee – 7

Ontario – 6

Pennsylvania – 6

Virginia – 6

Louisiana – 5

New York – 5

Largest Planned Project

During the month of September, our research team identified 16 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Highland Materials, Inc., who is planning to invest $1.4 billion for the construction of a 1.2 million sf manufacturing facility in Rocky Mount, NC. They are currently seeking approval for the project.

Top 10 Tracked Industrial Manufacturing Projects

TENNESSEE:

Specialty silicon product mfr. is planning to invest $1 billion for the construction of a 1.2 million sf manufacturing facility in SURGOINSVILLE, TN. They are currently seeking approval for the project. Construction is expected to start in 2026.

NORTH CAROLINA:

Titanium mfr. is planning to invest $868 million for the construction of a 500,000 sf manufacturing facility at 557 Bethune Dr. in FAYETTEVILLE, NC. They are currently seeking approval for the project. Completion is slated for 2027.

KENTUCKY:

Battery mfr. is planning to invest $712 million for the construction of a manufacturing facility in SHELBYVILLE, KY. They are currently seeking approval for the project.

INDIANA:

Solar panel mfr. is planning to invest $500 million for the renovation and equipment upgrades on a 781,000 sf manufacturing and warehouse facility at 5880 W. Indiana 28 in TIPTON, IN. Construction is expected to start in early 2025, with completion slated for fall 2026.

MICHIGAN:

Automotive mfr. is planning to invest $400 million for the renovation and equipment upgrades on their manufacturing facilities in STERLING HEIGHTS, MI, WARREN, MI and DUNDEE, MI. They are currently seeking approval for the project.

PENNSYLVANIA:

Plastic recycling service provider is planning to invest $183 million for the construction of a warehouse and processing facility in ERIE, PA. They are currently seeking approval for the project.

MICHIGAN:

EV battery mfr. is planning to invest $175 million for the construction of a manufacturing facility in FLINT, MI. They are currently seeking approval for the project.

WEST VIRGINIA:

Battery technology company is planning to invest $150 million for the expansion of their manufacturing facility in WEIRTON, WV. They are currently seeking approval for the project.

ILLINOIS:

Pharmaceutical company is planning to invest $146 million for the expansion of their manufacturing, processing, and distribution campus in ROCKFORD, IL by 545,000 sf. Completion is slated for Fall 2025.

MICHIGAN:

Battery materials mfr. is planning to invest $125 million for the construction of a manufacturing facility at 4925 Evanston Ave. in EGELSTON TOWNSHIP, MI. They are currently seeking approval for the project. Construction is expected to start in early 2026.

About Industrial SalesLeads, Inc.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

Industrial Manufacturing

Plastics

Food and Beverage

Metals

Power Generation

Pulp Paper and Wood

Oil and Gas

Mining and Aggregates

Chemical

Research and Development

Distribution and Supply Chain

Pipelines

Pharmaceutical

Misc. Industrial Buildings

Waste Water Treatment

Data Centers

NEWS SOURCE: Industrial SalesLeads Inc

To view the original story, visit: https://www.send2press.com/wire/128-promising-industrial-projects-on-the-horizon-for-september-2024/

Rate-and-Term Refinance Locks Surge 700% Over Previous Year Following the FOMC’s September Interest Rate Reduction

Optimal Blue's September 2024 Market Advantage mortgage data report released in conjunction with the inaugural Market Advantage podcast featuring Mortgage Bankers Association economist Joel Kan guest commentator

PLANO, Texas, Oct. 8, 2024 (SEND2PRESS NEWSWIRE) — Optimal Blue today released its September 2024 Market Advantage mortgage data report, which found a 50% month-over-month (MoM) increase in rate-and-term refinance activity as people who purchased homes in recent years jumped at the opportunity to lower their interest rates and mortgage payments. While the Federal Open Market Committee (FOMC) lowered its target federal funds rate by 50 bps on Sept. 18, the market had already priced in a portion of the rate reduction, leading to a full month of increased refinance activity in September.

Image caption: Optimal Blue Sept. 2024 Report.

“Refinance production has been trending higher for a few months now as mortgage rates rallied, but purchase activity had been stubbornly stagnant. However, September volumes indicate the tide may be turning,” said Brennan O’Connell, director of data solutions at Optimal Blue. “Excluding April of this year, which was impacted by the timing of Easter, September marks the first month with a year-over-year (YoY) increase in purchase locks since the Fed began raising rates in Spring of 2022. As we move into Q4, this is a very encouraging sign that the market may have found a floor and production is on the upswing.”

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data, include:

Refinance volumes surge: On an absolute basis, refinance production reached the highest level seen since January 2022. Rate-and-term refinance lock volume was up nearly 50% MoM and 700% YoY. Cash-out refinance volume rose a more modest 6% MoM but was still up more than 50% YoY.
Mortgage rates fall across the board: The Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming benchmark interest rate dropped 23 bps, while jumbo, FHA, and VA rates were down 22, 25, and 16 bps, respectively. The drop in mortgage interest rates did not directly correspond to the 50 bps FOMC rate cut because an anticipatory market had already priced a reduction in rates leading into September.
Conventional and VA production grew market share: The share of conforming loan production rose roughly .5% to 54.4%, and the share of non-conforming production – including jumbo and non-QM loans – rose .25% to 12.6%. The share of FHA loans fell roughly 1% to 18.7%, while VA rose .2% to 13.7%.
Average borrower credit increased across the board: The credit scores of rate-and-term refinance borrowers rose an average of 6 points to 737. The average conventional borrower credit score rose to 757, the highest since December 2020.
Average loan amounts and home prices rose: From August 2024 to September 2024, the average loan amount increased from $372.4K to $383.7K. The average home purchase price ticked up $10K to $475.8K after falling the previous two months.

The inaugural Market Advantage podcast has been released today in conjunction with the September Report. This month’s podcast features Joel Kan, vice president and deputy chief economist at the Mortgage Bankers Association, as a guest commentator. The podcast can be accessed at: https://market-advantage.captivate.fm/listen.

The full September 2024 Market Advantage report, which provides more detailed findings and additional insights into U.S. mortgage market trends, can be viewed at: https://www2.optimalblue.com/wp-content/uploads/2024/10/OB_MarketAdvantage_MortgageDataReport_Sept2024.pdf.

About the Market Advantage Report:

Formerly known as the Originations Market Monitor, Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE – the mortgage industry’s most widely used product, pricing, and eligibility engine – the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders’ pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue

LOGO link for media: https://www.Send2Press.com/300dpi/14-0625-s2p-optimal-blue-300dpi.jpg

NEWS SOURCE: Optimal Blue

To view the original story, visit: https://www.send2press.com/wire/rate-and-term-refinance-locks-surge-700-over-previous-year-following-the-fomcs-september-interest-rate-reduction/

MCT Reports 3% Increase in Mortgage Lock Volume, Refinance Activity Buoys Market

SAN DIEGO, Calif., Oct. 3, 2024 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced today a 3.17% increase in mortgage lock volume compared to the previous month. The report highlights key market dynamics, offering industry professionals valuable insights. Industry professionals and enthusiasts are invited to download the complete report for comprehensive insights into the market dynamics.

Image caption: MCT Reports 3% Increase in Mortgage Lock Volume, Refinance Activity Buoys Market.

August and September have seen a continued slowdown in purchase lock volume, as is typical following the summer buying season. However, refinance activity has shown a steady increase, strong enough to offset the usual decline in overall lock volume from August to September. This increase in refinance activity has contributed to maintaining total lock volume production.

“This data signals a potential shift in strategy for loan officers, who are increasingly targeting borrowers looking to refinance after securing mortgages at higher peak rates,” said Andrew Rhodes, Senior Director and Head of Trading at MCT. “However, for a more significant rise in refinance activity, mortgage rates will need to drop much further. Currently, many borrowers remain locked into historically low rates, making the potential for increased refinance volume contingent on further rate reductions outside of market expectations.”

Rhodes also pointed to the significance of upcoming economic indicators. “With the expected Fed rate cuts already factored in, the market is now turning its attention to Friday’s Nonfarm Payroll report and the next Consumer Price Index release for signs of where rates are headed,” he added.

As the industry navigates these evolving market conditions, MCT continues to provide critical insights and cutting-edge solutions for mortgage professionals.

For further insights into the current mortgage market and the latest trends in lock volume, MCT invites industry professionals to download the full report.

For a deeper analysis of these trends, download MCT’s full report: https://mct-trading.com/press-release/mct-reports-a-3-increase-in-mortgage-lock-volume-buoyed-by-refinance-activity/

About MCT:

For over two decades, MCT has been a leading source of innovation for the mortgage secondary market. Melding deep subject matter expertise with a passion for emerging technologies and clients, MCT is the de facto leader in innovative mortgage capital markets technology. From architecting modern best execution loan sales to launching the most successful and advanced marketplace for mortgage-related assets, lenders, investors, and network partners all benefit from MCT’s stewardship. MCT’s technology and know-how continues to revolutionize how mortgage assets are priced, locked, protected, valued, and exchanged – offering clients the tools to perform under any market condition.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

MEDIA CONTACT:
Ian Miller
Chief Marketing Officer
Mortgage Capital Trading
619-618-7855
pr@mctrade.net

MULTIMEDIA:

IMAGE link for media: https://mct-trading.com/wp-content/uploads/2024/10/mct-lock-volume-indices-31.png

NEWS SOURCE: Mortgage Capital Trading Inc.

To view the original story, visit: https://www.send2press.com/wire/mct-reports-3-increase-in-mortgage-lock-volume-refinance-activity-buoys-market/

iEmergent revises 2024-2026 U.S. Mortgage Origination Forecast downward

Purchase mortgage originations fell short of expectations amid stubbornly high interest rates, low housing affordability

DES MOINES, Iowa, Sept. 25, 2024 (SEND2PRESS NEWSWIRE) — iEmergent, a forecasting and advisory services firm for the financial services, mortgage and real estate industries, today announced downward revision of its 2024–2026 U.S. Mortgage Origination Forecast. Updated to reflect ongoing economic conditions, iEmergent now expects lower-than-anticipated growth for the next two years, particularly in the purchase mortgage market, while refinance volumes are projected to rise due to a gradual decline in mortgage interest rates.

Image caption: Historical and forecasted first-lien mortgage originations for 1–4 family homes.

The revision comes as part of iEmergent’s quarterly forecast update, which integrates the latest economic data and market trends into the company’s detailed projections for mortgage originations across the United States. Using its proprietary forecasting methodology, iEmergent has adjusted its forecast for 2024 to reflect weaker-than-expected performance in purchase mortgage originations, which fell short of early-year estimates due to persistently high interest rates and continued housing affordability challenges.

According to iEmergent Chief Economist Mark Watson, 2024 purchase mortgage originations are now projected to decrease in loan count compared to 2023, though an increase in average loan sizes will lead to a modest 3.5% increase in purchase volume. Meanwhile, refinance originations are expected to rise 48% from their 2023 lows, driven by the recent softening of mortgage interest rates.

Looking ahead, iEmergent forecasts purchase volumes will grow by 7% in 2025, while refinance originations will increase by 37%, reflecting a more favorable interest rate environment. By 2026, overall mortgage origination volumes are expected to show modest recovery as housing affordability gradually improves.

“The economic boon of the COVID-era refinance boom has been underappreciated in its impact on keeping interest rates higher for longer than anticipated,” said Watson. “While this has helped maintain economic strength, it has also suppressed mortgage origination volumes. We expect rates to finally start declining in the months ahead, offering some relief for both potential buyers and those looking to refinance.”

The updated 2024–2026 U.S. Mortgage Origination Forecast is now available within iEmergent’s Mortgage MarketSmart platform, which allows lenders to map future lending opportunities at the census tract level and overlay them with historical loan production data, demographic insights, property listings and more.

Read Mark Watson’s latest blog for more detailed analysis and commentary on the forecast update.

Methodology

For more than two decades, iEmergent has been predicting mortgage market trends with a level of precision that surpasses even the industry’s most trusted forecasts from the Mortgage Bankers Association, Freddie Mac and Fannie Mae. In fact, in almost 70% of the nation’s 84,414 census tracts, iEmergent’s U.S. Mortgage Origination Forecast has proven accurate to within 10 loans.

iEmergent’s proprietary forecasting method is a hybrid of several traditional demand forecast models. Many variables go into these forecasts, but there are two fundamental elements: first, the Purchase Mortgage Generation Rate (PMGR), which is the rate at which an individual market produces purchase mortgages. Second, the homebuyer pool: the number of households that are ready, willing and able to buy a home. By evaluating the relationship between each census tract’s homebuyer pool and PMGR, probability theory can be applied to estimate the number of purchase mortgage loans and dollars that will be originated in that market.

About iEmergent

Founded in 2000, iEmergent provides mortgage lending forecasts and analytics to the lending, housing and real estate industries. The company offers an extensive variety of forecast and market intelligence products, including Mortgage MarketSmart, a visualization tool that helps lenders quantify how mortgage markets will change. For more information, visit https://www.iemergent.com.

X/Twitter: @iemergent #housingfinance #housingequity #housingeconomy #mortgage #HMDA #fairlending

NEWS SOURCE: iEmergent

This press release was issued on behalf of the news source (iEmergent), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/iemergent-revises-2024-2026-u-s-mortgage-origination-forecast-downward/

ProPair’s Q2 2024 Impact Study Reveals Significant Gains in Sales Conversions with Predictive Lead Assignments

SAN CARLOS, Calif /ScoopCloud/ -- ProPair, the fastest way for marketing and sales leaders to implement predictive AI, has released its Q2 2024 Impact Study, showcasing a substantial 46% improvement in sales conversions using Predictive Lead Assignments compared to standard lead assignment methods. This breakthrough underscores the growing importance of data-driven decision-making in sales strategies.

Key Findings:

* Leads managed using ProPair's Predictive AI technology converted at a rate of 2.5%, significantly higher than the 1.7% conversion rate achieved with traditional lead assignment methods.

* The study analyzed over 390,000 leads between April 1st, 2024, and June 30th, 2024, from both company-generated and third-party purchased internet sources. The data was standardized across industries and lead types, providing a comprehensive view of the impact.

* ProPair's Predictive AI assignments leverage machine learning to recommend the optimal agent for each new lead, eliminating the guesswork and inefficiencies of traditional round-robin or manager-discretion methods.

A Record-Setting Quarter for Predictive Lead Assignments

This quarter marks the highest recorded impact since the inception of ProPair's quarterly studies in 2023. Enhancements in the recommendation engine, along with improved customer practices, contributed to this remarkable increase in performance. Sales and marketing leaders who have long suspected that a more deliberate approach to lead assignments could yield better results now have quantifiable evidence supporting this belief.

"Sales leaders love the concept of predictive lead assignments, but don't yet know it's a production-ready and validated technology. We're changing that," said Ethan Ewing, CEO at ProPair. "Our customers are seeing up to 50% more conversions without any additional systems or complex integrations, making it a simple upgrade that delivers substantial returns."

Why Predictive Lead Assignments Matter

Traditional lead assignments often rely on outdated methods such as round-robin distribution or subjective manager choices, which can lead to suboptimal results. ProPair's Predictive Lead Assignment, powered by AI, ensures that each lead is matched with the agent most likely to convert it, resulting in increased efficiency and sales outcomes.

About ProPair

ProPair is the fastest way for marketing and sales leaders to implement predictive AI, transforming how they manage leads and maximize sales performance. ProPair's applications insert predictive values directly into existing systems, allowing organizations to quickly leverage the huge benefits of predictive models and deliver measurable results.

Schedule a Demo Today

Ready to move your marketing and sales teams to predictive lead assignments? Contact ProPair to schedule a demo.

For more information, please visit https://www.propair.ai

Media and business queries:
Ethan Ewing
Founder, ProPair
eewing @ propair.ai

ProPair, the fastest way for marketing and sales leaders to implement predictive AI, has released its Q2 2024 Impact Study, showcasing a substantial 46% improvement in sales conversions using Predictive Lead Assignments compared to standard lead assignment methods. This breakthrough underscores the growing importance of data-driven decision-making in sales strategies.

Related link: https://www.propair.ai/

Critical Defect Rate Rises to 1.58%, Per ACES Mortgage QC Industry Trends Report

DENVER, Colo. /ScoopCloud/ -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the first quarter (Q1) of 2024. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.

Notable findings from the Q1 2024 report include the following:

* The overall critical defect rate increased 3.27% to 1.58% in Q1 2024, ending five quarters of decline.

* While Income/Employment remains the leading category of defects, performance improved tremendously quarter-over-quarter in this category.

* Defects increased in two of the four major underwriting categories, with Credit defects nearly doubling from Q4 2023.

* Legal/Regulatory/Compliance defects increased by 208.37% to 16.22%, becoming the second-highest category of defects this quarter, followed by Loan Documentation at 14.41%.

* Insurance defects, while usually negligible, comprised 8.11% of all defects.

* Although refinance review share declined this quarter, defect share doubled, indicating a degradation in quality in this area.

* Defect share outstripped review share for conventional loans this quarter, most certainly fueled by the surge in refinance defects.

* Both review share and defect share declined in the FHA category. Lenders also saw substantial improvements in VA defect share despite significantly increasing review share over Q4.

"Given origination levels in the first quarter of this year, the findings in this report showed greater changes than expected," said ACES Executive Vice President Nick Volpe. "Historically, defect rates decrease when there is a decline in origination levels; however, that was not the case for Q1. Mortgage lenders are no strangers to market adversity. While the market is shifting, we hope this report will serve as a reminder to reinforce quality control across the board."

Findings for the Q1 ACES Mortgage QC Industry Trends Report are based on post-closing quality control data derived from the ACES Quality Management and Control® benchmarking system and incorporate data from prior quarters and/or calendar years, where applicable. All reviews and defect data evaluated for the report were based on loan audits selected by lenders for full file reviews.

"The current mortgage market presents distinct challenges that lenders must navigate with precision. Although the critical defect rate remains low by historical standards, the increase in a quarter with record-low origination volumes is concerning. Notable rises across underwriting categories and unexpected insurance defects need closer scrutiny from lenders," said Trevor Gauthier, CEO of ACES Quality Management. "Overall, the data clearly shows that lenders are under increasing pressure to maintain quality amid changing market dynamics. A proactive approach to quality control is crucial for mitigating risk and ensuring long-term stability."

The Mortgage QC Industry Trends Reports are available for download, free of charge, at https://www.acesquality.com/resources/reports.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* Over 70% of the top 20 independent mortgage lenders;

* 7 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the first quarter (Q1) of 2024. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.

Related link: https://www.acesquality.com/

August 2024 Bounces Back with a 22% Increase in New Planned Capital Projects from Previous Month

JACKSONVILLE, Fla. /ScoopCloud/ -- Industrial SalesLeads announced today the August 2024 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 168 new projects as compared to 138 projects the previous month.

The following are selected highlights on new Industrial Manufacturing industry construction news.

Industrial Manufacturing - By Project Type

Manufacturing/Production Facilities - 153 New Projects

Distribution and Industrial Warehouse - 99 New Projects

Industrial Manufacturing - By Project Scope/Activity

New Construction - 43 New Projects

Expansion - 56 New Projects

Renovations/Equipment Upgrades - 68 New Projects

Plant Closings - 18 New Projects

INDUSTRIAL MANUFACTURING - BY PROJECT LOCATION (TOP 10 STATES)

New York - 15

Indiana - 14

Ohio - 13

Michigan - 12

Ontario - 11

Wisconsin - 11

North Carolina - 10

Pennsylvania - 6

Tennessee - 6

Arizona - 5

LARGEST PLANNED PROJECT

During the month of August, our research team identified 11 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Natron Energy, who is planning to invest $1.4 billion for the construction of a 1.2 million sf manufacturing facility in ROCKY MOUNT, NC. They are currently seeking approval for the project.

TOP 10 TRACKED INDUSTRIAL MANUFACTURING PROJECTS

QUEBEC:

Aerospace company is planning to invest $1.2 billion for the expansion of their manufacturing facility in MIRABEL, QC. They have recently received approval for the project.

NEW MEXICO:

Solar cell mfr. is planning to invest $942 million for the construction of a 834,000 sf manufacturing facility in ALBUQUERQUE, NM. They are currently seeking approval for the project. Construction is expected to start in late 2024.

INDIANA:

Steel company is planning to invest $300 million for the renovation and equipment upgrades on their manufacturing facility in GARY, IN. They are currently seeking approval for the project.

MINNESOTA:

Tissue paper mfr. is planning to invest $250 million for a 500,000 sf expansion, renovation, and equipment upgrades on a recently acquired manufacturing and warehouse facility in DULUTH, MN. They are currently seeking approval for the project.

WEST VIRGINIA:

Steel mfr. is planning to invest $150 million for the construction of a manufacturing facility in WEIRTON, WV. They are currently seeking approval for the project. Completion is slated for 2026.

NORTH CAROLINA:

Veterinary medical device mfr.. is planning to invest $147 million for the construction of a manufacturing facility in WILSON, NC. They are currently seeking approval for the project.

KENTUCKY:

Electric component mfr. is planning to invest $144 million to repurpose their manufacturing facility in MAYSVILLE, KY. They are currently seeking approval for the project.

KANSAS:

Pharmaceutical company is planning to invest $130 million for the renovation, expansion, and equipment upgrades on their processing facility in ELWOOD, KS. They are currently seeking approval for the project.

OHIO:

Steel company is planning to invest $100 million for an expansion of their manufacturing facility in CANTON, OH. They are currently seeking approval for the project.

FLORIDA:

Building materials mfr. is planning to invest $78 million for the construction of a 480,000 sf manufacturing and warehouse facility in ZEPHYRHILLS, FL. Construction is expected to start in late 2024. They will consolidate their regional operations upon completion slated for late 2025.

About Industrial SalesLeads, Inc.

Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at https://www.salesleadsinc.com/.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

* Industrial Manufacturing
* Plastics
* Food and Beverage
* Metals
* Power Generation
* Pulp Paper and Wood
* Oil and Gas
* Mining and Aggregates
* Chemical
* Research and Development
* Distribution and Supply Chain
* Pipelines
* Pharmaceutical
* Misc. Industrial Buildings
* Waste Water Treatment
* Data Centers

Industrial SalesLeads announced today the August 2024 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 168 new projects as compared to 138 projects the previous month.

Related link: https://www.salesleadsinc.com/

Rate-and-Term Refinances Surge 109% MoM in August as Mortgage Rates Decline

PLANO, Texas /ScoopCloud/ -- Optimal Blue today released its August 2024 Market Advantage mortgage data report, which reveals an overall 1% rise in rate lock volume despite the typical seasonal slowdown in purchase lending. Lock volume growth was driven by a surge in refinance activity as homeowners reacted to declining mortgage rates.

"Refinance activity, particularly rate-and-term refinances, surged as mortgage rates declined across all loan types," said Brennan O'Connell, director of data solutions at Optimal Blue. "Notably, August saw a remarkable 109% month-over-month (MoM) increase in rate-and-term refi volume in response to a 31-basis-point drop in the benchmark OBMMI 30-year conforming rate, which ended the month at 6.37%. Rate-and-term refi activity was up 300% from the same period last year."

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data, include:

* Refinance volume spikes and purchase volume falls: Refinances now account for 26% of total production, the highest level since March 2022, when the Federal Reserve began increasing interest rates. Rate-and-term refinance volume more than doubled in August, rising 109% MoM, while cash-out refinances also saw a more modest increase of 8%. Purchase volume fell by 10% MoM.

* Mortgage rates decline: 30-year mortgage rates trended downward in August across all loan types, with the biggest shift in FHA rates, which fell by 40 bps to 6.13%, and the smallest shift occurring in conforming rates, which fell by 31 bps to 6.37%.

* Narrowed spreads provide more refinance incentive: The 10-Year Treasury yield decreased by 18 bps to 3.91%, with the spread between the 10-Year Treasury and the 30-year conforming mortgage rate narrowing by 13 bps to 246 bps. This marks a significant improvement in the spread, which has fallen by over 50 bps from the same period last year.

* Purchase counts reflect persisting challenges for homebuyers: Despite the increase in refinance activity, purchase lock counts - a key indicator of housing market conditions - dropped 16% YoY due to continued affordability and inventory challenges. Purchase locks are down 45% over August 2019.

* 2024 FHA and purchase borrowers' credit scores at highest in seven years: Throughout 2024, monthly average credit scores have been higher than average for FHA borrowers (675.3), as well as for borrowers seeking purchase loans (736.4), than any other month dating back to January 2018, when Optimal Blue started tracking the data. The average credit score across all production in August 2024 was 731.

* Loan amount and purchase price: The average loan amount rose from $369.1K to $372.4K, while the average purchase price fell from $471K to $465.5K.

View the full August 2024 Market Advantage report, which provides more detailed findings and additional insights into U.S. mortgage market trends, at (PDF): https://www2.optimalblue.com/wp-content/uploads/2024/09/OB_MarketAdvantage_MortgageDataReport_August2024.pdf.

About the Market Advantage Report:

Formerly known as the Originations Market Monitor, Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE - the mortgage industry's most widely used product, pricing, and eligibility engine - the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders' pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes maximize profitability and operate efficiently so they can help American borrowers achieve the dream of homeownership. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that, in any market environment, allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between. To learn more, visit OptimalBlue.com.

Optimal Blue today released its August 2024 Market Advantage mortgage data report, which reveals an overall 1% rise in rate lock volume despite the typical seasonal slowdown in purchase lending. Lock volume growth was driven by a surge in refinance activity as homeowners reacted to declining mortgage rates.

Related link: https://www2.optimalblue.com/

MCT Reports a 3% Increase in Mortgage Lock Volume Backed by Increasing Refinance Activity

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced today a 3.33% increase in mortgage lock volume compared to the previous month. Despite a larger increase in rate/term volume, total mortgage volume remains relatively flat.

A recent quarter-point drop in conventional 30-year and government 30-year mortgage rates has triggered an increase of 103.19% in refinance activity compared to the previous month. This surge has helped stabilize overall production levels as total volume remains low, especially when compared to 2020 and 2021. Notably, the year-over-year comparison shows a moderate increase of about 21% in total volume, also driven by a dramatic rise in refinances over the previous year.

Industry experts suggest that many lenders may be pricing in the potential rate cuts expected during the upcoming Federal Reserve meeting.

Andrew Rhodes, Senior Director and Head of Trading at MCT, offered insights into the current market landscape: "We could see additional short-term market volatility as the Fed considers a 25 or 50 basis point rate cut. Friday's Nonfarm Payroll Report will provide further clarity on that decision."

Industry professionals and market enthusiasts are encouraged to download the full report from MCT for a comprehensive analysis of these market dynamics.

MCT's Lock Volume Indices present a snapshot of rate lock volume activity in the residential mortgage industry broken out by lock type (purchase, rate/term refinance, and cash out refinance) across a broad diversity of lenders (e.g., sizes, products/services offered, business models) from MCT's national footprint.

For a deeper analysis of these trends, download MCT's full report: https://mct-trading.com/press-release/mct-reports-3-percent-mortgage-lock-volume-increased-refinance-activity/

About MCT:

For over two decades, MCT has been a leading source of innovation for the mortgage secondary market. Melding deep subject matter expertise with a passion for emerging technologies and clients, MCT is the de facto leader in innovative mortgage capital markets technology. From architecting modern best execution loan sales to launching the most successful and advanced marketplace for mortgage-related assets, lenders, investors, and network partners all benefit from MCT's stewardship. MCT's technology and know-how continues to revolutionize how mortgage assets are priced, locked, protected, valued, and exchanged - offering clients the tools to perform under any market condition.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

MEDIA CONTACT:
Ian Miller
Chief Marketing Officer
Mortgage Capital Trading
619-618-7855
pr@mctrade.net

Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced today a 3.33% increase in mortgage lock volume compared to the previous month. Despite a larger increase in rate/term volume, total mortgage volume remains relatively flat.

Related link: https://mct-trading.com/

Summer Slowdown Hits in July 2024 with 138 New Industrial Manufacturing Planned Industrial Projects

JACKSONVILLE BEACH, Fla. /ScoopCloud/ -- Industrial SalesLeads announced today the July 2024 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 138 new projects as compared to 164 in June.

The following are selected highlights on new Industrial Manufacturing industry construction news.

Industrial Manufacturing - By Project Type

* Manufacturing/Production Facilities - 121 New Projects

* Distribution and Industrial Warehouse - 73 New Projects

Industrial Manufacturing - By Project Scope/Activity

* New Construction - 54 New Projects

* Expansion - 36 New Projects

* Renovations/Equipment Upgrades - 54 New Projects

* Plant Closings - 12 New Projects

Industrial Manufacturing - By Project Location (Top 10 States)

* Texas - 11

* Ohio - 9

* Indiana - 8

* Illinois - 7

* Michigan - 7

* Pennsylvania - 7

* California - 6

* Georgia - 6

* Massachusetts - 6

* Ontario - 6

LARGEST PLANNED PROJECT

During the month of July, our research team identified 27 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Substrate, Inc., who is planning to invest $108 billion for the construction of a 3 million sf manufacturing complex in BRYAN, TX. They are currently seeking approval for the project.

TOP 10 TRACKED INDUSTRIAL MANUFACTURING PROJECTS

MISSOURI:

Federal agency is planning to invest $3 billion for the expansion of their nuclear weapon component manufacturing complex in KANSAS CITY, MO by 2.5 million sf. Construction will occur in multiple phases, with completion of the 1st phase slated for Summer 2026.

TEXAS:

Federal agency is planning to invest $1.4 billion for the construction of a semiconductor manufacturing and office campus at the University of Texas in AUSTIN, TX. They are currently seeking approval for the project. Construction will occur in two phases.

VIRGINIA:

Industrial wire and cable mfr. is planning to invest $681 million for the construction of a 750,000 sf manufacturing and warehouse facility at 1213 Victory Blvd. in CHESAPEAKE, VA. Construction is expected to start in early 2025, with completion slated for early 2028.

OKLAHOMA:

Solar panel component mfr. is planning to invest $620 million for the construction of a manufacturing facility at Tulsa International Airport in TULSA, OK. They are currently seeking approval for the project. Construction is expected to start in late 2024, with completion slated for 2026.

CALIFORNIA:

Steel fabrication company is planning to invest $540 million construction of a 551,000 sf manufacturing and warehouse complex on Sopp Rd. in MOJAVE, CA. They are currently seeking approval for the project.

GEORGIA:

Tire mfr. is considering investing $500 million for the construction of a manufacturing facility and currently seeking a site in GEORGIA. Watch SalesLeads for updates.

MICHIGAN:

Automotive mfr. is planning to invest $500 million for the renovation and equipment upgrades on their manufacturing facility at 920 Townsend St. in LANSING, MI. They are currently seeking approval for the project.

KENTUCKY:

Automotive mfr. is planning to invest $400 million for the construction of a manufacturing facility in SHELBYVILLE, KY. They are currently seeking approval for the project.

NORTH CAROLINA:

Medical device mfr. is planning to invest $400 million for the construction of a 550,000 sf manufacturing, warehouse, office, and training campus at 1911 Old Creek Road in GREENVILLE, NC. Construction is expected to start in Fall 2024, with completion slated for late 2026.

ILLINOIS:

Automotive mfr. is planning to invest $334 million for the renovation and equipment upgrades on their manufacturing facility in BELVIDERE, IL. They are currently seeking approval for the project.

About Industrial SalesLeads, Inc.

Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at https://www.salesleadsinc.com/.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

* Industrial Manufacturing

* Plastics

* Food and Beverage

* Metals

* Power Generation

* Pulp Paper and Wood

* Oil and Gas

* Mining and Aggregates

* Chemical

* Research and Development

* Distribution and Supply Chain

* Pipelines

* Pharmaceutical

* Misc. Industrial Buildings

* Waste Water Treatment

* Data Centers

Learn more: https://www.salesleadsinc.com/industry/industrial-manufacturing/

Industrial SalesLeads announced today the July 2024 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 138 new projects as compared to 164 in June.

Related link: https://www.salesleadsinc.com/

July Refinance Activity Hits Highest Levels Since September 2022

PLANO, Texas /ScoopCloud/ -- Optimal Blue today released its July 2024 Market Advantage mortgage data report, which revealed that mortgage refinance demand surged to levels not seen since September 2022 amid softening interest rates. The lower interest rates seen in July also coaxed increased purchase activity, which, combined with greater refi activity, drove a 3.5% month-over-month (MoM) increase in mortgage rate lock volumes.

"The July report shows a notable uptick in refinance activity, particularly rate-and-term refinances, which jumped 12% as borrowers responded to declining interest rates," said Brennan O'Connell, director of data solutions at Optimal Blue. "The drop in the Optimal Blue Mortgage Market Indices 30-year conforming rate to 6.67% played a significant role in this growth, and we observed the highest level of refinance activity since September 2022."

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data, are:

* Increase in rate lock volume: Overall rate lock volume rose by 3.5% MoM, with purchase activity up 2.5% and refinance activity showing even stronger growth. Cash-out refinance volume grew by 5.9% MoM, while rate-and-term refinance activity surged 12.3%, reflecting borrower sensitivity to lower rates.

* Purchase lock count growth: Purchase lock counts grew by 2.5% MoM in July, though they remained down 7% year-over-year (YoY). This is a significant improvement over June's 17% YoY decline, suggesting a potential stabilization in purchase demand as the market adjusts.

* Refinance activity surge: Refinance activity reached its highest level since September 2022, with the refinance share growing to 17% of total volume - an 81-basis-point increase from June and a 472-basis-point rise YoY. This aligns with trends in the OBMMI 30-year conforming rate, which ended July 2024 at 6.67%, nearly identical to the 6.68% rate that closed out September in 2022.

* Rate and treasury movements: The OBMMI 30-year conforming rate ended July at 6.67%, down 26 basis points from June. Meanwhile, the 10-year Treasury yield dropped by 27 basis points to 4.09%. The spread between the 30-year conforming rate and the 10-year Treasury remained stable at 258 basis points, an uptick of just 1 basis point.

* Shift in loan mix: The loan mix in July shifted toward agency production. Conforming loans increased market share to 56.1% (+18 bps), FHA loans grew to 19.0% (+61 bps), and VA loans rose to 11.9% (+22 bps). Conversely, non-conforming loans, including jumbo and non-QM, saw a decline in market share, falling to 12.4% (-107 bps).

* Decrease in average loan amount: The average loan amount decreased from $374K in June to $369K in July, reflecting the shift away from non-conforming loan types.

* Stable credit quality: Credit scores remained stable, with the average score holding steady at 732.

The full July 2024 Market Advantage report provides more detailed findings and additional insights into U.S. mortgage market trends (PDF): https://www2.optimalblue.com/wp-content/uploads/2024/08/OB_MarketAdvantage_MortgageDataReport_July2024.pdf.

About the Market Advantage Report:

Formerly known as the Originations Market Monitor, Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE - the mortgage industry's most widely used product, pricing, and eligibility engine - the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders' pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes maximize profitability and operate efficiently so they can help American borrowers achieve the dream of homeownership. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that, in any market environment, allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between. To learn more, visit https://OptimalBlue.com/.

Optimal Blue today released its July 2024 Market Advantage mortgage data report, which revealed that mortgage refinance demand surged to levels not seen since September 2022 amid softening interest rates. The lower interest rates seen in July also coaxed increased purchase activity, which, combined with greater refi activity, drove a 3.5% month-over-month (MoM) increase in mortgage rate lock volumes.

Related link: https://www2.optimalblue.com/

MCT Reports a 6% Mortgage Lock Volume Decrease in Latest Report

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced today a decrease of 5.67% in mortgage lock volume compared to the previous month. Industry professionals and enthusiasts are invited to download the complete report for comprehensive insights into the market dynamics.

Mortgage lock volume over the past eight weeks has continued to trend downward. This trend is consistent with a decrease in supply as we progress through the summer.

Looking ahead, the trend is expected to continue into the next month. Even as rates gradually decrease, many potential buyers may be holding off in anticipation of potentially better rates later in the year.

Additionally, a potential September rate cut has already been priced into the market, suggesting that if the Federal Reserve does cut rates in their September meeting, it may have little effect on mortgage rates.

Andrew Rhodes, Senior Director, Head of Trading at MCT, states, "Today's Nonfarm payroll report came in below expectations along with a higher than expected unemployment rate. If this trend continues, it is looking very likely the Federal Reserve will cut rates in their September meetings."

MCT's Lock Volume Indices present a snapshot of rate lock volume activity in the residential mortgage industry broken out by lock type (purchase, rate/term refinance, and cash out refinance) across a broad diversity of lenders (e.g., sizes, products/services offered, business models) from MCT's national footprint.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Download the Complete Report at: https://mct-trading.com/press-release/mct-reports-a-6-percent-mortgage-lock-volume-decrease-in-latest-indices-report/

MULTIMEDIA:

IMAGE link for media: https://www.Send2Press.com/300dpi/24-0802-s2p-mct-chart-300dpi.jpg

Image caption: Lock Volume for July by Transaction Type.

MCT Media Contact:
Ian Miller
Chief Marketing Officer
Mortgage Capital Trading
619-618-7855
pr@mctrade.net

Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced today a decrease of 5.67% in mortgage lock volume compared to the previous month. Industry professionals and enthusiasts are invited to download the complete report for comprehensive insights into the market dynamics.

Related link: https://mct-trading.com/

Restrictive Policies Contribute to California’s Low Construction Employment Ranking

SACRAMENTO, Calif. /ScoopCloud/ -- The construction unemployment rate in California stands at 3.9% through June 2024. While this marks a decrease in a year, a deeper review of the numbers shows that only 7 states have seen their unemployment rates improve slower than California, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released today by the Associated Builders and Contractors (ABC). "While the industry is pleased with a relatively low unemployment rate, we wonder how much lower it could be if we simply adopted policies consistent with the rest of the nation," said John Morris, President and CEO, ABC Northern California Chapter (ABC NorCal).

California's ranking in the bottom 15% of the nation is reflective of the state's regulatory complexities and policies which increase project costs and reduce opportunities for more construction projects and economic growth. The analysis by ABC underscores the critical need to address the policies contributing to California's low position relative to the rest of the country.

Morris added, "California policies like project labor agreements and the frivolous lawsuits imposed by the California Environmental Quality Act reduce the amount of construction projects and increase the unemployment rate of skilled trades workers. ABC NorCal is committed to working with industry leaders and policymakers to create solutions that will enhance career opportunities and overall economic growth while reducing our state's deficit and unemployment rates."

ABC is the voice of the construction industry in Northern California, representing over 83,000 workers.

Click here to view graphs of U.S. and state overall unemployment rates (Tab 1) and construction unemployment rates (Tab 2) showing the impact of the COVID-19 pandemic, including a graphing tool that creates a chart for multiple states (XLSX FILE): https://www.abc.org/Portals/1/CEU/State%20Construction%20UR%20Tables_ABC_Jun%202024%20Data.xlsx?ver=4RdjC4twmDrHpA8vg4EiJQ%3d%3d.

To better understand the basis for calculating unemployment rates and what they measure, check out the Background on State Construction Unemployment Rates: https://www.abc.org/News-Media/News-Releases/background-on-state-construction-unemployment-rates.

Visit https://www.abc.org/News-Media/News-Releases?Category=construction-economics for the Construction Backlog Indicator and Construction Confidence Index, plus analysis of spending, employment, job openings and the Producer Price Index.

About ABC:

ABC, established in 1950, is a national construction industry trade association with 68 chapters representing more than 23,000 contractor members and millions of workers. Founded on the merit shop philosophy, ABC helps members develop construction jobs, win work, and deliver that work safely, ethically and profitably.

Visit us at https://abcnorcal.org/.

MEDIA CONTACT:

Matthew Estipona, ABC | (415) 235 - 2853 | matthew@abcnorcal.org

ABC press room: https://abcnorcal.org/press-room/.

The construction unemployment rate in California stands at 3.9% through June 2024. While this marks a decrease in a year, a deeper review of the numbers shows that only 7 states have seen their unemployment rates improve slower than California, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released today by the Associated Builders and Contractors (ABC). "While the industry is pleased with a relatively low unemployment rate, we wonder how much lower it could be if we simply adopted policies consistent with the rest of the nation," said John Morris, President and CEO, ABC Northern California Chapter (ABC NorCal).

Related link: https://abcnorcal.org/

Federal funds fuel quarterly growth in U.S. down payment assistance programs, which now number 2,415

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, today released its Q2 2024 Homeownership Program Index (HPI) report. The Q2 report saw the national homebuyer assistance programs increase by 42 to 2,415 - the highest count on record. Much of this quarter's increase in program count was due to local agencies pulling more heavily from federal funding to support homebuyer assistance.

"It's very encouraging to see more state HFAs allocating American Rescue Plan Act (ARPA) and US Department of Health and Human Services (HHS) funds to support homeownership. We think this indicates that local municipalities are increasingly viewing affordable homeownership as a stabilizing force that fosters prosperity within communities," said Rob Chrane, founder and CEO of DPR. "We are also particularly encouraged by the rise in programs targeting first-generation homebuyers to ensure more Americans can achieve the dream of homeownership."

Key HPI Report Findings

An examination of the existing 2,415 homebuyer assistance programs on July 1, 2024, resulted in the following key findings:

* The number of U.S. homebuyer assistance programs increased by 42 quarterly. This represents a 2% increase over the previous quarter and 213 more programs than in Q2 2023.

* 29 more program providers supported homebuyer assistance in Q2 2024 than the previous quarter.

* Federally-funded programs are on the rise.

o 24 programs are now funded by the ARPA, a 26% increase from the previous quarter and a 200% increase year-over-year (YoY). The ARPA authorized $350 billion in 2021 to help state, local, and tribal governments respond to and recover from the COVID-19 pandemic. APRA-funded homebuyer assistance programs are on the rise because governments must return funds to the Treasury Department if they are not allocated by December 31, 2024, and spent by December 31, 2026.

o The number of programs funded by HHS increased by 19% quarterly and 121% annually to 31 programs. Many studies have shown that stable housing positively impacts the health of individuals and families. This understanding is likely why HHS is increasingly supporting affordable housing.

* 21 programs target first-generation buyers, a 133% increase from 9 in Q1 2024. First-generation homebuyers are less likely to receive financial assistance from their parents for a downpayment and other upfront home-buying costs. "This is a recent trend we are seeing in the past year or so that started with a few pilot programs and is now being replicated by agencies throughout the country," said Chrane.

* 970 programs allow for repeat buyers, while 1,445 are restricted to first-time buyers. "While the majority of programs are for first-time buyers, we've seen a steady uptick in the number of programs that allow for repeat buyers," said Chrane, noting that the YoY change is 11%.

A more detailed analysis of the Q2 2024 HPI findings, including infographics and examples of the programs described in this release, can be found on DPR's website at https://downpaymentresource.com/professional-resource/the-down-payment-resource-q2-2024-homeownership-program-index-report.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2024/07/HPI-state-by-state-data.Q22024.pdf.

Methodology

Published quarterly, DPR's HPI surveys the funding status, eligibility rules and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits and other housing organizations. DPR communicates with over 1,300 program providers throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates (MCCs) and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

X: @DwnPmtResource #downpaymentassistance #affordabilitycrisis #housingaffordability #mortgage #housingequity #downpayment

Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, today released its Q2 2024 Homeownership Program Index (HPI) report. The Q2 report saw the national homebuyer assistance programs increase by 42 to 2,415 - the highest count on record. Much of this quarter's increase in program count was due to local agencies pulling more heavily from federal funding to support homebuyer assistance.

Related link: https://www.downpaymentresource.com/

LenderLogix Q2 2024 Homebuyer Intelligence Report Data Shows Home Buying Activity and Fees Collected by Fee Chaser Remain Steady Thus Far in 2024

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the second quarter (Q2) of 2024.

Pre-Approvals

In Q2 2024, borrowers generated 58,057 pre-approval letters through LenderLogix's QuickQual pre-approval platform, an 8% increase from Q1 2024. The average number of pre-approved borrowers per loan officer increased from 25 in Q1 2024 to 29 in Q2 2024.

The average pre-approval letter loan amount slightly decreased from $309,771 in Q1 to $308,681 in Q2. However, the average sales price slightly increased from $358,175 to $362,780. The average down payment size shows a change, marginally increased from 13.6% in Q1 to 14.6%.

Conventional loans remained the most popular loan type for pre-approved borrowers, staying consistent at 76%. FHA pre-approvals increased incrementally from 17.6% to 17.8%. VA (4%) and USDA share (1%) maintained their share from Q1 to Q2 2024.

"Overall borrower activity has stayed consistent in 2024," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Given these steady numbers, loan officers leveraging our products have been able to maintain steady business and origination levels. With QuickQual's conversation rate at 58% and the average per fee collection size at $646, loan officers are continuing to focus on what's working for them in the current market."

Borrower Conversion

Of the borrowers using QuickQual in Q1 2024, the average number of days between pre-approval and loan submission increased nearly 8% to 85 days compared to 78.29 days in Q1. The most prolonged duration between pre-approval and application decreased from 699 days in Q1 to 603 days. Despite this significant change, the conversion from borrowers using QuickQual to loan application increased slightly to 58% from 57% in Q1. Within this subset, borrowers generated an average of 8.7 pre-approval letters before converting.

"While the Federal Reserve's decision to hold on rate cuts until possibly later in the year may have dampened lenders' expectations, borrowers seem to have come to terms with the current state of interest rates and are committed to buying, though perhaps not to the same degree as in previous purchase cycles," O'Brien noted. "The lesson we've observed through the first half of 2024 is that there is business to be had, but lenders may need to dig deeper to find it."

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the second quarter (Q2) of 2024.

Related link: https://www.lenderlogix.com/

Falling Home Prices and Purchase Mortgage Locks Reveal a Stagnant Late-Spring Housing Market

PLANO, Texas /ScoopCloud/ -- Optimal Blue today released its June 2024 Market Advantage mortgage data report, which revealed a stagnant late-spring housing market as home prices dropped for the first time in 2024 and purchase lock counts fell 8% over the previous year. All mortgage lock figures in this news release have been controlled for fewer market days in June.

"Despite an improvement in interest rates, purchase activity was subdued in June. However, many homeowners with higher rates - particularly those who closed on their mortgage in the last 12 to 18 months - jumped at the opportunity to refinance, even for a small reduction in monthly payments. This behavior speaks to the ongoing inventory and affordability challenges consumers are experiencing," said Brennan O'Connell, director of data solutions at Optimal Blue. "As we look toward the back half of 2024 and the potential for rate relief from the Fed, purchase lock counts will provide insight into if and when production will turn the corner."

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data are:

* Small dip in interest rates: The benchmark OBMMI 30-year conforming rate bottomed out on June 13 at 6.810% before ending the month at 6.938%, 8 bps lower than the close of May. The retreat in mortgage rates prompted a 39% MoM increase in rate-and-term refinance volume.

* Year-over-Year purchase lock counts fall: After showing a YoY increase in April, purchase lock counts - a key measure for market health that excludes the impact of home price appreciation (HPA) and volatile refinance activity - have been down for two consecutive months this spring, falling 4% YoY in May and 8% YoY in June.

* Lethargic volume despite jump in refis: Total volume was up 2% over the previous month, an incremental increase driven by a 22% jump in refinance activity[1][BO2]. Purchase volume declined by 1% over the same time period.

* Credit remains high, but varies by locale: While average credit scores remained high across the board at 738, they varied widely among the top 20 metropolitan statistical areas (MSAs) by lock volume. The San Francisco-Oakland-Hayward MSA had the highest average credit score at 757, while Atlanta-Sandy Springs-Roswell, GA, had the lowest.

* Home prices drop for first time this year: The average home purchase price ended its five-month growth streak, dropping $1.5K, from $480.3K to $478.8K. MoM, the average loan amount declined by $300 to $374.2K.

The full June 2024 Market Advantage report provides more detailed findings and additional insights into U.S. mortgage market trends.

About the Market Advantage Report:

Formerly known as the Originations Market Monitor, Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE - the mortgage industry's most widely used product, pricing, and eligibility engine - the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders' pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes operate profitably and efficiently so they can fulfill the momentous role of helping American borrowers achieve the dream of homeownership, regardless of market dynamics. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between. To learn more, visit OptimalBlue.com.

Optimal Blue today released its June 2024 Market Advantage mortgage data report, which revealed a stagnant late-spring housing market as home prices dropped for the first time in 2024 and purchase lock counts fell 8% over the previous year. All mortgage lock figures in this news release have been controlled for fewer market days in June.

Related link: https://www2.optimalblue.com/

Direct Mail Benchmark Report 2024 reveals 61% of marketers have increased direct mail investments in the last year

MINNEAPOLIS, Minn. /ScoopCloud/ -- New industry research commissioned by SeQuel Response and conducted by ISG Research shows 61% of marketers have increased direct mail investments in the last year, up 12% from 2023 data.

The 2024 Direct Mail Marketing Benchmark Report provides an analysis of the current direct mail marketing landscape and its effectiveness, showcasing data collected from both B2B and B2C marketing leaders and consumers.

The full report is available at: https://www.sequeldm.com/directmailreport/.

Pouring dollars into channels lacking clear targeting and messaging leads to flat results. Marketers are now focusing on direct response strategies proven to effectively reach audiences through personalized and impactful interactions. Direct mail, with its track record of delivering high response rates and conversions, continues to be a reliable and high-performing marketing channel.

Insights from the report indicate that both marketers and consumers continue to view direct mail as a potent tool for fostering deeper connections and enriching experiences:

* Despite a drop in 2023 volumes, confidence in direct mail remains: direct mail is showing greater growth investments than all other direct response advertising channels.

* Even in a digital world, direct mail remains both relevant and impactful: 96% of respondents have experienced improved or consistent direct mail performance over the last year.

* Marketers are increasingly weaving direct mail into their omnichannel strategies: 90% of respondents report that integration positively impacts campaign performance.

* Direct mail fights digital ad fatigue: 72% of consumers engage with mail each week - up 3% from last year.

* The mail channel is a firm consumer favorite: direct mail is the second most enjoyable form of advertising (second only to TV/video streaming).

About SeQuel Response:

SeQuel Response is the go-to direct response advertising agency for growth-oriented consumer brands looking to launch and rapidly scale their direct mail and digital marketing campaigns. SeQuel's commitment to investing in clients' success and shaping the future of direct response marketing continues to deliver exceptional results and position the agency as an industry leader. SeQuel is ranked as a top marketing agency in Minneapolis, Minnesota and has been named to the Inc. 5000 list of fastest growing private companies in the U.S.

Learn more at: https://www.sequeldm.com/.

MULTIMEDIA:

Image link for media: https://www.sequeldm.com/wp-content/uploads/2024/07/2024-Report-Cover-Image.png

Image caption: 2024 Direct Mail Marketing Benchmark Report.

New industry research commissioned by SeQuel Response and conducted by ISG Research shows 61% of marketers have increased direct mail investments in the last year, up 12% from 2023 data. The 2024 Direct Mail Marketing Benchmark Report provides an analysis of the current direct mail marketing landscape.

Related link: https://www.sequeldm.com/

New Industrial Manufacturing Projects Third Month in a Row of Growth with 164 New Projects for June 2024

JACKSONVILLE BEACH, Fla. /ScoopCloud/ -- Industrial SalesLeads announced today the June 2024 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 164 new projects as compared to 147 in May and 110 in April.

The following are selected highlights on new Industrial Manufacturing industry construction news.

Industrial Manufacturing - By Project Type

* Manufacturing/Production Facilities - 148 New Projects

* Distribution and Industrial Warehouse - 98 New Projects

Industrial Manufacturing - By Project Scope/Activity

* New Construction - 45 New Projects

* Expansion - 58 New Projects

* Renovations/Equipment Upgrades - 67 New Projects

* Plant Closings - 17 New Projects

Industrial Manufacturing - By Project Location (Top 10 States)
* Indiana - 13
* Ohio - 11
* Tennessee - 10
* North Carolina - 9
* Ontario - 8
* Florida - 7
* California - 6
* Georgia - 6
* Illinois - 6
* Texas - 5

LARGEST PLANNED PROJECT

During the month of June, our research team identified 11 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Eli Lilly & Company, who is planning to invest $5 billion for an expansion of their processing facility in LEBANON, IN. They are currently seeking approval for the project. Completion is slated for 2028.

Top 10 Tracked Industrial Manufacturing Projects

MISSISSIPPI:

EV battery mfr. is planning to invest $2 billion for the construction of a manufacturing facility in MARSHALL COUNTY, MS. They have recently received approval for the project. Completion is slated for 2027.

NORTH CAROLINA:

Pharmaceutical company is planning to invest $1.5 billion for the expansion of their processing facility in CLAYTON, NC. They are currently seeking approval for the project.

ALABAMA:

Automotive mfr. is planning to invest $282 million for the expansion of their manufacturing facility in HUNTSVILLE, AL. They are currently seeking approval for the project.

QUEBEC:

Trailer mfr. is planning to invest $170 million for the expansion, renovation, and equipment upgrades on their manufacturing facility in SAINT-GEORGES, QC. They are currently seeking approval for the project.

FLORIDA:

Aircraft mfr. is planning to invest $135 million for the construction of a laboratory, manufacturing, and testing facility in JACKSONVILLE, FL. They are currently seeking approval for the project.

TEXAS:

Steel company is planning to invest $110 million for the renovation and equipment upgrades on their manufacturing facility in BAYTOWN, TX. They are currently seeking approval for the project.

NEW YORK:

Pharmaceutical company is planning to invest $106 million for a 43,000 sf expansion, renovations, and equipment upgrades on their processing and warehouse facility in ROCHESTER, NY. They are currently seeking approval for the project.

KENTUCKY:

Aluminum product mfr. is planning to invest $85 million for the expansion of their manufacturing facility in HENDERSON, KY by 80,000 sf. They have recently received approval for the project. Completion is slated for 2026.

WISCONSIN:

Biotechnology company is planning to invest $75 million for a 50,000 sf expansion and equipment upgrades on their processing facility in MILWAUKEE, WI. They are currently seeking approval for the project. Construction is expected to start in Summer 2024, with completion slated for Summer 2026

MISSISSIPPI:

Defense technology company is planning to invest $75 million for the expansion of their manufacturing facility in MCHENRY, MS. They have recently received approval for the project.

About Industrial SalesLeads, Inc.:

Since 1959, Industrial SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at https://www.salesleadsinc.com/.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

* Industrial Manufacturing
* Plastics
* Food and Beverage
* Metals
* Power Generation
* Pulp Paper and Wood
* Oil and Gas
* Mining and Aggregates
* Chemical
* Research and Development
* Distribution and Supply Chain
* Pipelines
* Pharmaceutical
* Misc. Industrial Buildings
* Waste Water Treatment
* Data Centers

Learn more: https://www.salesleadsinc.com/industry/industrial-manufacturing/

Industrial SalesLeads announced today the June 2024 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 164 new projects as compared to 147 in May and 110 in April.

Related link: https://www.salesleadsinc.com/