NYMT has restructured its portfolio over the past two years to stop lending for multifamily properties and minimize funding of ground-up construction projects.
The share of mortgages in forbearance increased from 0.34% as of the end of September to 0.47% at the end of October, according to the Mortgage Bankers Association.
“There have been just two months in the past decade with fewer home sales [than in May 2024]: October 2023, when mortgage rates jumped to a 23-year high, and May 2020, when the onset of the pandemic brought the housing market to a halt and home sales to a record low,” Redfin said.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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