Housing market faces headwinds as mortgage rates move above 7%

Monmouthshire Building Society reported lower new mortgage lending in its latest financial year after temporarily withdrawing from new originations to support the implementation of a new mortgage platform. Gross new lending fell from £219m in 2025 to £197m in 2026, while total mortgage assets declined slightly from £1.38bn to £1.36bn. Underlying profit before tax…

Walk around New York and you might wonder why some blocks have little or no housing despite tremendous demand for it. You have to connect the dots. At the Arrow Linen site, a Brooklyn Council member is seeking applicants for a task force to monitor construction of 250 apartments. Um, what construction? Apex Development received…

Key insight: Consumers prefer biller channels over banks to pay bills.  What’s at stake: Banks risk losing part of their consumer relationships.  Forward look: The data highlights for banks how important it is to reinforce with consumers the benefits of debit to pay bills, Ron Shultz, general manager of ACI Speedpay, told American Banker.  Debit…

Indoor pickleball club operator Goodland Pickleball has secured two new club locations in New York City, Commercial Observer has learned.  The long-term leases span a total of 30,100 square feet within Class A buildings in Williamsburg, Brooklyn, and Rego Park, Queens. Goodland, which secured its first indoor New York City club in Brooklyn’s Greenpoint neighborhood…

Intercontinental Exchange, Inc. has published the June 2026 ICE First Look report, which examines trends in mortgage delinquency, foreclosure, and prepayment. The analysis revealed that early-stage delinquencies continued to be low as new default activity decreased. Significantly, new FHA defaults experienced their most substantial annual decline in over four years. Key Findings from the June…

The popular default investments may need to be more aggressive in order to fund decades of retirement.