Despite high buyer traffic and strong demand, builder sentiment fell in March as rising lumber and other material prices pushed builder confidence lower, the National Association of Home Builders reported yesterday.
Category: News and Trends
Dealmaker: Blackstone, Starwood Capital Group to Acquire Extended Stay America
A Blackstone Real Estate Partners-Starwood Capital Group venture agreed to acquire Extended Stay America and its real estate investment trust ESH Hospitality for $19.50 per paired share in an all-cash transaction valued at nearly $6 billion.
MBA Weekly Applications Survey Mar. 17, 2021: Steady Rise in Rates Dampens Activity
Mortgage interest rates continued their slow but steady rise—reaching a nine-month high—putting a damper on refinance applications, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending March 12.
‘Quick Start’ for 2021 Single-Family Rent Growth
CoreLogic, Irvine, Calif., said single-family rent growth reached 3.8 percent year-over-year in January, up from a 2.9 percent annual increase a year ago.
Alan Parris: Using Digital Marketing to Build Relationships with the Next Big Home Buyer Generation
Today’s customers live online and expect relevant, personalized content and messaging that resonates with their individual wants and needs. That leaves plenty of opportunity for lenders to connect with this massive cohort by providing value and education.
MBA: Commercial/Multifamily Mortgage Debt Up 5.8 Percent in Fourth Quarter
Commercial/multifamily mortgage debt outstanding at the end of 2020 rose by $212 billion (5.8 percent) from the previous year, the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report said.
Sen. Toomey Issues Housing Finance Reform Principles
Sen. Pat Toomey, R-Pa., ranking member of the Senate Banking Committee, yesterday released a set of guiding principles for housing finance reform, a move welcomed by the Mortgage Bankers Association.
February New Home Applications Down 9% from January; Up 9.2% from Year Ago
The Mortgage Bankers Association Builder Applications Survey data for February show mortgage applications for new home purchases increased 9.2 percent from a year ago, but fell by 9 percent from January, unadjusted for typical seasonal patterns.
(Switching Gears) Nate Johnson: Will You Be Able to Transition Staff When the Market Shifts?
Are we looking at a downturn? Yes, but in my view, it’s not going to be significant enough to see a huge migration of people out of the mortgage industry. It will, however, require every organization to think hard about how to best use their personnel resources to come out ahead.
Quote
“Continuing the trend of previous quarters, growth in multifamily mortgage debt outpaced other property types, with increases in federally backed mortgages from Fannie Mae, Freddie Mac and FHA driving that growth. Strong appetites from all the major capital sources should keep growth going in 2021, but with key differences across property types.”
–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.