The rate of U.S. home-price appreciation continues to be driven higher by a combination of strong demand for housing and record-low housing inventory for sale. The Federal Housing Finance Agency’s most recent release showed the fourth quarter saw annual home-price growth of 10.9 percent –the strongest annual change on record. The previous high was an increase of 10.7 percent in third quarter 2005.
Category: News and Trends
February Sees Strong 379K Job Gain
Employers added an impressive 379,000 jobs last month, the Bureau of Labor Statistics reported Friday, welcome news for an economy still struggling with the loss of millions of jobs resulting from the coronavirus pandemic.
Optimism Rises Among CRE Capital Sources
Capital sources are growing more bullish about the commercial real estate outlook, reported Marcus & Millichap, Calabasas, Calif.
Dealmaker: JLL Income Property Trust Acquires Life Sciences Facility for $47M
JLL Income Property Trust, Chicago, acquired 170 Park Avenue, a 147,000-square-foot life sciences building in Florham Park, N.J.
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“All in, this report is strongly positive for the broader economy’s growth prospects over the next several months. We have been expecting a burst of activity from pent-up demand as the vaccine rollout continues. This may be the first sign of that increase. Higher employment will support a very strong spring housing market, while somewhat higher mortgage rates will continue to slow refinance activity.”
–MBA Chief Economist Mike Fratantoni, on Friday’s unemployment report from the Bureau of Labor Statistics.
MISMO Seeks Public Comment on Life of Loan Product, Commercial Appraisal Dataset
MISMO® announced Thursday it is seeking public comment on the MISMO Life of Loan Business Model and MISMO Engineering Guidelines (MEG) 3 and 6. The 60-day public comment period for MISMO Life of Loan Version 2020.12 runs through April 23.
Nicole Berg: 10 Skills You Need to Move from Processor to Underwriter
There is more to being an underwriter than learning guidelines. Based on my experience managing people moving from processor to underwriter, there are hard and soft skills you need before you can transition from Processor to Underwriter.
Joe Murin of JJAM Financial Services on the Future of the Housing Market—and the GSEs
Joe Murin is Chairman of JJAM Financial Services, Pittsburgh, Pa., which he founded in 2014. He previously served as Chairman of Chrysalis Holdings LLC and as CEO of ANC Holdings LP. Before that, he was Vice Chairman of The Collingwood Group and served as President of Ginnie Mae during the Obama Administration.
People in the News Mar. 8 2021
TIAA, New York, named Thasunda Brown Duckett to succeed Roger W. Ferguson Jr. as President and CEO.
Combating Real Estate Financial Crimes
The Bank Secrecy Act and Anti-Money Laundering Act remain a top priority for bank regulators. Virtually all large U.S. banks are or recently have been under enforcement actions for BSA/AML violations.