“Potential sellers are likely correct that home prices have yet to reach their peak, but in the long run prices tend to rise, so there’s no clear ‘right time’ to sell. Homeowners who feel life is uncertain right now may think they can still get a strong price if they delay selling until they have more clarity. The catch is that waiting to sell may raise the cost of a trade-up.”
–Zillow senior economist Jeff Tucker.
In this edition of the MBA NewsLink Housing Market Roundup, we look at the latest FHFA Strategic Plan; how consumers are altering their home buying and home selling plans during the coronavirus pandemic; why housing affordability might be at a “tipping point;” how the coronavirus is driving down inventories; and how political preferences are having an effect on where people choose to live–or even stay in America.
CBRE, Los Angeles, said the COVID-19 pandemic has accelerated the U.S. life sciences industry’s momentum, particularly amid the race to produce a vaccine and other medicines.
With the 30-year fixed mortgage rate sitting smack on 3 percent, mortgage seekers got the message, sparking an increase in mortgage applications last week, the Mortgage Bankers Association reported this morning.
S&P Dow Jones Indices, New York said its S&P CoreLogic Case-Shiller Indices showed home prices continue to increase at a modest rate across the U.S., rising by 5.7 percent annually in August.
Alliant Credit Union, Chicago, closed four loans totaling $46.6 million for self-storage and industrial properties in Michigan, South Carolina and Florida.
The Conference Board, New York, said its Consumer Confidence Index declined slightly in October, following a sharp September increase.
The past 20 years in the mortgage industry have been full of change, innovation and most importantly, lessons to be learned. Even in just the past few months, mortgage lenders have had to completely transform their business processes in the wake of the COVID-19 crisis. As the industry continues to prepare for what’s next, it’s important to take a look back at how far the industry has actually come.
The Mortgage Bankers Association has issued a Call for Speakers for two important upcoming MBA conferences: the MBA Independent Mortgage Bankers Conference 2021 (January) and the MBA Servicing Solutions Conference & Expo (February). Deadline for speaker submissions is Monday, Nov. 2.
Banking and lending organizations with superior digital assets will create disruptive customer experiences and insights. They will be the sharks seeking the distressed institutions as 2021 arrives. Digital leverage has become a currency for innovative firms seeking larger markets, margins, and non-organic growth multipliers made singularly possible by their post-deal integrations skills and capabilities.
