“There’s still a ways to go before the housing market has recouped the lost activity of the past few months during the shutdowns.”
–Redfin lead economist Taylor Marr.
Category: News and Trends
Redfin: Housing Market Shows Signs of Rebounding from Coronavirus Shutdowns
Redfin, Seattle, said the housing market showed some early signs of recovery in May as inventory of homes for sale and contracts to buy homes both increased dramatically from April levels.
ARMCO: Year over Year Trends Show ‘Marked Improvement’ in Critical Defect Rates
ACES Risk Management, Denver, released its quarterly ARMCO Mortgage QC Trends Report, showing critical defect rates improved from the fourth quarter to the first and in 2019 overall.
STRATMOR: How Pandemic Reinforced ‘Three Immutable Laws’ of Economics
STRATMOR Group, Greenwood Village, Colo., said while the longer-term impact of the pandemic remains to be seen, the mortgage market has settled down, with most industry players appearing to have weathered the storm.
Ellie Mae: Refi Market Steady as Interest Rates Continue to Drop
Interest rates hit record lows last week—but they were already low in May, said Ellie Mae, Pleasanton, Calif., resulting in steady refinancing volume.
CBRE Forecasts Hotel Demand Recovery by Late 2022
After suffering the greatest performance declines in U.S. history, the nation’s hotels will likely benefit from a relatively rapid economic turnaround in 2021 and 2022, said CBRE Hotels, Atlanta.
MBA Education Path to Diversity Scholar Profile: Saket Nigam
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
Dealmaker: Cushman & Wakefield Closes $54M in Industrial, Retail
Cushman & Wakefield, Chicago, brokered industrial and retail transactions totaling $53.6 million in California and New Jersey.
Sherwood Lawrence: Does the LO Have a Future in the Digital Mortgage World?
The digital mortgage revolution doesn’t take sides, but that doesn’t mean there won’t be casualties. The march toward efficient loan transactions will permanently redefine the roles of the mortgage lender and loan officer, radically transforming the entire production line of mortgage origination.
The Week Ahead
Good morning! Happy first week of summer, which promises a lot of activity—and a heads-up for anyone who uses the Mortgage Bankers Association’s website.