“The housing market continues to experience the release of unrealized pent-up demand from earlier this spring, as well as a gradual improvement in consumer confidence.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
Category: News and Trends
Veros: Michigan Dam Disaster Cost More than $3.6 Billion
The May 20 dam breaks caused unprecedented damage and flooding in four Michigan counties. Throw in the coronavirus pandemic and you have a disaster unique in scope—and we’re only halfway through 2020.
NAMMBA Town Hall: The COLOR of COVID June 19
NAMMBA hosts a special state of the industry town hall series, The COLOR of COVID, this Friday, June 19, from 1:00-4:00 p.m. ET.
CoreLogic: Pandemic Hits Single-Family Rent Prices
CoreLogic, Irvine, Calif., said single-family rent growth slowed to its lowest level in years during April as unemployment reached its highest level in 80 years.
Industry Briefs June 16, 2020
To help limited English proficiency borrowers who are experiencing mortgage-related difficulties due to the coronavirus national emergency, the Federal Housing Finance Agency added new translations to the Mortgage Translations website. Site visitors can now choose English, Spanish, traditional Chinese, Vietnamese, Korean, or Tagalog when accessing scripts that servicers use when discussing COVID-19 forbearance with borrowers.
Homeownership Month Roundtable: How Lenders are Adapting to Shifting Sands
June is Homeownership Month in a year unlike any other. MBA NewsLink asked executives of four lenders to discuss how the coronavirus has affected their business and what they are doing to adapt and succeed.
Dealmaker: JLL Arranges $368M for Office, Multifamily
JLL Capital Markets, Chicago, arranged $367.6 million to refinance a four-building office campus and five multifamily properties.
June Builder Confidence Surges Following Shaky Spring
Two months ago, the National Association of Home Builders/Wells Fargo Housing Market Index suffered its biggest one-month drop in history, falling by more than 40 points to an eight-year low. This month, the Index rebounded back into positive territory.
Record-Low Interest Rates Spur Mortgage Applications in MBA Weekly Survey
Mortgage applications increased for the second straight week–and purchase applications increased for the ninth consecutive week–as key interest rates fell to record lows, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending June 12.
MBA Education Path to Diversity Scholar Profile: Ashley Duffy
(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.)