This week’s top legislative and policy news from the Mortgage Bankers Association.
Category: News and Trends
Chart of the Week: Purchase Applications Payment Index for Selected States
As attendees from this year’s Annual Convention and Expo returned to their respective states, many messages are top of mind. One priority is supply and affordability.
BLS: Jobs Close to Flat in October
Total nonfarm payroll inched up by just 12,000 in October, and the unemployment rate was unchanged at 4.1%, per the U.S. Bureau of Labor Statistics.
Quote of the Day
“This continues a theme we have seen in recent months, where the labor market is not seeing large layoffs but instead an ongoing reduction in job openings and a reluctance by employers to add workers. That said, wage growth remained steady at a 4% annual rate.”
–MBA SVP and Chief Economist Mike Fratantoni, discussing Friday’s employment report
MBA NewsLink Talks Zoning with JLL Value & Risk Advisory’s Becky Gaston
Becky Gaston serves as National Practice Lead, Zoning, with JLL Value & Risk Advisory
TransUnion: Four in Five Homeowners Say Their Mortgage Payments Strain Their Finances
A new survey from TransUnion, Chicago, found that many consumers feel their mortgage payments are putting a strain on their household finances, and the prospect of falling interest rates has them ready to consider refinancing those loans.
Mohamed El-Erian: U.S. Economy in Better Shape Than Expected
DENVER–Economist Mohamed El-Erian discussed the global economic outlook during MBA’s Annual Convention & Expo Oct. 28, noting that the U.S. economy is in a better place than anticipated, especially given recession predictions over the past few years.
Young Homeowners More Likely Than Young Renters to Feel Financially Better Off, Redfin Finds
Around two-thirds of Millennial and Gen Z homeowners say they’re better off financially than they were four years ago, compared to just over half of Millennial and Gen Z renters, according to a new Redfin survey.
Earn Your Accredited Mortgage Professional (AMP) Designation
When you graduate from MBA Education’s School of Mortgage Banking, you become an Accredited Mortgage Professional–AMP.
Dealmaker: Greystone Provides $104M in Freddie Mac Financing for Two Multifamily Properties
Greystone provided $103.7 million in Freddie Mac Optigo loans to refinance two multifamily communities in Tamarac, Fla. and Birmingham, Ala.