Why There is Housing Weakness Hiding Behind Positive Job Numbers

Mortgage Professional America, Nov. 12, 2020–Dave Kitai
Joel Kan, associate vice president of economic & industry forecasting for the Mortgage Bankers Association (MBA), still sees positivity ahead for the job market, the economy, and the mortgage industry. He predicts moderate growth ahead on the purchase side and believes the refinance boom has been “the bright spot of the year.” At the same time, he noted the uneven nature of the recovery and tight housing supply as potential headwinds for the industry going forward.