MBA Advocacy Update–Mar. 15, 2021
On Thursday, President Biden signed a $1.9 trillion COVID-19 stimulus bill with provisions to provide additional direct assistance to renters, homeowners, and businesses affected by the pandemic. On Wednesday, the Senate confirmed Marcia Fudge on a bipartisan basis to be the first woman to lead HUD in more than 40 years (and the second Black woman confirmed as Secretary).
Black Knight: Tappable Equity Skyrockets to Record High
A rising tide lifts all boats, the saying goes. And for the nation’s homeowners, home price growth—buoyed by scant housing inventories and historically low interest rates—created unprecedented tappable equity in 2020, said Black Knight, Jacksonville, Fla.
MBA Chart of the Week, Mar. 15, 2021: Share of Second Home & Investor Mortgages
This week’s MBA Chart of the Week captures the share of mortgage applications to purchase or refinance a second home or investment property.
Apartment Rents Jump at Fastest Rate in 2 Years
Apartment effective asking rents climbed 0.6 percent in February, the fastest single-month pace seen since the middle of 2019, reported RealPage, Richardson, Texas.
Industry Briefs Mar. 15, 2021
HUD approved a Conciliation Agreement between JPMorgan Chase Bank and a Black woman, resolving the woman’s claim that the mortgage lender, relying on an appraisal that she believed was inaccurate, valued her home at an amount lower than its actual worth because of her race.