MBA Newslinks Archive

“Susan [Stewart] is the epitome of an inspirational leader. She has a proven track record of success at SWBC Mortgage; is a trusted voice and a thought leader within MBA; and volunteers her time and capital to philanthropic causes, including MBA Opens Doors Foundation.”–MBA President and CEO Robert D. Broeksmit, CMB.

“The rate cut was clearly telegraphed in advance, and was fully priced into mortgage rates. However, the Fed continues to try to interpret conflicting signals from the economic data. Globally, growth continues to weaken, as trade tensions persist. On the other hand, in the U.S., job market and consumer spending data remain strong, and inflation ticked up a bit in June.”–Mortgage Bankers Association Chief Economist Mike Fratantoni.

“While purchase activity was still up 6 percent from a year ago, the index has now decreased for three straight weeks and reached its lowest point since March. Despite healthy demand, inadequate supply levels continue to hold back some would-be buyers.”–MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.

“Solid real estate investor demand and a limited supply of distressed properties continues to push average prices up in most parts of the country. Even in areas with decreasing prices, the decrease can often be explained with a shift in the type of inventory being sold at auction.”–Ali Haralson, Chief Business Development Officer with Auction.com, Irvine, Calif.

“The second quarter results point to resilience from the household sector, despite signs of slowing growth in other parts of the economy and elsewhere in the world, and continues to be supported by job growth and low unemployment. We expect that this will also support moderate growth in the home purchase market in the coming months, especially for first-time home buyers and younger home buyers entering prime home ownership ages.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

“The national mortgage market readjusting away from the Patch can facilitate a more transparent, level playing field that ultimately benefits consumers through stronger consumer protection.”–Consumer Financial Protection Bureau Director Kathleen Kraninger.

“Increasing diversity and inclusion in our industry isn’t just the right thing to do, it is imperative to the future of a safe and robust housing system. The demographics of the country are changing, and MBA’s member companies are committed to changing with it to ensure that they can effectively serve all their customers and the market at large.”–Lisa Haynes, MBA Senior Vice President, CFO and Chief Diversity Office, on a partnership with Fannie Mae to promote opportunities for entry-level professionals.

“Refinance activity was lower, but we did see government refinance applications increase, driven solely by a 12 percent rise in FHA applications. Mortgage rates right now are comparable to the average rate of 4.10 percent for June, but refinances last week were 7 percent lower than last month. This is an indication that as we see rates lower for longer, borrowers need more of a drop in rates to consider refinancing.”–MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.

“Today’s announcement is not the end of our efforts to make sure consumers’ sensitive personal information is safe and secure. The incident at Equifax underscores the evolving cyber security threats confronting both private and government computer systems and actions they must take to shield the personal information of consumers. Too much is at stake for the financial security of the American people to make these protections anything less than a top priority.”–Consumer Financial Protection Bureau Director Kathy Kraninger.

“Record prices appear to have kept June sales figures from topping a strong May. Nevertheless, there are indications, including the return of very favorable mortgage rates, that the pace could pick up in July. Several encouraging longer-term trends-ongoing demand, improving inventory levels, low interest rates–are helping the market make incremental progress on multiple fronts. But supply remains a concern, so we need more homes to be built.”–Adam Contos, CEO of RE/MAX, Denver.