MBA Newslinks Archive

“The Federal Reserve cut rates as expected last week, but the bigger influence on the financial markets was the beginning of a trade war with China. The result was a sharp drop in mortgage rates, which will likely draw many refinance borrowers into the market in the coming weeks.”–MBA Chief Economist Mike Fratantoni.

“The impact of climate change on the lives and pocketbooks of homeowners is closer than you think. For home buyers over the next few years, the impact of climate change will be felt within the span of their 30-year mortgage.”–Skylar Olsen, Zillow director of economic research and outreach.

“The consumer side of the economy looks healthy as job gains continue, prompting higher wages. However, there has been a hit to manufacturing from trade tensions, which has resulted in an economy that’s reliant on one engine to sustain the expansion, and that’s U.S. consumers.”–Odeta Kushi, Deputy Chief Economist with First American Financial Corp., Santa Ana, Calif.

“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.