MBA Newslink Tuesday 10-1-19

“The millennial cohort has now entered the housing market in force and is already driving major changes in buying and selling patterns. Almost half of the millennials over 30 years old have bought a house in the last three years. These folks are increasingly looking to move out of urban centers in favor of the suburbs, which offers more privacy and a greener environment. Perhaps most significantly, almost 80% of all millennials are confident they will become homeowners in the future.”–Frank Martell, president and CEO of CoreLogic, Irvine, Calif.

MBA Newslink Monday 9-30-19

“Strong borrowing and lending, coupled with relatively low levels of loan maturities, are helping to boost the amount of commercial and multifamily mortgage debt outstanding. All four major capital sources increased their holdings during the quarter. With strong demand expected to continue, debt levels are likely to climb even more and end the year at a new high.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

MBA Newslink Friday 9-27-19

“The YIMBY Act will help communities recognize their own agency in the housing shortage and provide them with a framework for smarter policymaking. The bipartisan sponsorship of this bill demonstrates the congress’ commitment to innovative solutions to improve the lives of American families.”–From an MBA/trade group letter urging support for a House bill that would eliminate discriminatory land use policies and remove barriers that prevent production of housing.

MBA Newslink Thursday 9-26-19

“Borrowing and lending backed by multifamily rental properties set a new record in 2018, driven by strong property fundamentals, rising property values, low interest rates and strong demand from both borrowers and lenders. We’ve seen these trends continue throughout 2019 and expect multifamily borrowing and lending will rise again both this year and next.”–MBA Vice President of Commercial Research and Economics Jamie Woodwell.

MBA Newslink Wednesday 9-25-19

“The recent data on increased existing home sales and new residential construction points to the underlying strength in the purchase market this fall.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

MBA Newslink Tuesday 9-24-19

“The strong economy, low interest rates and liquid finance markets are all contributing to delinquency rates that are at or near record lows for commercial and multifamily mortgage loans. Despite uncertainty on many economic fronts, it is hard to identify factors that would dramatically change the delinquency rate picture in the near term.”–MBA Vice President of Commercial Research & Economics Jamie Woodwell.

MBA Newslink Monday 9-23-19

“Home sales are accelerating as buyers eat into a diminishing number of homes for sale. While these trends are to be expected given that mortgage rates have been declining since late last year, global economic uncertainty and talk of a looming recession in the U.S. are staving off many aspects of hot seller’s market–think bidding wars, fast sales and huge price escalations–at least for now.”–Redfin chief economist Daryl Fairweather.

MBA Newslink Friday 9-20-19

“We continue to support the overall efforts to accelerate [HUD’s] IT modernization and maximize the impact to the public and return on investment to taxpayers.”–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, in a letter to Senate Appropriations Committee leadership in support of the fiscal 2020 T-HUD appropriations bill.

MBA Newslink Thursday 9-19-19

“MBA appreciates the Bureau’s willingness to make changes to the Consumer Complaint Database so it will be a better resource for consumers and provide a more accurate depiction of industry performance. The changes announced today by Director [Kathy] Kraninger, and the work in the months ahead, will allow consumers to make better informed and educated decisions with the information the Bureau collects and publishes through its complaint portal.”–MBA President and CEO Robert Broeksmit, CMB, on the Consumer Financial Protection Bureau’s announcement of changes to its Consumer Complaint Database.

MBA Newslink Wednesday 9-18-19

“There’s a saying–when the tide goes out, you see who’s swimming naked. But fraudsters are not so easy to detect, and they’re not so easy to stop.”–Kyle Armstrong, Supervisory Special Agent with the Federal Bureau of Investigation.