MBA Newslinks Archive

“Credit availability has generally increased in 2019 as lenders have worked to meet affordability challenges. Because mortgage rates have recently fallen and home price growth has decelerated in many markets, credit availability may stabilize at its current levels.”–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

“FHA can make changes to expand loan eligibility and encourage more servicer and investor participation.”–From an MBA/American Bankers Association letter to HUD outlining recommendations to improve its FHA Single-Family Loan Sale Program.

“With wage growth still not threatening inflation, the Fed will still likely cut rates in July. The rebound confirms that the jobs market is hardly crumbling, but there were a number of signs that the pace of labor market tightening has cooled.”–Sarah House, Senior Economist with Wells Fargo Securities, Charlotte, N.C., on Friday’s June jobs report.

“More house-buying power and expanded access to credit, along with a demographic tailwind from millennials aging into prime home-buying age, all bode well for housing market demand. The question is whether there are enough homes for sale to meet this surging demand.”–Odeta Kushi, Deputy Chief Economist with First American Financial Corp., Santa Ana, Calif.

“In continuation of the gradual growth trend seen throughout the first half of 2019, purchase activity was almost 10 percent higher than a year ago. A still-strong job market, improving affordability and lower mortgage rates continue to support growth.”–MBA Associate Vice President of Industry and Economic Forecasting Joel Kan.

“The recent and forecasted acceleration in home prices is a good and bad thing at the same time. Higher prices and a lack of affordable homes are two of the most challenging issues in housing today, and every buyer, seller and industry participant is being impacted. The long-term solution lies in expanding supply, which will require aggressive and effective collaboration between policy makers, state and local government entities and home builders.”–Frank Martell, president and CEO of CoreLogic, Irvine, Calif.

“Cities that have experienced aggressive population growth have struggled to build enough rental housing to meet the increased demand. The problem continues to get worse, and every year more very low-income families are forced to spend more of their income on housing.”Freddie Mac Vice President of Multifamily Research and Modeling Steve Guggenmos.

“New [commercial and multifamily] construction activity remains robust. Over the last year, construction has grown for multifamily, office and manufacturing space and declined for commercial/retail space.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“The importance of the Terrorism Risk Insurance Act of 2002 and subsequent reauthorizations to the American economy is directly relevant to MBA’s membership. A long-term extension of TRIA is vital to the health of the commercial and multifamily real estate finance sector and the nation as a whole.”–MBA Senior Vice President of Legislative and Political Affairs Bill Killmer, in a letter to Senate Banking Committee leadership in support of reauthorization of the Terrorism Risk Insurance Act.

“President Trump’s administration is to be commended for shining further light on the housing affordability challenges facing low-to-moderate-income Americans and the middle class. Housing affordability is an issue affecting millions of Americans, and we believe the public and private sectors must work together on solutions that ensure those looking to rent or buy a home are given every available opportunity. MBA looks forward to continuing to work with the administration and other stakeholders on this issue in order to strengthen communities throughout the country.”–MBA President and CEO Robert Broeksmit, CMB, on the Trump Administration’s Executive Order establishing a Council on Eliminating Barriers to Affordable Housing.