“A strong labor market and a persistent housing shortage have continued to fuel a robust rental market. As of June, multifamily completions outpaced the prior two years, but demand remains high in the majority of markets allowing them to absorb most of the new supply.”–Freddie Mac Vice President of Multifamily Research and Modeling Steve Guggenmos.
MBA Newslinks Archive
MBA Newslink Friday 8-9-19
“As you recall, MBA opposed the inclusion of the language preference question in the URLA because of the customer relations issues the question would cause if lenders could not actually serve borrowers in their preferred language, and due to unresolved operational and legal questions raised by the language preference information. We greatly appreciate Director Mark Calabria’s willingness to revisit these concerns and resolve them effectively.”–MBA President and CEO Bob Broeksmit, CMB, on an announcement yesterday by the GSEs to delay implementation of the Uniform Residential Loan Application.
MBA Newslink Thursday 8-8-19
“Credit availability in July decreased overall, driven by declines in the conforming and government indices. Conditions tightened some for borrowers with high loan-to-value ratios and lower credit scores. One outlier was the Jumbo Index, which increased to its highest level since the inception of this survey in 2012.” –Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
MBA Newslink Wednesday 8-7-19
“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.
MBA Newslink Tuesday 8-6-19
“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.
MBA Newslink Monday 8-5-19
“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.
MBA Newslink Friday 8-2-19
“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.
MBA Newslink Thursday 8-1-19
“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.
MBA Newslink Wednesday 7-31-19
“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.
MBA Newslink Tuesday 7-30-19
“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.