MBA Newslinks Archive

“Rates continued to increase last week, given increasing evidence that the Fed and other central banks are more likely to raise rates given the pickup in economic growth in their respective economies.”–MBA Chief Economist Mike Fratantoni.

“MBA strongly supports efforts to improve liquidity in secondary markets for affordable housing preservation, manufactured housing and rural housing, and believes that such improvements hold the potential to benefit very low-, low- and moderate-income borrowers.” –MBA President and CEO David Stevens, CMB, in a letter to the Federal Housing Finance Agency on GSE “Duty to Serve” programs.

“MBA appreciates the CFPB’s efforts in amending the Know Before You Owe rule to address several significant questions that have been raised for some time by our industry. This is an extensive rule and we intend to review it closely with our members.”–MBA President David Stevens, CMB, in a statement following updates on the Know Before You Owe rule issued by the Consumer Financial Protection Bureau on Friday.

“We believe that this Administration has an opportunity to align fair lending policy with Supreme Court precedent and address constitutional concerns regarding the consideration of race in decision-making.”–From an MBA/trade group letter to Attorney General Jeff Sessions requesting a meeting to discuss federal fair lending policies.

“Purchase applications reached their highest level in two weeks based on ongoing strength in employment and other factors that contribute to a healthy housing market, such as consumer confidence and sentiment.” –MBA Associate Vice President of Economic Forecasting Joel Kan.

“For current homeowners, the strong run-up in prices has boosted home equity and, in some cases, spending. For renters and potential first-time homebuyers, it is not such a pretty picture. With price appreciation and rental inflation outstripping income growth, affordability is destined to become a bigger issue in most markets.”–CoreLogic President and CEO Frank Martell.

“That combination of accelerating home price growth and slowing wage growth, along with mortgage interest rates that are up nearly 50 basis points from a year ago, eroded home affordability nationwide to the lowest level in nearly nine years and pushed the highest share of markets beyond the threshold of normal affordability in nearly eight years.”–Daren Blomquist, senior vice president with ATTOM Data Solutions, Irvine, Calif.

“The American people rely on a housing finance system that enables them to rent a quality, affordable apartment, buy their first home or build a nest egg to pass on to their children. We owe it to them to proceed with the hard work of reform without delay.”–MBA President and CEO David Stevens, CMB, in testimony yesterday before the Senate Banking Committee.

“Millennials are already starting to set trends in the real estate industry. They are three times more likely than Baby Boomers to make an offer sight-unseen, and they’re more likely than older buyers and sellers to negotiate commission savings.”–Nela Richardson, Chief Economist with Redfin, Seattle.

“We’re seeing indications that entry level buyers continue to come into the market as jumbo borrowers looking at bigger homes step back.” –MBA Chief Economist Mike Fratantoni.