MBA Newslinks Archive

“For the first time this year, mortgage applications for new homes in April were lower than the same month a year ago. A relatively strong March may have pulled forward some applications from April, exacerbating the normal seasonal fall-off.”–MBA Vice President of Research and Economics Lynn Fisher.

“I have said repeatedly, and I want to reiterate, that these conservatorships are not sustainable and they need to end as soon as Congress can chart the way forward on housing finance reform.”–Federal Housing Finance Agency Director Mel Watt, in testimony yesterday before the Senate Banking Committee.

“Foreclosure activity continued to search for a new post-recession floor in April thanks in large part to the above-par performance of mortgages originated in the past seven years. Meanwhile we are seeing an elevated share of repeat foreclosures on homeowners who often fell into default several years ago but have not been able to avoid foreclosure despite the housing recovery.”
–Daren Blomquist, senior vice president with ATTOM Data Solutions, Irvine, Calif. 

“Continuing strength in the job market and improving consumer confidence drove overall purchase applications to increase last week. The index for purchase applications reached its highest level since the beginning of October 2015, which was the week prior to the implementation of the federal government’s Know Before You Owe rule.”–MBA Associate Vice President of Industry Surveys and Forecasting Joel Kan.

“We have already begun to see a shift in pricing momentum. As capital expands its opportunity set, this should create a ‘virtuous cycle’ of further price appreciation, reducing spreads where they have run in advance of fundamentals.”–Cushman & Wakefield Chief Economist Kevin Thorpe.

“You’re more likely to encounter a home in the U.S. that hasn’t recovered than has.”–Ralph McLaughlin, chief economist with Trulia, San Francisco.

“Keeping your head down will not prevent you from being shot, so it’s best to keep your head up so that you see the bullet coming. When you submerge your voice, you become irrelevant. When you are in an environment where everyone else is besieged by fear, you have clear vision; you have opportunity.”–Carla Harris, managing director and senior client advisor with Morgan Stanley, who keynoted the MBA mPower Luncheon at the MBA National Secondary Market Conference & Expo.

“Commercial real estate borrowing and lending started 2017 on much the same footing it ended 2016. Multifamily properties remain the key force behind overall originations trends, and the government-sponsored enterprises continue to drive multifamily originations. Matching broader investment themes, financing backed by industrial properties also picked up, while retail declined.”–MBA Vice President of Commercial Real Estate Research Jamie Woodwell.

“Millennials are now buying homes. They done what they’ve said-the graduated from college; they paid down some of their student loan debt; they’ve gotten married, albeit later than usual; and now they’re starting to buy homes.”–Fannie Mae Chief Economist Doug Duncan.

“We cannot let Washington ignore the warning signs again. Do not repeat the past. We have the power right now to protect our system. We must act now to ensure the stability of our homes, our neighborhoods and our economy. We have a duty, a responsibility to take the right preventative measures now to protect the entire system from fault line catastrophe. Stabilizing and securing the secondary market through appropriate reforms and protections, will provide the rock-solid foundation our economy so desperately needs.”–MBA President & CEO David Stevens, CMB.