MBA Newslinks Archive

“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.

“Pam is exceptional choice. Personally, I have worked with her for a number of years and she is exactly the kind of leader who will help support the secretary and also address the critical issues ahead for HUD. She has a well-informed understanding of the agency, and essential technical knowledge of the real-estate finance industry. I would encourage the Senate to move swiftly in confirming her nomination.”–MBA President and CEO David Stevens, CMB, on the Trump Administration’s nomination of Pamela Hughes Pantenaude as HUD Deputy Secretary.

“The lack of homes listed for sale is causing unadjusted house price growth to remain strong. Additionally, increasing interest rates are reducing consumer purchasing power. The result is a substantial year-over-year increase in the real price of homes.”–Mark Fleming, chief economist with First American Financial Corp., Santa Ana, Calif.

“As the rule currently stands, banks are hindered in their ability to provide this financing. Through clarification from legislation, they will be able to better meet the needs of their borrowers, contributing to the greater overall commercial real estate finance ecosystem.”–MBA Chairman Rodrigo López, CMB, on introduction yesterday of bipartisan legislation that clarifies and amends parts of Basel III high-volatility commercial real estate banking regulation.