MBA Newslinks Archive

“Prices of homes backed by FHA loans also accelerated higher in the wake of that last premium cut, although that premium cut occurred concurrently with a drop in mortgage rates, a scenario that is less likely this time around.”–Daren Blomquist, senior vice president with ATTOM Data Solutions, Irvine, Calif.

“Serious delinquency remains key indicator of positive market stability. HOPE NOW tracks those homeowners who are 60+ days delinquent and we have reported a steady total of just under 1.4 million borrowers in November. This is significant decrease from the nearly 2 million borrowers who were seriously delinquent just 24 months ago.”–HOPE NOW Executive Director Eric Selk.

“Saving enough cash for a down payment is a major barrier to homeownership, especially in expensive markets, where a 20 percent down payment can cost nearly $200,000.”–Zillow Chief Marketing Officer Jeremy Wacksman.

“We need to shore up our nation’s housing finance sector, and HUD plays a crucial role in the housing finance system through FHA and Ginnie Mae–helping borrowers with less than perfect credit or first-time homeowners get their toe in the door of a home they can call their own,” he said. “But credit to purchase a house has been constricted since the 2008 crash and many younger households have been held back from buying that first home. With the Fed raising rates recently, mortgages are likely to get more expensive.”
–Ben Carson, in testimony yesterday before the Senate Banking Committee.

“Dr. Carson has demonstrated throughout his career that he possesses the intellect to understand and respond to complex challenges. We believe he will put those talents to good use, helping strengthen America’s housing market, promoting the production of affordable rental housing and improving communities nationwide.”–MBA President and CEO David Stevens, CMB, in an MBA letter to the Senate Banking Committee ahead of Ben Carson’s nomination hearing this morning.

“Ten-year Treasury yields fell the week following New Year’s Day as markets continue to adjust their expectations about the incoming administration and Federal Reserve policy. This pulled the average mortgage rate down for the second week in a row, this time by 7 basis points.” –MBA Vice President of Research & Economics Lynn Fisher.

“The reduction in the premium is a result of our industry’s and FHA’s shared commitment to quality underwriting, and consumers will benefit as result. Reducing the cost of FHA loans benefits borrowers, but other changes to reduce uncertainty for lenders would be required to truly invigorate the FHA program.”
–MBA President and CEO David Stevens, CMB.

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“Continued job gains at a moderating pace, rising wages and the unemployment rate at full employment signal a tight labor market, noting the case for further Fed moves remains in place.”–John Silvia, chief economist with Wells Fargo Securities, Charlotte, N.C.

“Although we expect to see interest rates increasing and inflation ramping up, the overall labor market is expected to remain strong. These effects will essentially offset each other and allow the overall national forecast to remain strong.”–Eric Fox, vice president of statistical and economic modeling with Veros Real Estate Solutions, Santa Ana, Calif.

“Originators generally see borrowing and lending volumes growing slightly, with just over half expecting potential regulatory and legislative changes to be positive for the market. The survey paints expectations of a strong, steady market in 2017.”–MBA Vice President for Commercial Real Estate Research Jamie Woodwell.