“It’s going to be a tough home-buying market this spring, especially for first-time buyers or even people looking to move up into a slightly more expensive home. To stand out in a competitive market, buyers should get pre-approved for a loan, find an agent who has experience with bidding wars and consider coming in at the asking price, so the seller knows they’re serious.”–Zillow Chief Economist Svenja Gudell.
MBA Newslinks Archive
MBA Newslink Monday 4-25-16
“The lack of stability and strength engendered by eliminating the GSEs’ capital buffer has particularly serious consequences for the residents of underserved markets across the country. The GSEs are the largest participants in the mortgage market today. Yet, they are unable to make the types of investments in affordable housing and underserved areas that they once did prior to conservatorship.” –From a draft letter by Rep. Mike Capuano, D-Mass., concerning the future of Fannie Mae and Freddie Mac.
MBA Newslink Friday 4-22-16
“Home sellers in many markets are now seeing average price gains close to or above what home sellers experienced during the last housing boom. That should encourage more homeowners to take advantage of the prime seller’s market and list their homes for sale this year. Banks are already taking advantage of that market as evidenced by the uptick in the distressed sales share over the last two quarters.”
–RealtyTrac Senior Vice President Daren Blomquist.
MBA Newslink Thursday 4-21-16
“We look for existing home sales to rise roughly 4 percent by year-end 2016 as low mortgage rates and strengthening employment conditions are likely to support sales in the coming quarters.”
–Mark Vitner, Senior Economist with Wells Fargo Securities, Charlotte, N.C.
MBA Newslink Wednesday 4-20-16
“Conventional loan applications were up slightly this week while rates showed little change. However, although incoming economic data were muddled and the retail sales report was relatively weak, rates and stock markets rose through the week.”
–MBA Chief Economist Mike Fratantoni
MBA Newslink Tuesday 4-19-16
“The spring housing market appears to be on solid ground amid continually improving labor market and rising home sales. Psychologically and economically, people prefer to buy homes when prices are rising than when they are falling, so a continued recovery of home prices is encouraging to both first-time and trade-up buyers.”
–Yanling Mayer, housing economist and director of research with FNC, Oxford, Miss.
MBA Newslink Monday 4-18-16
“Non-foreclosure solutions outpaced foreclosure sales by more than a three to one margin in the month of February. This has been a fairly steady trend for the past year and illustrates the availability of various long-term and short-term solutions that benefit homeowners.
–HOPE NOW Executive Director Erik Selk.
MBA Newslink Friday 4-15-16
“FHFA has a difficult challenge in trying to help underwater homeowners in some of the markets that are still struggling, as they need to balance the moral hazard risk, identify loans that do not add risk to the GSEs or the communities involved, and focus on borrowers that will have the best chance to stay current. FHFA’s program design attempts to mitigate some of these concerns and the result is a narrow focus on lower loan balance and severely delinquent mortgages.”–Mortgage Bankers Association President and CEO David Stevens, CMB, on the Federal Housing Finance Agency’s announcement of a targeted principal reduction program for some mortgage borrowers.
MBA Newslink Thursday 4-14-16
“Rising prices for existing homes and a strong job market are making the math work for new construction.”–MBA Vice President of Research and Economics Lynn Fisher.
MBA Newslink Wednesday 4-13-16
“We gather today at a time of tremendous momentum. Unemployment has cut in half since 2009. And the housing market has served as key part of this.”
–HUD Secretary Julian Castro.