Most remodelers continue to express positive sentiment, but some report slowing activity, the NAHB/Westlake Royal Remodeling Market Index found.
Category: News and Trends
Chart of the Week: Average Wage Growth for Job Stayers Vs. Switchers
Given the current economic uncertainty, a lot of attention is being paid to the health of the labor market. Overall, it is fair to say that the job market is still healthy but continues to weaken. Based on the Bureau of Labor Statistics’ Employment Situation report, job growth came in at 147,000 in June, matching the average pace for the past year. The unemployment rate remained steady at 4.1%, but the participation rate dropped again, as workers continued to leave the workforce.
Joint Trades Press Statement on FHFA Announcement on Credit Scores
The Mortgage Bankers Association, American Bankers Association, Housing Policy Council and Structured Finance Association released a joint statement on the Federal Housing Finance Agency’s (FHFA) recent announcement on credit scores.
Autoagent’s Steven Pals on How Servicers Can Maintain Controls Amid CFPB Cutbacks
Steven Pals of Autoagent discusses what servicers should be thinking about in the current regulatory environment.
MBA’s Bob Broeksmit on the Numerous Real Estate Wins in Tax Package, Latest on Credit Reporting Costs
The Mortgage Bankers Association’s President and CEO Bob Broeksmit, CMB, released a video July 7 highlighting the pro-housing wins secured in the Republican-led tax and reconciliation that was passed last week and then signed into law by President Donald Trump.
Servicing Quote of the Week
“While the slowdown in home price growth may be easing affordability pressures, and negative equity volumes remain low, we’re beginning to see localized pockets of recent homebuyers becoming financially exposed.”
–Andy Walden, Head of Mortgage and Housing Market Research at ICE
ATTOM: Home Affordability Continues to Weaken Across Country
ATTOM, Irvine, Calif., released its U.S. Home Affordability Report for Q2, finding that in 99% of counties analyzed, median-priced single-family homes and condos were less affordable than historical averages.
VantageScore: May Mortgage Delinquencies Increase the Most Among Credit Products
Mortgage loans led an increase in early- and mid-stage delinquencies across all credit categories in May, according to new CreditGauge report from VantageScore, San Francisco, Calif.
Study Finds Disparate Credit Scores Can Cost Home Buyers
Mortgage Research Network, Columbia, Mo., released a new study finding that high-credit score buyers buying a home with a low-credit spouse could pay an average additional $63,000 over their average homeownership tenure.
Economy Adds 147,000 Jobs in June; Industry Economists Weigh In
Total nonfarm payroll increased by 147,000 in June, and the unemployment rate was 4.1%, the U.S. Bureau of Labor Statistics announced.