The Forbearance Period is Ending: What’s the Impact on Foreclosures, House Prices, Supply, and Homeownership?
Foreclosures will likely widen the already alarming homeownership gap among income groups and racial groups, with low income and minority groups twice as likely to face foreclosure than higher income and non-minority groups and homeowners of FHA-insured loans three times as likely to face foreclosure. www.nar.realtor – Research
MBS RECAP: Small, Defensive Shift Heading Into The Weekend
Posted To: MBS Commentary Small, Defensive Shift Heading Into The Weekend The highest core inflation in decades proved to be no big deal this morning. In fact, bonds rallied. Unfortunately, that set up for a technical selling opportunity as traders pared long positions heading into the weekend. The selling stalled right at the 1.53% technical […]
Mortgage Rates Are Actually LOWER This Week
Mortgage rates hit their lowest levels in a week yesterday and are sideways to slightly lower today, depending on the lender. These facts are not well represented in the news today, where you’re more likely to see stories about rates being much higher this week. What’s up with the discrepancy? As is often the case […]
Biden Appoints New FHFA Director; Rates Are Actually Lower This Week
The White House didn’t waste any time after a Supreme Court ruling allowed it to do so, removing Mark Calabria as Director of the Federal Housing Finance Agency (FHFA) late Wednesday. Earlier that day the Court had released their 7-2 ruling that the inability to remove the agency director during a five year term except […]
May 2021 Existing-Home Sales Down for Fourth Straight Month as Home Prices Hit Historic High
Existing-home sales data show that housing market activity in May 2021 fell 0.9% from April 2021, but rose 44.6% year-over-year. www.nar.realtor – Research
Wall Street is Loving Single Family Rentals
In 2010 it was viewed as a quick way to make a buck, but Wall Street’s investment in single-family rental housing soon became a distinct asset class and the pandemic has encouraged its expansion. While the inventory of available homes for sale has shrunk to historic lows, institutional investors are not only gobbling up existing […]
The Housing Conundrum
I’ve seen several housing booms and busts in my life. The biggest boom was the housing bubble in the mid-’00s, and the worst bust followed the bubble. Booms and bust have always been frequent in real estate. My Spidey senses are tingling again, however it isn’t obvious why this time – or what the outcome […]
Once-In-A-Generation Response Needed to Address Housing Supply Crisis
Response Needed to Address Housing Supply Crisis Decades of underinvestment and underbuilding have created a housing shortage requiring a concerted, long-term nationwide commitment to overcome. Media Contact: Wesley Shaw 202-383-1193 Transportation and Infrastructure, Fair Housing
Vacation Home Sales Surges During Pandemic
In 2020, vacation home sales rose by 16.4%, outpacing the 5.6% growth in total existing-home sales. www.nar.realtor – Research