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Robert Dietz says you can count him as among those who believe the geography of housing demand is being changed by the pandemic and the resulting recession. He also thinks some of the changes will endure beyond the dual crises. Dietz, chief economist of the National Association of Homebuilders (NAHB) says the changes aren't solely the result of what has happened this year, but a continuing evolution of the market due to already existing factors. "Declining housing affordability in high-density markets were due to limited resale inventory and insufficient levels of home building. The impact of COVID-19 on prospective home buyer concerns and preferences have accelerated these changes." He says, for example, that the virus itself is creating a competitive disadvantage for residences that require
Housing News
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Robert Dietz says you can count him as among those who believe the geography of housing demand is being changed by the pandemic and the resulting recession. He also thinks some of the changes will endure beyond the dual crises. Dietz, chief economist... (read more)
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Rob Chrisman
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If I were going to open up a store for eyeglasses, I’d make the sign in front of the building blurry. Lenders now don’t have to be so clever, as we’re in the midst of about the eighth “once-in-a-lifetime” mortgage market... (read more)
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Housing News
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Mortgage credit tightened again in September, reaching a second successive six-year low. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) dropped another 1.9 percent to 118.6. A decline in the MCAI indicates t... (read more)
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Mortgage Rate Watch
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The bond market, which drives interest rates, is in the habit of reacting to big developments that impact the economy and inflation. At present, bonds are forced to wait for several such developments, but only one of them might come into focus this m... (read more)
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Housing News
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The number of forbearance plans plunged last week as those that went into effect in the early days of the pandemic hit the end of their initial six-month terms. Black Knight said nearly one-fifth of the plans ended, as the number fell by 649,000 mort... (read more)
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MBS Commentary
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Bonds Start Strong After Playing Defense Last Week
Last week was clearly a defensive shift for the bond market. Yields asymptotically approached 0.79% but managed to find support at that technical ceili... (read more)
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