The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Politics & Money

Average U.S. salary reaches record high

Income gains provide support for housing market

The average annual U.S. salary for full-time workers rose to a record high of $69,181 in November, according to the Federal Reserve Bank of New York.

That’s up 3.4% from the from $66,012 a year earlier, according to the bank’s Labor Market Survey.

Income gains are picking up steam in a job market that’s the strongest in five decades, providing support for real estate demand by making it easier for buyers to qualify for mortgages. The jobless rate was 3.5% in November, matching the September measure that was the lowest since 1969.

Employers are being forced to pay more as they competed to retain workers. The share of people who expected a job offer in the next four months rose to 37%. About 19% of those workers said they expected two or more job offers during that period.

“We have seen a strong positive trend in real median annual household income over the past several years, which is encouraging,” said Gordon Green of Sentier Research. “But, the course of inflation over the coming months and years will be critical.”

In other words, when prices for food and other necessities rise, it erodes the power of income gains. Inflation should remain muted in 2020, according to a forecast from the Securities Industry and Financial Markets Association.

The SIFMA forecast projected a gain of 2.2% in the Federal Reserve’s preferred gauge known as “core PCE.” That’s the government’s measure of Personal Consumption Expenditures minus volatile food and energy prices.

Average hourly earnings probably will rise 3.2% in 2020, compared with a gain of 3.1% in 2019, the SIFMA forecast said.

The average U.S. unemployment rate probably will rise to 3.8% in 2020 from 3.7% in 2019, Fannie Mae said in a forecast earlier this month. That would make 2019 the lowest annual average since 1969, and 2020 would be the second-lowest.

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3d rendering of a row of luxury townhouses along a street

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