What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Real Estate

September single-family housing starts reached highest level since 2007

Multifamily starts fell 16.4%

Single-family housing starts soared in September, a new report from the U.S. Census Bureau shows, despite an overall rate that was dragged down by a decline in multifamily starts.

Privately owned housing starts in September rose to an annual rate of 1.415 million, 1.9% above the revised August estimate of 1.388 million and 11.1% above the September 2019 rate of 1.274 million, the Bureau said. Single-family housing starts in September were at an annual rate of 1.108 million, which is 8.5% above the revised August figure of 1.021 million, and a level not seen since 2007, Doug Duncan, chief economist at Fannie Mae, said.

“While starts were up 10.4% from a year prior, the somewhat modest month-over-month change was due to largely offsetting trends in single-family and multifamily starts,” Duncan said. “The former rose 8.5% over the month to 1.1 million annualized units, a level not seen since 2007. In contrast, multifamily starts fell 16.4%, to one of the slowest monthly paces since 2013, not including this past April.”

Mortgage Bankers Association Senior Vice President and Chief Economist Mike Fratantoni noted that single-family permits jumped 24.3% from a year ago.

Builders are gearing up for an even faster pace in the months ahead, which is welcome news for households wanting to buy a new home,” Fratantoni said. “The housing market is being constrained by the lack of inventory, with both new and existing homes being sold faster than new listings are arriving.”

Borrowers want consistency through the lending process – Here’s how to give them that

Lenders need to be able to grow their business in a way that is not linear and is not tied to the market cycles – leveraging automation technology can help.

Presented by: Indecomm Global

Privately owned housing units authorized by building permits in September continued to rise as well, at an annual rate of 1.553 million, 5.2% above the revised August rate of 1.476 million and 8.1% above the September 2019 rate of 1.437 million.

Single-family authorizations in September were at a rate of 1.119 million, which is 7.8% above the revised August figure of 1.038 million.

“We expect the divergence between single-family and multifamily starts to continue,” Duncan said. “Low-interest rates, a tight supply of existing homes for sale, and a trend in some metro areas toward purchasing homes in suburban areas has led to strong demand for new single-family homes. Furthermore, this strong sales pace has gotten ahead of available units.”

“This persistent demand should be and largely is music to builders’ ears – a measure of homebuilder confidence hit a record high in September, and has since risen further – but instead of a consistent and strong acceleration in building activity, construction levels have settled into a pattern of more-modest growth,” Zillow Economist Matthew Speakman said. “The longstanding regulatory and supply-side constraints faced by builders are forcing them to be more selective in the projects they take on.”

Leave a comment

Most Popular Articles

FHFA extends forbearance period to 18 months

In an effort to protect homeowners, the FHFA extended forbearance coverage to 18 months and pushed the eviction and foreclosure moratorium to June 30.

Feb 25, 2021 By

Latest Articles

How lenders can prepare for growing fraud threats

HousingWire recently spoke with Jeffrey Morelli, general manager at Truework, about what lenders can do to prepare for and overcome the growing threat of fraud and data inaccuracy.

Feb 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please