What makes this different from a regular trade publication? The analysis is not only from reporters and newsmakers but from bloggers who have no agenda to the industry. It means you'll get objectivity on an industry that is trying to recover from the housing crisis of 2008.
At this moment, the mortgage market faces its greatest challenges:
- First-time homebuyers are struggling with student debt and low wages
- Qualified Mortgages (QM rules) are keeping debt-to-income ratios tight
- Housing affordability is an issue as home prices rise at a slower pace
- Shadow inventory is in question and homebuilders are not building
- Income inequality is seeping into the housing market
- The 'Millenial' generation favors renting over owning a home
- The private label Mortgage Backed Securities market is a distant memory
- Owning a home means taking on debt in a debt averse nation
Even new home sales are dropping.
However, unemployment is at 6.1% (the U-6 number is 12.1%). While the wages for first-time homebuyers and their payments on student loans keep housing sluggish, real estate investors (buy to rent) and all-cash buyers that moved the market last year are dropping off.
The Mortgage Business Report is not about "doom and gloom." We will make our best efforts to keep the housing and mortgage market outlook as objective as possible. Interest rates remain remarkably low and some mortgage companies are in locations that still have strong employment numbers.
So let's get started. Have a great day and enjoy our new publication--The Mortgage Business Report!
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