MReport July 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

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64 | TH E M R EP O RT FINAL THOUGHTS Signs of Progress From housing starts, to mortgage performance, and employment, brighter days could be ahead for the housing market. "in the buying mood" Sam Khater, Chief Economist, Freddie Mac, said record low mortgage rates are luring prospective buyers back into the market. "turn may be on the way" First American's Deputy Chief Economist Odeta Kushi said promising numbers for housing starts and permits by the U.S. Census Bureau is a welcome sign for the housing market. "spectacular recovery" Lawrence Yun, Chief Economist, National Association of Realtors, said pending home sales are showing resiliency throughout this pandemic. "began ramping up" Fannie Mae's Chief Economist Doug Duncan said consumer sentiment is beginning to rise, as consumers view housing in a positive light. "strikingly strong" Rob Dietz, Chief Economist, the National Association of Homebuilder's said May's housing numbers, especially for residential construction, were welcome news after April saw more than 400,000 job lost.

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