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The Week Ahead: What the Latest Housing Data Will Tell Us

The June 2017 edition of Housing Finance at a Glance will release Wednesday during a phone conference by the Urban Institute. In the last release, Urban Institute reported that originator profitability measure fell to it’s lowest since 2016 and first-time homebuyer share of GSE purchase loans reached its highest level in history in February 2017 standing at 47.1 percent, up from 38 percent in 2012.

Total serious delinquencies resumed decline in Q1 2017 after the seasonal uptick in Q4 of 2016. Despite rising house prices and worsened affordability, increased first time home buying share occurred. However, first-time homebuyers are typically less creditworthy than repeat buyers and therefore more likely to be affected by the tight credit environment Urban Institute reported seeing in the last report.

More First-time homebuyer share increases were reported to be expected in the face of improving economy, falling unemployment, and rising household formation and incomes. Urban Institute cited the Census Bureau’s report that 854,000 new-owner households were formed in Q1 2017, which was more than double the 365,000 renter households created in the same period.

The Urban Institute said in their last report that credit availability through FHA has worsened in recent years and kept many prospective homebuyers from being able to obtain a mortgage.

We will see if the positive trends in household formation and construction activity continued in next weeks Wednesday report. To register for the call, click here.

 

This Weeks Schedule:

Case-Shiller U.S. Home Prices, Tuesday 9 a.m. EST

MBA Mortgage Applications, Wednesday 7 a.m. EST

May Pending Home Sales Index, Wednesday 10 a.m. EST

Freddie Mac Weekly Mortgage Survey, Thursday 10 a.m. EST

FHFA House Price Index, Thursday 9 a.m. EST

About Author: Brianna Gilpin

Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. To contact Gilpin, email brianna.gilpin@thefivestar.com.
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