News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Metrostudy Releases Q2 2014 Residential Remodeling Index (RRI) — Remodeling and Replacement Activity Posts Moderate Gains Through 2Q 2014, But Forecast Firms
Brad Hunter / Metrostudy / August 2014
For Immediate Release
WASHINGTON, D.C. (August 15, 2014) Metrostudy, a Hanley Wood company, announced today the release of its Second Quarter 2014 Residential Remodeling Index (RRI) detailing activity in the remodeling and replacement industry.
The index gained 4.3% in the second quarter, year-over-year, which follows a 6.5% year-over-year increase in the first quarter. Despite the moderation in growth rate, the RRI has posted ten consecutive quarterly improvements and eight consecutive year-over-year increases since the market bottomed at the end of 2011.
The slower growth paceRead More
Diana Olick / CNBC / April 4, 2014
More potential buyers are out trolling the nation’s neighborhoods for their dream homes. Unfortunately, they are finding little to look at and, even worse, they are finding higher prices than they expected.
“People quite frankly came out and got sticker shock because they’re coming out to shop now, or they came out in January and February to shop, and they picked up the price sheet and saw, ‘Wow that’s way more than I thought’ because home prices had gone up so much in 2013,” said Brad Hunter, chief economist at Metrostudy.
NAHB / Eye on Housing Blog / March 13, 2014
The future of the housing finance system is a key issue for the housing industry as well as the economic makeup of the middle class, given the importance that housing wealth and access to rental housing plays in our economy. These factors and the policies that shape them are of such significant importance that this topic has been selected as a primary issue for NAHB’s 2014 legislative conference, “Bringing Housing Home,”which takes place March 17-21 as home builders and other members of the residential construction industry meet federal lawmakers. As part of this event,Read More
Diana Olick / CNBC.com / January 15, 2013
Mortgage applications jumped sharply last week, as a weaker-than-expected December employment report sent interest rates lower.
Total application volume on a seasonally adjusted basis rose 11.9 percent on the week, according to the Mortgage Bankers Association. Applications to refinance rose 11 percent and applications to purchase a home increased 12 percent, both seasonally adjusted.
The average contract rate for 30-year fixed mortgages with conforming loan balances ($417,000 or less) dropped to 4.66 percent from 4.72 percent. Rates had been rising after the Federal Reserve announcedRead More
Les Christie / CNNMoney.com / December4, 2013
Beginning Jan. 10, banks have to ensure that monthly mortgage payments are affordable, a result of the Dodd Frank law passed in 2010. The failure to do so carries strict penalties.
“My concern is that we’re going to be in an environment where some lenders are too small to comply,” said David Stevens, CEO of the Mortgage Bankers Association.
During the housing bubble, some banks issued loans without even checking applicants’ income or assets.
Under the new rules, lenders must carefully determine that borrowers have the ability to repay their loans. That means, forRead More