“When one door of happiness closes, another opens; but often we look so long at the closed door that we do not see the one which has opened for us.” — Helen Keller, author
Lender survey results suggest constrained credit box will continue
June 14, 2016 Ben Lane
A recent report from the Mortgage Bankers Association showed that mortgage credit availability is on the decline, with the Mortgage Credit Availability Index for May showing a decrease for the third straight month.
And a new report from Fannie Mae suggests there’s no light at the end of the tunnel for those who hope to see credit standards relaxed any time soon.
According to Fannie Mae’s second quarter 2016 Mortgage Lender Sentiment Survey, approximately 90% of the lenders surveyed said they have no plans to ease their credit standards for at least the next three months.
The survey, which is conducted by Fannie Mae and polls senior executives of its lending institution customers on a quarterly basis to assess their views and outlook across varied dimensions of the mortgage market, showed that lenders actually report a “net easing” of credit standards for all loan types over the last three months, but notes that the easing is “moderate.”
Fannie Mae’s survey showed that the lenders surveyed said that their expectations to ease standards during the next three months have gradually moved lower since the fourth quarter of 2015, with 90% of lenders expecting to keep their credit standards unchanged.
And for loans eligible for sale to Fannie Mae and Freddie Mac, the news is even bleaker, as only 4% of lenders on net expect to further ease credit standards on Fannie and Freddie loans within the next three months.
Additionally, Fannie Mae’s report showed that lenders said that they saw a “significant increase” in net demand growth for refinance mortgages across all loan types in the second quarter over the prior three months of the year, a likely outcome given thecontinued “historic lows” for mortgage interest rates.
But Fannie Mae’s survey showed that lenders think that the refinance demand is likely to drop for the rest of the year.
“Key survey sentiment indicators suggest that lenders remain cautiously optimistic in their market outlook,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
“The outlook for purchase demand growth over the next three months returned to levels similar to last year, while the outlook for refinance demand and profit margin improved moderately versus last year’s levels,” Duncan continued.
“Additionally, the trend toward easing of credit standards appears to be tapering off, as the vast majority of lenders, around 90%, reported plans to keep their credit standards about the same,” Duncan said. “The survey was conducted before the recent May jobs report, and the weaker reported job gains might potentially temper this optimism.”
FROM ME:
Are you ready to sell your Commercial Building in Phoenix – Maricopa County , please call me.
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Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Investment Properties in Phoenix / Tucson / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land in Phoenix / Tucson / Arizona. Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties.
I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international. Click here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
Are you ready to sell your Commercial Building in Phoenix – Maricopa County , please call me.
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Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix
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Interactive Metro Phoenix Map of New Apartment Construction by Completion Status
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4rd QTR 2015 GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER Kasten Long Commercial Group.
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Apartment Vacancy Rates – Greater Phoenix Area – 50+ Units (Stabilized) 2013, 2014, & 2015
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AZREIA Market Update | March 2016
Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
2016 Official Arizona Visitors Guide
http://walter-unger.com/why-phoenix-2/
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Timeline of Phoenix, Arizona history
http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history
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http://en.wikipedia.org/wiki/Phoenix,_Arizona
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Facts of Arizona – year 1848 to 2013
http://walter-unger.com/?p=9507
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
walterunger@ccim.net 1-520-975-5207
Check out my professional profile and connect with me on LinkedIn.
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http://www.easymapmaker.com/map/28cb3b8b3206c377a6f282d980dc7974
http://www.easymapmaker.com/map/955edc17e00b08ce270fb7afb1523cc2
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Click here for Map of Apartments for Sale (10+units)
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
2821 E. Camelback Rd. Suite 600
Phoenix , AZ 85016
Direct: 520-975-5207
Fax: 602-865-7461
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