A&D Market Digest for Week of 2/27/23

In this week’s A&D Market Digest, Head of Capital Markets Alexander Suslov discusses the impact of recent economic data released on the mortgage industry, including the jump in the PCE Price Index and treasuries and expectations for Jobless claims and the March 22 FOMC meeting. Then, Account Team Manager Mark Glaser kicks off a month-long series of looks at finding affordable markets in various parts of the United States. This week, we explore where you can find affordable homes in sunny Florida.

MARKET NEWS

• CNBC — Homebuilder sentiment in February sees biggest gain in decade.  Homebuilder confidence in the market for newly built single-family homes in February rose 7 points to 42, according to the National Association of Home Builders/Wells Fargo Housing Market Index. This is the highest reading since September and the largest monthly gain since June 2013. “
• SCOTSMAN GUUDE – The 40-Year Mortgage Gains Traction. “Given these circumstances, many would-be buyers are simply unable to afford the monthly payments that a traditional mortgage requires. In order to address this issue of home affordability, some lenders have begun offering 40-year mortgages as a way to help borrowers lower their monthly payments.”