Genworth Survey: Industry executives cite rising interest rates, affordable housing supply as the biggest obstacles facing the housing market in 2019
Genworth Financial Inc (GNW)
Last genworth financial inc earnings: 10/29 05:10 pm
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Source: PR Newswire
RICHMOND, Va., Nov. 6, 2018 /PRNewswire/ -- Fifty-four percent of mortgage industry professionals identified rising interest rates as the greatest obstacle facing the housing market in 2019, according to a recent survey executed by Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. (NYSE: GNW). The next highest-ranked obstacles were a lack of affordable housing supply (37 percent), GSE reform (seven percent) and the pending expiration of the Qualified Mortgage patch (two percent) according to the survey, which polled 203 mortgage industry executives at the 2018 Mortgage Bankers Association Annual Convention and Expo. When looking specifically at the first-time homebuyer demographic, a majority (58 percent) of those surveyed cited the sparse availability of affordable housing as the most impactful obstacle to those trying to enter the housing market. Additionally, lack of consumer knowledge about the homebuying process (20 percent) is seen as a barrier to ent
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