GREENSBORO, NC – (BUSINESS WIRE) – October 21, 2021–
As strong demographics and a severe housing shortage have propelled U.S. home prices to record highs, affordability will become a barrier to further rapid price hikes, according to the fall edition of The Housing and Mortgage Market Review (HaMMR), published today by Arch Mortgage Insurance. Company (Arch MI), a leading provider of mortgage insurance.
The new issue is written by Parker Ross, who recently joined Arch Global Mortgage Group as Senior Vice President and Chief Economist.
âThe demand for housing has increased in response to the pandemic and is expected to remain strong for years to come as millennials age in their first few years of home buying,â Ross said. âThe rapid growth in home prices is the result of limited housing supply and record mortgage rates that have kept affordability roughly in line with its historical average. At the end of 2021 and next year, mortgage rates are set to rise and housing construction constraints are expected to be partially resolved, which in turn should moderate the pace of home price appreciation. . “
The Fall HaMMR also examines the key factors driving the current housing shortage and millennial housing demand, and investigates the widespread perception that the pandemic has caused an exodus from major US cities to suburbs and cities. suburbs.
- The Housing and Mortgage Market Review is published at archmi.com/hammr. The Fall 2021 issue assesses the likelihood that house prices will remain high through 2022 and beyond, with special features on housing shortage, housing demand for millennials, migration caused by pandemic and the five fastest growing cities that are still affordable for millennials.
- Parker Ross will host a housing webinar on October 28 at 1 p.m. ET, covering key HaMMR points and offering his take on the direction of housing in the United States. Registration is available at archmi.com/hammr.
About Arch Mortgage Insurance Company
Arch Capital Group Ltd.’s U.S. mortgage insurance business, Arch MI, is a leading provider of private insurance covering mortgage credit risk. Headquartered in Greensboro, NC, Arch MI’s mission is to protect lenders against credit risk, while extending the ability to responsibly access homeownership to qualified borrowers. Arch MI’s flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to purchase mortgage insurance in all 50 states, the District of Columbia and Puerto Rico. For more information, visit archmi.com.
Caution Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a âsafe harborâ for forward-looking statements. This press release or any other written or oral statement made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward-looking statements, which reflect our current views regarding future events and financial performance. All statements, other than statements of historical fact, included or incorporated by reference in this press release are forward-looking statements.
Forward-looking statements can generally be identified by the use of forward-looking terms such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe” or “continue” or their negative or variations or similar terminology. Forward-looking statements involve our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in such statements. A non-exclusive list of important factors that could cause actual results to differ materially from those shown in these forward-looking statements include the following: adverse general economic and market conditions; increased competition; price trends and policy terms; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; return on investments; loss of key personnel; the adequacy of the Company’s claims reserves, the severity and / or frequency of claims, higher than expected premium claim ratios and an unfavorable development in claim liabilities and / or claim costs; greater frequency or severity of unforeseeable natural and man-made catastrophic events , including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and / or tax laws in the United States or elsewhere; the Company’s ability to successfully integrate, establish and maintain operating procedures as well as to complete acquisitions and to integrate businesses that the Company has acquired or may acquire into existing operations; changes in accounting principles or policies; significant differences between actual and expected valuations for guarantee funds and mandatory pool agreements; the availability and cost to the Reinsurance Company to manage the Company’s gross and net exposures; non-compliance by third parties with their obligations towards the Company; changes in the method of determining the London Interbank Offered Rate (“LIBOR”) and the potential replacement of LIBOR and other factors identified in documents filed by the Company with the Securities and Exchange Commission (“SEC”) of United States.
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other caveats which are included in this document or elsewhere. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
ARCHÂ® MORTGAGE INSURANCE COMPANY | 230 NORTH ELM STREET GREENSBORO NC 27401 | ARCHMI.COM
Â© 2021 Arch Mortgage Insurance Company. All rights reserved. Arch MI is a marketing term for Arch Mortgage Insurance Company and United Guaranty Residential Insurance Company. Arch Mortgage Insurance Company and The Housing and Mortgage Market Review are registered trademarks of Arch Capital Group (US) Inc. or its affiliates. HaMMR is a service mark of Arch Capital Group (US) Inc. or its affiliates.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211021005987/en/
CONTACT: Arch Capital Services LLC
Greg LiÃ¨vre, 336-333-0416
Sara Larsen, 832-233-0370
KEYWORD: NORTH CAROLINA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL INSURANCE SERVICES
SOURCE: Arch Mortgage Insurance Company
Copyright Business Wire 2021.
PUB: 10/21/2021 3:00 PM / DISC: 10/21/2021 3:02 PM
Copyright Business Wire 2021.