Home >> Featured (page 305)

Featured

New Home Sales Spike 9.6% in January

According to estimates released Wednesday by the Census Bureau and HUD, new single-family homes sold at a seasonally adjusted annual rate of 468,000, up 9.6 percent from December’s upwardly revised rate of 427,000. Compared to last year, January sales increased 2.2 percent. The overall increase should come as welcome news to a market in slowdown.

Read More »

Number of ‘Fully Recovered’ Markets Grows

Eighty-nine markets nationwide have "fully recovered" to normalized price levels, Homes.com says in its December Local Market Index. That number is up from 87 in the previous report. Mid-size markets saw a large improvement in recovery efforts; 60 of the top 200 mid-size markets have fully recovered previous losses in home prices.

Read More »

Home Prices See Greatest Yearly Gain Since 2005

S&P Dow Jones Indices released Tuesday its S&P/Case-Shiller Home Price Indices for December, showing national prices up 11.3 percent as of year-end, a slight pickup over the previous quarter’s annual improvement of 11.2 percent. The national index covers all nine U.S. census divisions. While prices were strong in Q4 compared to the previous year, they were down relative to Q3, dropping 0.3 percent.

Read More »

Prices Crawl Up 0.1% in December Index

The Data & Analytics division of Black Knight Financial Services released on Monday its latest Home Price Index (HPI), noting an increase of 0.1 percent in home prices to $232,000 for the month of December. The largest states experienced varying degrees of home price changes: California experienced no change; Florida rose 0.6 percent; New Jersey fell 0.1 percent; New York rose 0.7 percent; and Texas rose 0.4 percent.

Read More »

Mortgage Risk Continues to Climb

Last month’s implementation of the Consumer Financial Protection Bureau’s (CFPB) qualified mortgage (QM) guidelines did little to stem the rise of mortgage risk across the nation, according to the latest from the American Enterprise Institute (AEI). The group’s National Mortgage Risk Index (NMRI), a measure of loan performance under stressful economic conditions, increased to a reading of 11.8 percent in January.

Read More »

CFPB Deputy Draws Fire with ‘Ill-Timed’ Criticisms

After Consumer Financial Protection Bureau (CFPB) Deputy Director Steven Antonakes decried mortgage servicers for not doing enough to mend the industry after the recent housing crisis, one industry leader called his comments "inflammatory and without benefit to the audience." Ed Delgado, president and CEO of the Five Star Institute, believes the deputy director's remarks are not only ill-timed but also counterproductive.

Read More »

Existing-Home Sales Fall to Lowest Level in 18 Months

Existing-home sales slowed last month to a seasonally adjusted annual rate of 4.62 million—their lowest level in a year and a half—as ongoing inventory constraint lifted prices, the National Association of Realtors (NAR) reported Friday. The drop represents a 5.1 percent decline compared to both December and January last year. On just the single-family side, sales were down to a rate of 4.05 million.

Read More »

Monthly Home Payments Up 21% in Q4

RealtyTrac released Thursday a new housing affordability analysis, noting an average 21 percent increase in monthly house payments from a year ago. The report showed that the average house payment of a home purchased in the fourth quarter of 2013 rose to $865. That figure is based on a 30-year fixed rate mortgage with an interest rate of 4.46 percent and a 20 percent down payment.

Read More »

Refinances Up, Standards Down in January Origination Report

Examining a sample of applications passing through its network, Ellie Mae reports refinance mortgages made up 47 percent of originations in January, up slightly from December. Refinance share bottomed out at 39 percent in October 2013 and has slowly risen since. The increase in refinances compared to purchase loans matches Freddie Mac’s latest outlook, which observed a “second wind” for remortgaging as interest rates resist lifting factors.

Read More »

January Housing Starts Plummet

The Census and HUD announced jointly Wednesday that housing starts in January ran at a seasonally adjusted annual rate of 880,000, a 16 percent decline from December. The drop in starts came during a month in which homebuilder confidence in the single-family market (as measured by the National Association of Home Builders) measured at an index value of 57, reflecting general optimism.

Read More »

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.