Home >> Media >> The MReport Webcast: Wednesday 9/2/2015
Print This Post Print This Post

The MReport Webcast: Wednesday 9/2/2015

Low mortgage rates and stronger consumer confidence are driving home sales and home prices upward, according to CoreLogic's July 2015 Home Price Index Report. The report found that home prices, including distressed sales, rose 6.9 percent year-over-year in July. Home prices rose 6.7 percent excluding distressed sales.

CoreLogic showed that on a month-over-month basis, home prices increased by 1.7 percent from June to July. Excluding distressed sales, home prices rose 1.5 percent month-over-month. Nationwide, home prices are still 6.6 percent below their April 2006 peak. The index showed that two states had negative home price appreciation: Massachusetts with negative 2 point 1 percent and Mississippi with negative 0.8 percent.

Mortgage fraud risk is being lowered by changes in residential origination practices and new regulation, according to a Fitch Ratings report released Tuesday. Much of the mortgage fraud risk improvement is credited to legislative changes. Lenders have also taken steps to reduce operational and misrepresentation risk including careful watch of quality control results loan officer compensation and underwriters. Technology advancements such as fraud risk tools and publicly available housing information have also played a key role in reducing risk.

About Author: Jordan Funderburk

x

Check Also

The Week Ahead: Balancing the Economy and Housing

An upcoming webinar will feature Patrick F. Stone, and Economist Dr. Bill Conerly analyzing the economy and its impact on housing, and provide predictions on the upcoming quarter and the remainder of 2023.