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Author Archives: Aly J. Yale

Aly J. Yale is a freelance writer and editor based in Fort Worth, Texas. She has worked for various newspapers, magazines, and publications across the nation, including The Dallas Morning News and Addison Magazine. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more.

Moving Up Can Cost You

According to a new report, the average household spends an additional $447 per month when moving from a two-bedroom to a three-bedroom home. Move-up costs vary by home size and location but are steepest in San Jose, California, and in coastal areas. The lowest move-up costs are in Cleveland, Ohio.

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First-time Buyers Overpay on Housing

According to a newly released working paper released by the Federal Housing Finance Agency, first-time buyers, as a whole, overpay on housing purchases—, particularly when compared with repeat buyers. Despite buying cheaper, smaller homes, they out-pay repeat buyers by more than 1 percent—and about $3,000—on the same properties. This is likely due to a higher willingness to pay, the paper stated.

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Single-Family Construction Spending Up

The latest U.S. Census data shows that spending on single-family construction is up over the month and the year. Spending in this segment rose 1.2 percent over January and 3.4 percent since last February. Multi-family and overall spending are both up as well.

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Analysis: Better Schools, Housing Prices Require Longer Commutes

For families wanting affordable housing and great school districts, an analysis by the New York Times shows it’s going to require a longer commute. There are suburban “sweet spots,” the article posits, but they’re further out from cities like Boston, Chicago, and New York. Lexington, Massachusetts, was just one of these sweet spots mentioned.

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Director Cordray Addresses Dodd-Frank, Regulation

In remarks at the Chamber of Commerce 11th Annual Capital Markets Summit, CFPB Director Richard Cordray discussed the Bureau’s recent efforts—specifically those to adapt regulations to improve compliance and implementation within the industry. The CFPB actively works to provide clarity, solicit feedback, and revise according to that feedback on all rules, he said. The Bureau will soon assess its Dodd-Frank remittances rule and its mortgage rules, as mandated by Congress.

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Fannie Mae: Education & Homeownership Linked

According to a paper released by Fannie Mae on Thursday, educational attainment can increase the likelihood a young adult will buy a home. The paper’s findings showed a decrease in young adult homeownership since the Great Recession, as well as a dip in the likelihood of a 25- to 34-year-old to buy a home.

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FHFA, GSEs Make Progress on 2016 Goals

According to a Progress Report released by the Federal Housing Finance Agency on Wednesday, Fannie Mae and Freddie Mac have made significant movement on goals set forth by FHFA in the 2016 Scorecard. The report notes credit risk transfer programs that reduce taxpayer risk and improved access to credit as just a few of the developments in the last year.

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Affordability, Buying Power Drop as Prices Rise

With real house prices on the rise and inventory low, spring is poised to be a seller’s market, according to First American. Real home prices rose more than 8 percent over the year, with Jacksonville, Florida, seeing the most growth annually. According to First American Chief Economist Mark Fleming, “on a year-over-year basis, real house prices increase in all the metropolitan areas tracked . . .”

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