Home >> Author Archives: Krista Franks Brock (page 20)

Author Archives: Krista Franks Brock

Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia.

Down Payments Continue to Decline in Third Quarter

The third-quarter average is down 2.74 percent from the previous quarter, according to LendingTree, which suggested in a press release that the drop is due to a slight loosening of standards by lenders across the nation. The lowest average down payment percentage in the third quarter took place in Nebraska, where down payments averaged 12.5 percent of loan values. South Dakota (12.8 percent), Arkansas (12.9 percent), and Alabama (12.9 percent), followed, all with averages under 13 percent for the quarter.

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Homeownership Rate Report Spurs Mixed Reactions

The national homeownership rate stands at 65.3 percent as of the end of the third quarter, up 0.3 percentage points from the previous quarter, but down 0.2 percentage points from last year, according to the Census Bureau. While the quarterly rise has some analysts expressing hope that housing has reached a turning point, others focused more on the slow pace of growth as a sign that young adults still aren't in a position to create their own households.

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Analysts: Fannie Mae LTV Threshold Will Reduce Options, Not Risk

With Fannie Mae enacting tighter requirements on eligibility for loan purchases, experts at the Urban Institute's Housing Finance Policy Center are speaking out against the move. In a blog post on the Urban Institute's Metro Trends Blog site, the center's Laurie Goodman and Taz George said, "This change places yet another barrier in front of low- and moderate-income families, who are already facing a tightening credit box." They also commented that if Fannie Mae's intent was to reduce risk, "this was a crude way to accomplish it."

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Double-Digit Annual Price Gains Expected to End in 2014

National home prices are up 10.1 percent year-over-year in the second quarter, but price appreciation is expected to fall out of the double-digits, reaching 5.4 percent by the beginning of next year, according to the CoreLogic Case-Shiller Home Price Indexes. "Combined with increased housing construction, expected increases in existing inventories should restrain price appreciation even if demand remains strong," said David Stiff, principal economist for CoreLogic Case-Shiller.

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Home Sellers Concerned About Economy, But Not Enough to Delay Plans

In the aftermath of the federal government shutdown, Redfin Research Center finds home sellers harbor concerns about the state of the economy and declining optimism toward selling their homes. "Almost certainly due to the U.S. government shutdown and debt ceiling battle in October, sellers this quarter were most worried about the state of the U.S. economy, with 39 percent naming 'general economic conditions' as a concern about listing their home," Redfin stated Thursday in its Real-Time Seller Survey.

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LPS Price Index Inches Up in August

Home prices continue to rise, albeit with some dampening due to seasonal impacts. However, prices are still appreciating faster than last year, according to Lender Processing Services' (LPS) Home Price Index report for August. LPS calculated a 0.4 percent monthly home price increase in August and a 9 percent annual rise. Both calculations are lower than the S&P Case-Shiller Home Price Indices, which calculated a 1.3 percent monthly increase and a 12.8 percent annual increase.

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