Florida's housing market continued on a steady growth track throughout the third quarter, though improvements were slightly subdued compared to spring and early summer. Florida Realtors' chief economist, Dr. John Tuccillo, said the quarterly numbers reinforce trends the group has seen on a month-to-month basis.
Read More »Regulators Shutter California Bank; 2014 Failure Tally Hits 17
The Office of the Comptroller of the Currency (OCC) closed down the Palm Desert-based Frontier Bank—also known as El Paseo Bank—citing a lack of assets and earnings "due to unsafe and unsound practices."
Read More »BofA, US Bancorp to Pay $69M in MBS Investor Suit
According to a motion filed with New York's Southern District Court, Bank of America and US Bancorp agreed to pay $69 million to a number of state and local pension funds that lost millions from their investment in MBS purchased from Washington Mutual before its collapse in 2008.
Read More »PrimeLending Welcomes SVP, Regional Manager for Pacific Northwest
National home lender PrimeLending named Kelly Lee as SVP and regional manager for the Pacific Northwest.
Read More »Experts Discuss Impact of Changing Demographics on Housing
In a panel at the 2014 Realtors Conference and Expo, experts discussed the changing face of American homebuyers and the potential effects of these changes on the housing market. One of the biggest topics for the panel was the state of millennial homeownership.
Read More »Americans’ Financial Optimism Grows; Housing Presents Mixed Picture
Forty percent of American consumers polled in Fannie's latest National Housing Survey said they believe the economy is on the right track at the moment, flat from September's survey but up 13 percentage points over the past year. Housing attitudes were decidedly more mixed, however.
Read More »Employers Add 214K Jobs in October; Unemployment Dips to 5.8%
U.S. employers added 214,000 jobs last month, the Bureau of Labor Statistics (BLS) reported Friday morning. Economists had expected payrolls would increase by 240,000, a slight decline from September's preliminary estimate of 248,000 new jobs added.
Read More »Industry Leaders Take On Housing Challenges at National Property Preservation Conference
Mortgage industry leaders gathered this week at the annually held National Property Preservation Conference (NPPC) to discuss some of the greatest challenges facing housing today and collaborate on how to tackle them head-on.
Read More »Mortgage Rates Up for Second Week
In its weekly Primary Mortgage Market Survey, Freddie Mac reported the average interest rate for a 30-year fixed-rate mortgage (FRM) slid up to 4.02 percent (0.5 point) for the week ending November 6. It was the first time the 30-year fixed average measured above 4 percent in nearly a month.
Read More »Home Prices Remain on Growth Track Through Q3
According to a report released Thursday by the National Association of Realtors (NAR), the median price for an existing single-family home rose annually last quarter in 73 percent of the 172 major metros surveyed. That share was up slightly from the second quarter, when 71 percent of metros posted year-over-year gains.
Read More »