Fannie Mae and Freddie Mac are set to send another $6.8 billion to the U.S. Treasury after posting a mild increase in profits for the third quarter. By the end of this year, the two GSEs, which have been in conservatorship since 2008, will have returned a combined $225.5 billion to taxpayers.
Read More »Fewer Homes Going to All-Cash, Institutional Buyers
In a report released Thursday, real estate data firm RealtyTrac revealed that 33.9 percent of single-family home and condo sales last quarter were transacted in cash, down from 36.9 percent in the second quarter and flat from last year.
Read More »Mortgage Apps Rise on Strong Refinance Activity
According to an examination of application numbers by macroeconomic research company Capital Economics, total mortgage application volume jumped 10.1 percent in October, bouncing back after four straight months of declines. The headline measure received a major boost from refinance applications, which were up 18.5 percent month-over-month to arrive at an eight-month high.
Read More »Mortgage Credit Availability Falls in October
Access to mortgage credit tightened in October, according to a report from the Mortgage Bankers Association (MBA). The group's Mortgage Credit Availability Index (MCAI), a gauge of credit access based on borrower traits and underwriting trends, fell 2.5 percent last month to a reading of 113.2.
Read More »Home Price Appreciation Slows to 5.6% Annual Rate
Home price growth continued in September on an annual basis, while monthly returns have stagnated, CoreLogic reported Tuesday. Including distressed sales, the company's Home Price Index (HPI) increased 5.6 percent in September compared to the year prior, bringing the index's yearly growth streak to 31 straight months.
Read More »LenderLive Names Account Executive for Correspondent Lending Division
LenderLive Network, a domestic-based, end-to-end mortgage services provider, announced the hiring of David Greif as regional account executive representing the company's Correspondent Lending division in the state of Florida.
Read More »First-Time Buyer Share Hits 27-Year Low
In its annual survey of homebuyers and sellers, the National Association of Realtors (NAR) found that only about 33 percent of home purchases in the last year were made by first-time buyers, down from 38 percent in last year's survey and the long-term average of 40 percent.
Read More »Mortgage Demand Down as Lending Standards Steady
The Fed's Senior Loan Officer Opinion Survey, which covers a three-month period ending in October, shows credit standards on prime mortgages remained basically steady at 83 percent of reporting banks over the last few months. Of the nearly 14 percent that reported easing their lending criteria somewhat, the vast majority were large banks with assets of $20 billion or more, with only one smaller institution dialing down its standards.
Read More »Fannie Mae’s Book Expands for First Time This Year
According to Fannie's monthly volume summary, the mortgage giant's book totaled $3.12 trillion as of September 30, representing an annualized growth rate of 1.5 percent compared to August's decline of 4.0 percent.
Read More »Construction Spending Weakens in September
The Commerce Department reported Monday that construction spending throughout September came in at an estimated seasonally adjusted annual rate of $950.9 billion, down 0.4 percent from August but up 2.9 percent from a year ago.
Read More »