Daily Dose

Fannie Mae released its latest economic forecast, which acknowledged that atypically harsh winter weather in much of the United States has slowed new home construction and sales in Q1 2014. But the report also reaffirms Fannie Mae's position that the economy and housing markets will improve on 2013 growth by the end of the year's fourth quarter.

Despite declines in Freddie Mac’s Primary Mortgage Market Survey throughout the month, national data from the Federal Housing Finance Agency (FHFA) shows mortgage rates about a tenth of a percent from December to January. Based on a collection of data from a small monthly survey of lenders, FHFA reports the contract rate for the composite of all mortgage loans closed in January was 4.36 percent, up 11 basis points from December.

The National Association of Realtors' Pending Home Sales Index, a forward-looking indicator based on contract signings, edged up 0.1 percent to an even 95 last month as regional gains and declines offset each other. While it was hardly a banner report, January’s gain at least turned around the prior month’s originally reported 8.7 percent decline to 92.4, the lowest reading since November 2011.

For the first time in years, the national negative equity rate dipped below 20 percent to close out 2013, Zillow revealed Friday in its quarterly Negative Equity Report. According to the company’s stats, negative equity declined to 19.4 percent nationally as of the end of last quarter, bringing the underwater rate down more than 8 percentage points over the course of 2013.

On Thursday afternoon, MReport hosted its first-ever Live Twitter Chat, in which industry experts answer questions from all comers. Joining us for the first session was Rick Sharga, EVP for Auction.com and one of the preeminent voices in the housing industry today. In case you weren't able to make it, we recapped just a few of the topics tackled in the discussion.

Freddie Mac released on Thursday its quarterly earnings report for the end of 2013, revealing yet another strong quarter—the ninth straight. Net income at the enterprise totaled $8.6 billion in Q4, bringing total 2013 profits up to $48.7 billion. According to the company, full-year earnings were spurred by the ongoing housing recovery, legal settlements totaling $7.7 billion, and a tax benefit of $23.3 billion.

Freddie Mac’s Primary Mortgage Market Survey, released Thursday, has fixed-rate mortgage (FRM) products rising over the week ending February 27, with the 30-year fixed coming up to 4.37 percent (0.7 point) from 4.33 percent previously. A year ago, the 30-year FRM averaged 3.51 percent. At the same time, finance site Bankrate.com reported opposite movements in its own national survey.

FDIC-insured institutions earned a net income of $154.7 billion over the year in 2013, a 9.6 percent increase over the previous year, according to a report released by the agency. “[T]he industry continues to experience difficulty growing revenue,” said FDIC chairman Martin J. Gruenberg. He listed “[n]arrow margins, modest loan growth, and a decline in mortgage refinancing activity” as hindrances to revenue growth.

On a quarterly basis, home prices rose 1.2 percent, marking the tenth consecutive quarter of price increases, according to the Federal Housing Finance Agency's House Price Index report. The price appreciation that took place in the fourth quarter was "considerable, but more modest than in recent periods," said Andrew Leventis, principal economist for the FHFA.

It’s been accepted for the last few years that housing supply hasn’t been able to keep up with demand, contributing to large gains in home prices nationwide—but how do the numbers break down, and how do specific groups of buyers and sellers balance against each other?