Royal Bank of Scotland (RBS) may have to pay additional penalties to settle claims that it sold faulty U.S. mortgage-backed securities in the years leading up to the housing market crash, according to a report from Reuters.
Read More »Appraisal Institute Names 2015 President
The Appraisal Institute, a professional association comprising nearly 22,000 real estate appraisers across 60 countries, rang in the new year with the appointment of a new president.
Read More »New Acquisitions Drive Up Business at Fannie
The balance of Fannie Mae's gross mortgage portfolio dropped from $436 billion in October down to $424 billion in November, marking the 52nd time in the last 53 months Fannie Mae's portfolio declined month-over-month. With the exception of December 2012, when the portfolio grew in value at a compound annualized rate of 1 percent, the value of the portfolio has declined every month since June 2010.
Read More »Home Sales, Housing Starts Expected to See Significant Growth in 2015
Employment grew at a rate higher than the national average (3 percent, as opposed to 2 percent) for the 25 to 29 age group, which is good news for housing, because this age group is the key first-time homebuyer segment. Steadily falling oil prices, which are down 45 percent since June, provide more economic growth tailwind going into next year. The drop in oil prices reduces energy-related expenses not just for driving, but for residential real estate also, according to Khater.
Read More »Matt Martin Real Estate Acquires Online Real Estate Auction Company
Matt Martin Real Estate Management (MMREM), a diversified real estate services firm headquartered in North Texas, announced it has executed a definitive agreement to acquire online real estate auction company RealtyBid.com.
Read More »Consumer Confidence Makes Comeback Heading Into Holidays
November's reading had been a disappointment for the Consumer Confidence Index following a post-recession high of 94.5 for October. The Present Situation Index jumped up to 98.6 in the latest reading from its November level of 93.7, while the Expectations Index fell slightly from 89.3 down to 88.5.
Read More »FHFA Reports Declines in Mortgage Interest Rates for November
Mortgage interest rates nationwide experienced declines from October to November, according to an index released by the Federal Housing Finance Agency (FHFA). The average interest rate for all mortgage loans in the U.S. was 4.01 percent in November, a decline of 10 basis points from 4.11 percent in October; for conventional, 30-year fixed-rate mortgages of $417,000 or less, the average interest rate of 4.24 percent for November represented a decline of eight basis points from 4.32 in October.
Read More »U.S. Home Price Index Pace Continues Deceleration
Home prices in the U.S. increased at a slower pace in October than in September, although eight cities experienced growth at a faster rate, according to the latest S&P/Case-Shiller Home Price Index released by S&P/Dow Jones Indices on Tuesday.
Read More »Housing Markets Stabilize in October
Freddie Mac's latest Multi-Indicator Market Index (MiMi) report finds the U.S. market weak but stabilizing at year's end. The index, released Tuesday, shows that 70 markets are inching upwards, including San Jose and Pittsburgh, which have finally joined the forward momentum.
Read More »Mortgage Applications Rise in Latest Index
The Mortgage Bankers Association's (MBA) seasonally adjusted mortgage application index ticked up 0.9 percent for the week ending December 19, the trade group reported Wednesday. Unadjusted, the index rose 0.4 percent.
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