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Market Studies

Rural, Urban or Suburban: Who Wants to Buy More?

Despite talk of the rural-urban divide, new data shows that Americans seem to share the same sentiments about homeownership regardless of their location. In a recent survey, residents in rural, suburban, and urban areas all shared largely similar thoughts on homeownership and its role in the American Dream. The only place the three groups diverged was in the intended length of stay; only 35 percent of urban buyers plan to stay seven years or more.

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Purchase Loans Outpace Refis

Purchase loans are up and refis are down according to a recent report. Refis are down significantly over the past six months, while purchase loans are on the rise. Time to close is also narrowing for the month on both purchase and refi loans, averaging just 41 to 42 days per loan.

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Disparate Tech Holds Lenders Back

Today’s mortgage servicers are suffering from overly disparate technology solutions, and those disconnected systems are holding businesses back, according to a new report. In response to increased compliance follow the housing crisis, most available mortgage technology has become product-specific, and that’s created a disconnect that requires fractured, inefficient processes that are costly and unwieldy. The report proposes an overlay system to bridge the gaps and provide more consistency.

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West Sees Biggest Jumps in Home Prices

New data shows that the West—specifically the Northwest—had the top-performing market for Q1 2017. Seattle and Portland had two of the strongest showings in terms of price growth, while the region as a whole saw prices rise 8 percent over the year. The worst market for the quarter was Memphis, Tennessee.

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The Buying Gap

Female renters have a harder time buying a home than their male counterparts. According to recent analysis, this is due to several factors, including lower wages, more student loan debt, more risk aversion, and lower credit scores. Closing the wage gap could help, though that isn't projected to happen until 2052.

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Orlando Best for First-time Buyers

Orlando is the single best spot for first-time homebuyers, according to a new analysis. Tampa took the No. 2, followed by other cities in the Southeast and Midwest. The analysis took into account median home value, forecasted values, inventory, and other factors.

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Luxury Homes Prices Up; D.C. Sales Spike

Luxury home prices are up more than 4 percent over the year, with Washington, D.C., seeing the biggest spike in price. According to one economist, potential tax cuts for the wealthy may be the cause. Other cities to see high year-over-year luxury home price growth were St. Petersburg, Florida; Portland, Oregon; Paradise, Nevada; West Palm Beach, Florida; and San Francisco.

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Housing Prices Up 6 Percent Over 2016

Home prices are up yet again, both over the month and over the year. The latest House Price Index shows a more than 6 percent uptick over 2016's prices and nearly a full percent jump since January of this year. The most annual growth was seen in the Mountain region.

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Analysis: Section 502 & Recession Relief

A new analysis shows the USDA’s single-family loan programs offered a strong alternative to conventional loans during the housing crisis. At one point, 502 Guaranteed loans even exceeded 100 percent LTV. Guaranteed loans jumped by 483 percent from 2006 to 2010, while Direct ones rose 88 percent.

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STRATMOR Gives LendingQB High Marks

According to STRATMOR Group’s Technology Insights survey, LendingQB, a provider of a web-based loan origination system (LOS) based in Costa Mesa, California, has received high marks for vendor satisfaction and customer support.

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