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Asking Prices for For-Sale Homes Up in April

Homes for sale saw their asking prices tick up 0.5 percent in April, more than in March, according to Trulia. Asking prices climbed quarter-over-quarter by 1.9 percent, while price increases unadjusted for seasonality went up 4.8 percent. Prices for for-sale homes also went up 0.2 percent nationally. Miami and Phoenix saw the biggest increases among asking prices, with figures up by more than 15 percent year-over-year. Forty-four of the 100 largest metro areas observed year-over-year price increases, while pickups took place in 92.

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Bank of Colorado Significantly Increasing Market Share

Bank of Colorado recently reported an estimated 25 percent uptick in loan production during the past 24-months, and the company's technology provider, Mortgagebot, is taking partial credit for the significant increase. Citing the bank's use of MortgageboT's PowerSite platform, the tech company says that its integrated point-of-sale solution helped the financial institution capitalize on current market conditions. Mortgagebot noted that the departure of several larger lenders in Bank of Colorado's geographical region created opportunities to increase market share.

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Mortgage Rates Zip Past All-Time Lows, Setting New Records

Concerns about the economy, European debt, and Chinese growth led mortgage rates to fall for the fourth straight week, according to Bankrate.com. The finance Web site found the 30-year fixed-rate mortgage averaging 4.05 percent, down from 4.09 percent last week, according to Bankrate.com's weekly survey. Bankrate.com also said that the 15-year loan set a new record low by falling to 3.25 percent, down from 3.28 percent, while 5-year and 1-year adjustable-rate mortgages each fell from 3.03 percent to 3.02 percent.

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Remodeling Stayed Flat During First Quarter: NAHB

Remodeling activity fell flat during the first quarter this year, according to the National Association of Home Builders. The trade group recently released a Remodeling Market Index that found remodeling activity dropping to 47 from 48 over the last quarter. Anything below 50 for the index indicates that more remodelers say that market activity is less than high. The index climbed down by one point to 49 over the first quarter, with future indicators of remodeling business down two points to 44. Three components shifted differently.

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Green Homes Could Account for Nearly 40% of Construction by 2016

The residential construction market could tilt toward green homes if today's preferences persist, with one recent study estimating that energy-efficient residences could account for anywhere from 29 percent to 38 percent of the playing field by 2016. Unveiling the report at a homebuilders' conference Tuesday, McGraw-Hill Construction estimated that green homes amounted to 17 percent of the construction market last year. The study said that green homes could represent anywhere from $87 billion to $114 billion in gains to be had by the construction industry.

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Experian Reports Rise in Mortgage Fraud Abroad

In the United Kingdom, Experian Identity & Fraud is reporting another annual uptick in mortgage fraud, recently revealing statistics that showed an eight percent rise in incidences of fraud during 2011. The company's survey marks the fifth consecutive year during which the rate of mortgage-related fraudulent activity has increased. Experian's findings indicate that an estimated 34 of every 10,000 mortgage applications contained false information in 2011. The results of the study represent a significant elevation of numbers seen in 2006.

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Costco Launches Online Mortgage Loan Program

As anticipated, Costco will now begin offering consumers access to mortgage loans through the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós online presence. The discount retailer will move ahead with its initiative to extend residential mortgage to borrowers through partnerships with 11 U.S lenders.

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Stocks Swell for Big Four as Construction Spending Rises

Shares swelled for the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós four largest lenders Tuesday, with analysts crediting a rise in construction spending over March for a climb by the stock market to levels not seen in four years. The Dow Jones Industrial Average cleared an important psychological hurdle by rising 65 points to 13,279, the highest in four years. Media outlets and analysts attributed the boon to a leap ahead in confidence for the Chinese and U.S. economies, with a slight rise in construction spending over March responsible for the latter. Construction spending arrived at $171.2 billion.

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