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Large Lenders Loosen Credit Standards, Small Lenders Tighten Up

Credit standards at large lenders appear to be loosening somewhat, while criteria at small and mid-sized lenders appear to be tightening, according to a new survey from Fannie Mae. Lenders that reported tightening credit standards most often stated "changing regulatory requirements" as the rationale for their stricter standards.

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Mortgage Rates Steady Amid Mixed Sales Reports

In its latest Primary Mortgage Market Survey, Freddie Mac recorded a 4.13 percent average interest rate (0.6 point) for a 30-year fixed-rate mortgage (FRM) product for the week ending July 24, unchanged from last week's survey results. The latest movement—or lack of movement—among interest rates follows news of mixed activity in the housing market in June.

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Market Index Shows Continued Stall in Housing

The national housing market moved slightly farther away from stability in May as applications for home purchase mortgages remained subdued. Freddie Mac's Multi-Indicator Market Index (MiMi) for the month slipped to a value of -2.64 in May, indicating a slightly weaker market than in April, when the index measured -2.59.

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Negative Equity Stalls as Home Price Gains Level

Underwater

RealtyTrac released Thursday its latest statistics on home equity for the second quarter, reporting continue declines in the number of U.S. properties considered "seriously" underwater. According to the company 9.1 million homes are now considered seriously underwater, representing 17.2 percent of all homes nationwide. There's still a long way to go, however, especially as annual home price appreciation keeps coming down.

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New Home Sales Tumble in June; May Sales Sharply Revised

The Commerce Department reported on Thursday that sales of new homes in June were at an estimated seasonally adjusted annual rate of 406,000, reflecting a decline of 8.1 percent from May. May's sales rate, originally reported at 504,000, was revised down to 442,000, erasing much of the 18.6 percent gain that had been recorded previously.

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Despite Housing Woes, Outlook Bright for Minnesota

Wells Fargo's Economics Group recently released its July 2014 economic outlook for Minnesota, reinforcing that while the state's economy is greatly improved, housing still lags behind, with traditional homebuyers in no great hurry to return to the market.

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FHFA Price Index Gains Momentum in May

The Federal Housing Finance Agency's (FHFA) monthly House Price Index (HPI) increased 0.4 percent in May from April, the agency reported Tuesday. Seasonally adjusted price changes from April to May ranged widely across the nine census divisions, from a low of -0.7 percent in the East South Central area to +1.1 percent in the West South Central division.

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Freddie Mac Forecast: Less Bitter, More Sweet Ahead

Economic growth so far this year has been "bittersweet" as housing takes a backseat in moving the recovery forward, Freddie Mac said Monday in its July 2014 Economic and Housing Outlook. But with employment bouncing back and household formations expected to improve, all is not last, says Freddie Mac VP and chief economist Frank Nothaft.

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Are Rising Student Loans Really Stifling Homeownership?

One of the pet reasons for explaining the lack of demand for houses among millennials is the presence of ever-escalating student loan debts. The thinking goes that college graduates are so mired in debt that they either cannot afford to buy or are too afraid to run up more debt. However, Mark Fleming, chief economist at CoreLogic, isn't buying it.

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Uneven Recovery Continues with Home Price Acceleration in May

While home prices continue to decelerate on an annual basis after reaching peak speed in February, price gains did pick up slightly from April to May, according to FNC's latest price index. After rising 0.6 percent over the month in both March and April, national home prices rose 1 percent in May, according to FNC's data, which excludes the sales of distressed properties.

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