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Weak Jobs Report Hangs Over Housing Markets

Job growth slammed into a wall last month, with employment figures dropping and the number of jobless rising a grim indication that the housing markets may lose steam. According to Census data, the economy added only 18,000 new jobs in June, falling short of expectations that data would trump the 25,000 jobs brought on in May. Numbers for job loss in April and May also hit 9.2 percent and 9.1 percent, with economists saying that the market still needs a net gain of about 150,000 jobs.

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MBA: Commercial, Multifamily Originations Sluggish

According to a recent quarterly report released by the Mortgage Bankers Association, commercial and multifamily originations slowed to a rate 25 percent lower in the quarter this year than the last quarter in 2010. Titled the Commercial Real Estate/Multifamily Finance Quarterly Data Book, the report documented new signs of life in the economy, denoting $7.8 billion in profits for mortgage commitments, the highest in the first quarter in three years, reflective of a 60-percent increase from the first quarter last year.

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Renters: Owning a Home Top Priority

The National Association of Realtors released a survey this week showing strong support for the belief that homeownership is a credible and worthy goal, with 72 percent of renters surveyed agreeing that owning a home remains a top priority. The 2011 National Housing Pulse Survey signaled a 72 percent thrust among renters who want to own a home, a marked improvement from 63 percent last year. The survey revealed a backlash against the proposed Qualified Residential Mortgage rule, which critics charge will raise down payments by 20 percent.

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HUD Scorecard: Home Sales Rise, Prices Dip

HUD and the Treasury Department jointly released the June edition of the Obama administration├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Housing Scorecard, offering mixed results as home sales crested on a slight uptick and an oversupply of foreclosed properties remained in place. According to the Scorecard, existing home sales jumped slightly over June, trending from 25,100 to 26,900. Mortgage rates elevated the new home sales by staying low, with a number of borrowers refinancing their mortgages to recoup losses and boost their savings.

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NAR: Commercial Market Looking Up

The National Association of Realtors released statistics showing a northerly thrust for commercial markets, as job growth and brightening spots in the U.S. economy contributed to a growing level of confidence.

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Ginnie Mae Offloads $26B in MBS

According to a recent report, Ginnie Mae issuers put up over $26 billion in mortgage-backed securities for sale on the secondary market over the course of May, reflecting a 4 percent overall decline from April. HUD released a report indicating the placement of 99.5 percent of FHA-insured loans and 97 percent of VA-backed loans in Ginnie Mae packages over the course of 2010, with an end-point in September. Ginnie Mae also securitized $770 million worth in FHA-insured reverse mortgages and $1.6 billion in multifamily loans over the course of May.

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Homes Sales Fall in Massachusetts

Home sales in Massachusetts fell by more than 25 percent over May in comparison with rates from the same month last year, while home prices shot up, interrupting a five-month-long trend, according to The Warren Group.

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Capital Partners Buys Real Estate Network

On Wednesday real estate investment company C-III Capital Partners LLC inked its name to an agreement approving acquisition plans for NAI Global, a global network of commercial real estate firms, potentially bringing the firm, with assets valued at nearly $150 billion, up to speed as an increasingly competitive force.

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