Despite lackluster performance from the economic sector, the housing recovery will press on and stimulate overall growth, according to Freddie Mac's most recent economic and housing outlook.
Read More »Total Mortgage Receives Arizona License, Opens Phoenix Branch
Total Mortgage Services, LLC now has its Arizona Mortgage Banker License and is licensed to originate residential loans in the state, the company announced.
Read More »Fixed Rates See Quiet Week as Markets Calm
Having spent the last several months bouncing around, average fixed mortgage rates were little changed over the last week as market speculation settled.
Read More »New President to Lead First American Mortgage Services
In Santa Ana, First American Title Insurance Company announced it has hired Kevin Wall as president of its First American Mortgage Services (FAMS) division.
Read More »August Builder Confidence Up, Reaches Record High in Midwest
The National Association of Home Builders' (NAHB) Housing Market Index (HMI)--a measure of builder confidence--increased again in August, climbing three points to 59, its highest reading since November 2005, the group reported Thursday. The index has improved 15 points (34 percent) in the last three months. Economists had expected the August index to slip to 56 from July's originally reported 57. The strong August numbers--following the strong June and July reading--gave further evidence to a recovery in the housing sector.
Read More »First-Time Jobless Claims At Pre-Recession Levels
First-time claims for unemployment insurance for the week ending August 10 fell to the lowest level since January 2008, the Labor Department reported Thursday. The department said there were 320,000 new claims for unemployment insurance, a drop of 15,000 from the previous week. Economists expected the number of claims to drop to 330,000 from the 333,000 originally reported for the week ending August 3. The number of filings for that week was revised to 335,000.
Read More »Fixed-Rate Loans Overwhelmingly Popular with Refinancers
Freddie Mac found that among refinances in the second quarter, 79 percent of homeowners with adjustable-rate mortgages (ARMs) switched to fixed-rate loans.
Read More »Former Nationstar VP Joins Pacific Union Financial
In Texas, Pacific Union Financial, LLC hired Tim Wagner as SVP of marketing. Wagner joins the company from Nationstar Mortgage, where he was VP of marketing. There, he directed the integrated and ecommerce marketing teams, supporting all corporate, servicing, and originations decisions.
Read More »Housing Affordability Dips to Four-Year Low in Second Quarter
While rising home prices across the nation may be good news as they imply recovering markets, the trend may dampen housing affordability.
Read More »Report: Production, Profits Up at Independent Mortgage Bankers
Production and profitability both increased among independent mortgage bankers last quarter, though commissions continue to decline, according to a quarterly trend report released by Richey May & Co. The quarterly benchmarking survey--put together using the company's Richey May Select analytical technology--shows overall production increased among independent mortgage banks by 11 percent from the first quarter to the second.
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