News

Home prices rose 4.9 percent over the last 12 months in September 2015, up from the 4.6 percent increase in August 2015, according to the S&P/Case-Shiller Home Price Indices released Tuesday.

Before the crisis, cash sales averaged about one-fourth of all home sales, and at this rate, CoreLogic projects that this share should hit 25 percent once again by mid-2017.

According to Freddie Mac, in the five year-period between 2008 and 2013, the cost of servicing a performing loan increased 2.6 times (from $59 to $156).

Homeowners across the nation are undoubtedly recovering from the housing crisis, but wealth among these homeowners is not contributing to the economy as whole like it did prior to the crisis.

Single-family homes that are built and held for rental purposes have risen significantly over the last year, but caution must be taken when looking at trends within this market as starts are still disappointing.

Existing-home sales in October, although still healthy, fell from September’s spike, as home supply remains low, consumers have fewer options to choose from, and affordability issues persist in some markets.

“There is overwhelming consensus that congressional action is needed, and it is hard to imagine that anyone would ever want to harm taxpayers and return to the failed model of private gains and public losses.” -Sen. Bob Corker

Home sales in October settled down from the booming summer season, dropping 7.7 percent from September, and 0.8 percent year-over-year, RE/MAX's October 2015 National Housing Report showed.

Real estate appraisers are quietly disappearing in the mortgage industry as less young careerists are opting to enter this field, which could in turn, pose serious risks for both lenders and consumers such as added costs and lengthy real estate delivery times.

Economic growth is expected to move upward in the fourth quarter following a disappointing third quarter, according to Fannie Mae's Economic & Strategic Research Group. The research shows that economic growth for all of 2015 is projected to reach 2.2 percent, with a another increase in 2016 to 2.4 percent.