News

The Mortgage Bankers Association's (MBA) weekly applications index climbed a seasonally adjusted 14.2 percent on a weekly basis for the week ending January 16, the group said Wednesday. The increase, which followed a 49 percent jump the week prior, put applications at their highest level since June 2013.

Builders broke ground on new residences at a seasonally adjusted annual rate of 1.09 million in December, an increase of 4.4 percent month-over-month and 5.3 percent year-over-year, the Commerce Department reported Wednesday. For the entire year, the government estimates homebuilders started on 1.01 million new units, making 2014 the first year since 2007 that starts topped the 1 million mark.

In a live-streamed "fireside chat" with Zillow Chief Economist Dr. Stan Humphries, HUD Secretary Julian Castro reiterated that 2015 will be a "year of housing opportunity," reusing a phrase he coined in a National Press Club appearance earlier this month.

During his State of the Union address Tuesday evening, President Barack Obama did not make any substantial announcements regarding the housing market, government mortgage-backed securities, or the GSEs. However, "lower mortgage premiums" were mentioned, alongside "child care and sick leave and equal pay" as "ideas [that] will make a meaningful difference in the lives of millions of families."

Freddie Mac cited a number of positive opportunities for housing in 2015—but households and businesses should take advantage of them early, because some of them aren't expected to last.

Researchers at the American Enterprise Institute's (AEI) International Center on Housing Risk estimate that Americans buying their first home made up about 50 percent of December's purchase mortgage market, up slightly from November.

RE/MAX reported Monday that home sales activity jumped 14.4 percent nationally month-over-month December, a sharp reversal from November's 22.5 percent drop. Compared to the same month in 2013, December sales were up 3.9 percent, making it one of only a handful of months in 2014 to see transactions improve on a yearly basis.

Altisource Portfolio Solution's executive team saw a new addition this week, with industry veteran John Vella stepping into the newly created role of chief revenue officer.

The National Association of Home Builders (NAHB)/Wells Fargo builder sentiment index dropped to 57 in January, NAHB reported Tuesday morning. December's index was revised upward to 58, reflecting no change from the month before.

Choice Neighborhoods builds on the work of the Neighborhood Revitalization Initiative, a partnership formed in 2009 between HUD, the Department of Education, the Department of Health and Human Services, the Department of Justice, and Treasury.