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FHFA House Price Index Up 7.1% in February

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The Federal Housing Finance Agency (FHFA) released Tuesday its House Price Index (HPI) for February, revealing home prices rose 0.7 percent month-over-month on a seasonally adjusted basis. Year-over-year, U.S. house prices were up 7.1 percent. As of February, the U.S. index rested at 196.3, 13.6 percent below its peak in April 2007 and was roughly the same as its October 2004 reading. FHFA's index has not declined on a monthly basis since January 2012.

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Former Nationstar VP Joins Stearns Lending

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Stearns Lending, Inc., a nationwide mortgage lending institution encompassing retail, wholesale, and correspondent business channels, announced the appointment of Aaron Samples as VP of strategic development.

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New Home Sales Rise in March as Prices Plummet

After experiencing the sharpest drop in two years in February, new home sales increased 1.5 percent to a seasonally adjusted annual rate of 417,000 in March, the Census Bureau and HUD reported Tuesday. Economists surveyed by Bloomberg expected March sales to increase to 419,000 from a February's originally reported 411,000. The median price of a new home, according to the Census-HUD report, plunged $17,900 (or 6.8 percent) in March to $247,000, the largest month-over-month decline since February 2011.

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RE/MAX: Prices, Sales Climb in March, Inventory Sees New Low

According to RE/MAX's National Housing Report for March, closed transactions climbed 27.8 percent month-over-month, starting the selling season off strong. Year-over-year, sales were up 2.9 percent, making March the 21st straight month to see higher sales than the previous year. Months Supply of homes fell to 3.8 in March, down 29.5 percent year-over-year and the lowest level recorded since RE/MAX's National Housing Report began in August 2008.

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FDIC Announces 3 More Bank Failures, Total Rises to 8

The 2013 national bank failure tally ran up to eight this weekend as three more institutions fell by the wayside. FDIC announced the collapses of Chipola Community Bank in Marianna, Florida; Heritage Bank of North Florida in Orange Park; and First Federal Bank in Lexington, Kentucky.

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CFPB Proposes Amendments to Clarify Mortgage Guidelines

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As part of its ongoing efforts to assist the industry in the implementation of new mortgage guidelines, the Consumer Financial Protection Bureau (CFPB) issued proposed amendments to clarify the qualified mortgage (QM) and servicing rules first laid out in January. The proposal addresses five topics, including debt-to-income ratio concerns surrounding the Ability to Repay Rule, uncertainties around the temporary QM provision, and which criteria are used to define "small servicers."

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Poll: Americans Growing More Optimistic on Home Prices

The infectious optimism surrounding the housing market has the majority of Americans feeling more positive, according to survey results from Gallup. According to Gallup's findings, 51 percent of those surveyed said they expect home prices to rise in their area over the next year--the first time since 2007 that that number has been above 50 percent. Last year, only 33 percent of respondents gave the same answer. In this year's survey, 34 percent of Americans said prices will stay the same, while 14 percent said prices will fall.

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