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Tag Archives: Attorneys & Title Companies

Double-Digit Annual Price Gains Expected to End in 2014

National home prices are up 10.1 percent year-over-year in the second quarter, but price appreciation is expected to fall out of the double-digits, reaching 5.4 percent by the beginning of next year, according to the CoreLogic Case-Shiller Home Price Indexes. "Combined with increased housing construction, expected increases in existing inventories should restrain price appreciation even if demand remains strong," said David Stiff, principal economist for CoreLogic Case-Shiller.

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Home Sellers Concerned About Economy, But Not Enough to Delay Plans

In the aftermath of the federal government shutdown, Redfin Research Center finds home sellers harbor concerns about the state of the economy and declining optimism toward selling their homes. "Almost certainly due to the U.S. government shutdown and debt ceiling battle in October, sellers this quarter were most worried about the state of the U.S. economy, with 39 percent naming 'general economic conditions' as a concern about listing their home," Redfin stated Thursday in its Real-Time Seller Survey.

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Higher LTV Ratios Pull Down Borrower Health in Q3

Recent findings released by online lender exchange LendingTree reveal that the financial health of prospective borrowers dipped in this year's third quarter after seeing a sizable improvement in the second. The company attributed the slight decline in borrower health to rising home prices, which boosted loan-to-value ratios across the country to a national average of 89.8 percent and put more financial pressure on potential borrowers. National health also experienced a slight drag from a dip in the average credit score of borrowers.

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Republicans Block Watt Nomination for FHFA Head

Senate Republicans blocked on Thursday a vote on the nomination of Rep. Mel Watt (D-North Carolina) to head up the Federal Housing Finance Agency (FHFA). Watt's nomination was stopped in a 56-42 vote to end the debate over his confirmation. Sixty votes were needed to invoke cloture and move forward. The agency has been led since 2009 by acting director Edward DeMarco, who has attracted criticism from Democrats and consumer advocates who say he hasn't gone far enough to help distressed homeowners.

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Consumer Confidence Staggers in October

The Conference Board's Consumer Confidence Index, conducted for the group by Nielsen, fell to 71.2 in October after a moderate decline to 80.2 in September. "Consumer confidence deteriorated considerably as the federal government shutdown and debt-ceiling crisis took a particularly large toll on consumers' expectations," said Lynn Franco, director of economic indicators for the Conference Board. Franco noted recent history shows similar declines in response to government battles.

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