Tag Archives: Attorneys & Title Companies

As fixed interest rates continue on their upward path, initial-period rates on adjustable-rate mortgages (ARMs) remain near historic lows--a stat the Freddie Mac anticipates will factor into borrowing decisions in the year ahead. "As longer-term interest rates rise, ARMs with their lower initial interest rates will become more appealing to loan applicants," said Frank Nothaft, VP and chief economist for Freddie Mac. "We are expecting ARMs to gradually gain back some favor with mortgage borrowers."

The Conference Board's Consumer Confidence Index increased again in January, continuing December's rebound from months of declines. According to the group, the index rose 3.2 points to a reading of 80.7 in January. December's original reading was revised down from the originally reported 78.1 to 77.5. January's increase puts the index just above the 80.2 reading reported before the government shutdown in October. "All in all, confidence appears to be back on track," said Lynn Franco, director of economic indicators at the Conference Board.

Kroll Factual Data Inc., a provider of risk mitigation and third party verification services to the finance industry, announced the hiring of Jay Giesen as SVP of sales.

Despite experiencing a slight downturn--the first monthly decline in a year--home prices still turned in a strong performance in November.

Home prices edged up again in November as markets across the nation climbed a little closer to their pre-crash peaks--and others pushed up past them. The latest Home Price Index (HPI) report from Black Knight Financial Services (BKFS) shows prices rising in November to a national index value of $232,000, up 0.3 percent from October. Coming out strong were Texas and Colorado, which climbed to $186,000 and $257,000, respectively--well above the levels they experienced during last decade's bubble.

New home sales softened for the second straight month in December, falling well short of expectations as harsh weather and declining affordability turned potential buyers off.

Sixteen-year mortgage industry veteran John Coughlin has joined LRES as its new VP of sales, the asset management and valuations company announced.

FDIC announced the closure of an Oklahoma bank over the weekend, marking the first insured collapse in the Sooner State in more than a year and a half.

Ever since home prices bottomed out, increases in Nevada, Arizona, California, and Florida have outpaced the country. At the same time, however, homebuilding has remained "very subdued."

According to Redfin's most recent Real-Time Bidding Wars report, 52.0 percent of offers made by the company's agents faced competition last month, down from 52.8 percent in November and 62.4 percent a year earlier. Competition plummeted in the Northeast, which experienced "[p]articularly frosty weather" in the year's final month. Instances of competing offers dropped most in Boston and Baltimore, falling 19.7 and 13.5 percentage points, respectively.