Home >> Tag Archives: Housing Affordability (page 20)

Tag Archives: Housing Affordability

Ohio Homeowners Convene to Solve the Housing Crisis

Homeowners and officials in held a town meeting Thursday in Akron, Ohio, to discuss the impact of the housing crisis on their communities. The event, called ├â┬ó├óÔÇÜ┬¼├àÔÇ£#MyHomeMyVote,├â┬ó├óÔÇÜ┬¼├é┬Ø was designed to put the housing crisis and voters├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó concerns at the forefront of the wave of issues surrounding this year├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós election season. Attendees used the hash tag to tweet their representatives and other officials with their concerns. Held at the Akron-Summit Public Library and co-hosted by Empowering and Strengthening Ohio├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós People (ESOP), among other organizations, #MyHomeMyVote featured speakers such as Senator Sherrod Brown and Rep. Betty Sutton.

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Mortgage Rates Continue Their Ascent as Worries Grow

Fixed mortgage rates continued their uphill climb following promising housing gains in July, but the upward trend might be short-lived. According to Freddie Mac's weekly Primary Mortgage Market Survey, the 30-year fixed rate mortgage averaged 3.66 percent (0.7 point) for the week ending August 23, up from 3.62 percent the previous week. The 15-year FRM also slid up, averaging 2.89 percent (0.6 point). A week ago, the 15-year fixed averaged 2.88 percent. Meanwhile, the 5-year adjustable-rate mortgage averaged 2.80 percent (0.6 point), up from 2.76 percent in the last survey.

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Originations Outpace Expectations in Second Quarter

Outpacing industry forecasts, mortgage originations ticked up 5.2 percent in the second quarter, totaling $405 billion during the three-month period, according to a report released this week from Keefe, Bruyette & Woods. On an annual basis, originations are up 44.6 percent, according to the study. Keefe, Bruyette & Woods suggests much of the increase came from refinance activity driven by low interest rates. Keefe, Bruyette & Woods predicts strong origination volume next quarter.

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Home Values Gain as Market Cools Heels in July

Zillow released on Tuesday its Real Estate Market Reports for July, revealing that the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Home Value Index hit $151,600 for the month, a 0.5 percent gain from June and a 1.2 percent increase year-over-year. Of the metro areas covered in the reports, 62 percent saw home values climb during July, with only 49 of the 167 areas posting declines. Of the 30 largest areas covered, the Phoenix metro experienced the largest monthly increase (2.2 percent), followed by San Francisco (1.2 percent) and Denver (1.0 percent).

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Fitch: ‘Volatile’ Buyback Claims Up for Bigger Banks

While some signs suggest the housing recovery may finally be under way, others signal that banks will likely continue to see repurchase claims from Fannie Mae and Freddie Mac. Analysts with Fitch Ratings found in a report on Monday that repurchase risk remains high for several financial institutions, including Bank of America, JPMorgan Chase, and Ally Financial. According to Fitch, repurchase risk climbed to 41 percent for Bank of America. Roughly 60 percent of the claims stemmed from private-label requests.

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Obama: Road to Recovery Is Paved with Refis

As the housing market and the overall economy crawl languidly toward an elusive recovery many believe will still take years to achieve, President Barack Obama suggests the key to progress is a broad housing refinance plan. Obama endorses a bill that would allow underwater homeowners to refinance at current interest rates, which continue to wallow near historic lows. A few senators have proposed bills recently to allow more homeowners to refinance their mortgages.

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Fannie Mae Sees Moderate Growth Despite Recent Gains

July├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós positive economic news did little to change Fannie Mae├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós forecast for 2012, the GSE revealed Tuesday. Fannie Mae├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Economic & Strategic Research Group issued its latest economic outlook, maintaining its expectations for modest growth in 2012. This news comes in spite of reports of strengthening retail sales and job growth in July. Fannie Mae├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Economic & Strategic Research Group issued its latest economic outlook, maintaining its expectations for modest growth in 2012.

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Sellers Hold Off to See If Home Prices Will Rise

After surveying more than 1,800 active home sellers, Redfin found that some of its customers are holding back from selling now because they believe patience will pay off in the form of higher offers for their home. The survey revealed that 38 percent of respondents plan to wait more than a year before selling their home, while 25 percent said they plan on selling now. About 36 percent of homeowners plan on waiting somewhere between 3 months and 12 months. More than a quarter (27 percent) of respondents said now is a bad time to sell as opposed to only 13 percent who said now is a good time to sell.

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RE/MAX: Is Housing Finally In Recovery Mode?

Looks like the dragon will have to step aside: 2012 is now "The Year of the Housing Recovery," according to RE/MAX. The real estate giant released its National Housing Report for August 2012 (covering July), showing that both sales and prices have posted year-over-year increases for most of 2012. Home sales appear to have peaked year-to-date in June, with July's sales falling 9.4 percent month-over-month. However, sales were up 10.3 percent from July 2011, marking the 13th consecutive month for year-over-year sales gains.

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Hard-Hit California Sees Boost With July Sales, Prices

Home sales and prices climbed in California in July, with median prices nearing a four-year high, according to the California Association of Realtors. The trade group found closed escrow sales approaching a seasonally adjusted annual rate of 529,230 in July for single-family homes, up 2 percent from June. Sales ticked up to 15.3 percent in July year-over-year. That month marked the fifth straight time that California's median home price went up month-over-month and year-over-year.

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