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Tag Archives: Housing Affordability

Group: Don’t Expect Housing Recovery Until 2014

As Fed officials hinted at more stimulus measures for the ailing economy, research consultancy Capital Economics released a note signaling that more trouble ahead for the housing sector could delay a recovery until 2014. Writing for the consultancy, senior U.S. economist Paul Dales painted a grim portrait of the housing economy, explaining that less confidence among consumers and tight lending standards contribute to the view that market conditions will keep a heel on the housing recovery until 2014.

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Fed Officials Promise More Action, See Trouble Ahead

Fed

On the same day that Federal Reserve Chairman Ben Bernanke cautioned lawmakers about their fiscal behavior and hinted at more stimulus measures, one of the Fed├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós governors, Sarah Bloom Raskin, outlined potential peril in the mortgage servicing industry. The Fed chief noted ailing health in the economy while the other official sketched a need for change in servicing standards. News reports found the 30-year Treasury bond yields leaping forward on the promise of action by the Fed chief.

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Survey: Most Real Estate Investors Expanding Portfolios

Over eight in 10 U.S. real estate investors are making moves to shore up their portfolios even as talk of a double-dip recession persists, according to a recent survey. More shocking: most of the survey respondents parted ways with Americans at large by agreeing that the economy is headed in a northerly direction. Conducting the survey in early August, Colliers International, a real estate services company, deployed the 2011 Colliers International Global Investor Sentiment Survey as a way to measure investor appetite for risk and optimism.

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What the Lower Conforming Loan Limits Mean

Making good on promises by policymakers from both parties, Congress allowed the $729,750 threshold for conforming loans with federal guarantees to expire Saturday, pinching high-end borrowers in a marginal number of counties and potentially leaving a swath of new market share for private bankers. Homebuyers looking for more than $625,000 in financing for their mortgage loans will accordingly fall short of eligibility requirements needed for federal insurance.

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MReport Exclusive: 6 Ways for Originators to Survive Today’s Market

Despite mortgage rates hitting rock bottom Thursday, few analysts expect an uptick in demand anytime soon, with consumers concerned about their job security, underwriting standards still tight, and a foreclosure glut competing with home construction. Given tough times, MReport canvassed the industry ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô online, in the field, and on the speaking circuit ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô and uncovered 12 strategies relevant to originators in a tough market. Six of these hot tips made it into MReport's online exclusive.

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Freddie: Plunging Mortgage Rates Smash New Records

Mortgage rates again smashed records Thursday by falling to new lows as investors continued to flee Europe, buying up safer U.S. Treasury debt, keeping interest rates low, and setting up all-time highs for housing affordability. Finance Web site Bankrate.com differed by posting slight upticks for the benchmark 30- and 15-year fixed-rate mortgages. According to the GSE, rates for the 30-year loan collapsed to 4.01 percent, while Bankrate.com duly noted a rise in interest rates for the 30-year loan to 4.30 percent.

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Mortgage Fraud Declines as Perps Bilk Lenders in New Ways

Experts anticipate that fewer fraudsters will move on residential mortgage originations over the remainder of the year, drawing a contrast with the number of times alleged perpetrators bilked lenders and homeowners over 2010, according to a new report. Releasing the study, CoreLogic offered up predictions that originations will fall to $7.4 billion over 2011 even as more people find new ways to defraud their victims. CoreLogic chalked up less fraud to simple economics.

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Home Prices Hold Steady in July Despite Economic Headwinds

The rocky economic landscape could give way to a smoother housing sector if recent home prices signal anything, with a major Standard & Poor├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós/Case-Shiller index revealing Tuesday a marginal uptick in numbers over July. Economists chalked up the gains to a seasonal boost and suggested more stability may be on the way for a troubled housing economy. The indices reflected a 0.9-percent boon for measures of activity across 10 and 20 major metropolitan cities, a consecutive four-month increase.

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Trulia: More Renters Still Want to Own Homes

Even with new-home sales tanking and recession fears redoubling over August, more renters clung onto the hope of homeownership, with 59 percent still aspiring to pocket a pair of keys and ink their names to mortgages, according to Trulia. The consensus: more than half of all homeowners believe in making the home their most important investment. According to Trulia, 70 percent of survey respondents held firmly to the idea that homeownership is central to the American Dream.

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