Category Archives: housing market
S. California RE Sales Return to 2006 Levels
The Mortgage Corner DataQuick just reported Southern California homes sold at the fastest pace for an April in seven years amid the release of pent-up demand for move-up homes and high levels of investor purchases. This is while April new-home … Continue reading
Saving Fannie and Freddie—Part II
Financial FAQs The Federal Housing Finance Authority that supervises the so-called Government Supervised Enterprises (GSE), now including Fannie Mae and Freddie Mac, just announced restrictions that not only weaken Fannie and Freddie’s mandate, but the mortgage and housing markets in … Continue reading
Bank Lending Still Stingy
The Mortgage Corner The Federal Reserve just published its quarterly Senior Loan Officer survey on lending standards by the largest banks. They basically adhere to the strictest Fannie Mae and Freddie Mac guidelines for residential loans, such as minimum 620 … Continue reading
Will U.S. Growth Slow in 2013?
Popular Economics Weekly The naysayers are already at it. First Quarter GDP growth was 2.5 percent, slightly below forecasts. So many pundits are now saying it is a repeat of last year and the year before. An initial growth spurt … Continue reading
California Foreclosures Plunging, Sales Rising
The Mortgage Corner The number of California homeowners entering the foreclosure process plunged to the lowest level in more than seven years last quarter, reports DataQuick. The unusually sharp drop in the number of mortgage default notices filed by lenders … Continue reading
Saving Fannie and Freddie Mac
The Mortgage Corner Fannie Mae (FNMA), or Federal National Mortgage Association, reported a record profit for 2012, a good reason to save the mortgage giant from dissolution, as the banking industry in particular has lobbied for. The government-sponsored enterprise had … Continue reading
Higher Home Prices Driving Construction
The Mortgage Corner CoreLogic just reported home prices nationwide, including distressed sales, increased 10.2 percent on a year-over-year basis in February 2013 over February 2012. And it is boosting construction, as for sale inventories are barely increasing in the new … Continue reading
2013 Home Prices Soaring
The Mortgage Corner Housing prices are soaring, with both the S&P Case-Shiller Home Price Index 3-month average (for November, December and January) and FHFA conforming loan indexes accelerating. Mortgage delinquencies also continue to decline, which should help depleted inventories. The … Continue reading
Spring Housing Inventories Too Low
The Mortgage Corner The spring home buying season is already here, reports Realtor.com. In February, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,494,218) increased by 1.15 percent month-over-month. On an annual basis, … Continue reading
January Housing Prices, Mortgages, Surging
The Mortgage Corner CoreLogic reported that home prices nationwide, including distressed sales, increased on a year-over-year basis by 9.7 percent in January 2013 compared to January 2012. This change represents the biggest increase since April 2006 and the 11th consecutive … Continue reading
