1. Incoming MBA Chair Sets Sights On Attracting First-Time Buyers
“Is it finally time to restore some balance to the mortgage market so more first-time homebuyers have access to credit? The leadership at the Mortgage Bankers Association thinks it is. And Bill Cosgrove intends to make the return of the first-time homebuyer his primary focus as the MBA’s incoming chairman.”
2. Why Republicans won’t enact housing-finance reform
“WASHINGTON (MarketWatch) — With Republicans expected to strengthen their position in Washington this election, the party has an opportunity to advance its agenda for a key economic sector: the housing market.”
3. What final mortgage rule may mean for housing market
“In late October, six U.S. government agencies finalized a rulerequiring lenders that bundle and sell mortgages as securities to retain ownership of a portion of those loans – a way to provide accountability.”
4. Zillow: Millions of potential houses lost to “doubling up”
“It’s not just millennials that are moving back in with mom and dad. The number of Americans living with roommates or adult family members jumped to more than a third of U.S. adults in 2012, up from 27.4% in 2006, a new report from Zillow said.”
5. Nobody Mourns Death of QE as Treasuries Prove Insatiable
“Even with the end of unprecedented bond purchases from the Federal Reserve, demand for U.S. Treasuries looks as strong as ever.”
6. US Construction Spending Down for Second Month
“U.S. construction spending fell for a second straight month in September as a slight rebound in housing was offset by further declines in nonresidential building and in government projects.”
7. Freddie Mac: Cash-Out Refis Double in 3Q
“Nov. 4, 2014–Sorohan, Mike msorohan@mba.org
Freddie Mac, McLean, Va., said the share of borrowers tapping their equity by cashing out at the time of refinance doubled in the third quarter from a year ago, a result of broad-based house price appreciation.”
8. Why GSE support of low-down payment mortgage is not bad
“Not everyone in the industry is on board with the Federal Housing Finance Agency’s recent move to encourage lenders to issue mortgages with down payments as low as 3% due to concerns that it would lead to more defaults.”
9. Here’s the status update for the top 5 housing markets
“The housing market remains on edge heading into the rest of 2014 as broad-based demands challenges remain an issue.”
10. Mortgage credit availability drops again
“Mortgage credit availability dropped in October according to the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association.”
11. 10 Reasons Why Your Home Isn’t Selling
“Wondering why your home is still sitting on the market after weeks-or even months-of showings? Can’t figure out why your open houses are well-populated but nothing ever comes of them? Or maybe no one is coming to your open houses at all?”
12. REAL ESTATE: Apartment rent on the rise
“Rent has been on the rise in every market across the U.S., and the apartment scene in the Inland area is no exception.”
13. Mortgages: Do We Need Inflation?
“Real estate needs a pick-me-up, something of a surprise considering that home values remain below 2007 prices and mortgage rates continue to hover around 4 percent. Bargain prices and discount mortgage rates should result in soaring sales but that isn’t the case: Existing home sales trail 2013 levels and sales to first-time buyers are well-below historic norms, a real red flag.”
14. The Biggest Drag on Homeownership: Down Payments or Debt?
“RealtyTrac recently analyzed affordability in more than 500 counties nationwide, looking at the impact of lowering the down payment for conventional loans (those that can be sold to Fannie Mae and Freddie Mac) from the traditional 20 percent to as low as 3 percent — as has been suggested recently by FHFA director Mel Watt as a way to ‘increase access for creditworthy but lower-wealth borrowers.'”