NAR Tech Edge helps Realtors® Keep Abreast of the Latest Technologies
“The ever-changing technology landscape continues to transform the way that Realtors® and the real estate business operate. To help Realtors® keep up with the latest mobile and web-based technologies that can benefit their business and clients, the National Association of Realtors® is continuing its one-day technology conference series, NAR Tech Edge.”
Freddie Mac: Mortgage rates edge higher; 30-year average is 4.28%
“A five-week decline in fixed mortgage rates has ended, with Freddie Mac’s survey showing the 30-year home loan averaged 4.28% early this week, up from 4.23% a week ago.”
Southern California housing market loses momentum in January
“Southern California home buyers continue to turn their backs on an expensive market with few houses for sale.”
New Home Purchases Up Sharply in January 2014
“WASHINGTON, D.C. (February 13, 2014) — MBA estimates that sales of new single-family homes were running at a seasonally adjusted annual rate of 543,000 units in January 2014, based on data from MBA’s Builder Applications Survey.’While the big jump may appear to conflict with other data, such as MBA’s purchase application index and NAR’s existing home sales data that point to a weak market for existing homes, our Builder Application Survey estimate is consistent with reports of homebuilder sentiment that show strength in the market for new homes,’ said Mike Fratantoni, MBA’s Chief Economist. ‘It is also worth noting that the significant January increase also followed a particularly slow pace of sales in November and December.'”
Jobs Key to Housing Market Recovery: MBA’s Stevens (VIDEO)
“Feb. 12 (Bloomberg) — David Stevens, chief executive officer of the Mortgage Bankers Association, talks about the U.S. housing market and mortgage lending. He speaks with Adam Johnson, Scarlet Fu and Tom Keene on Bloomberg Television’s “Market Makers.” Steve Miller, non-executive chairman of American International Group Inc., also speaks. (Source: Bloomberg)”
Shaun Donovan optimistic about housing reform
“Housing and Urban Development Department Secretary Shaun Donovan on Wednesday said he is encouraged by the work being done in Congress to reach an agreement on what to do with government-owned mortgage giants Fannie Mae and Freddie Mac.”
Senate Banking GSE Reform Bill Nears Completion
“Senate Banking Committee leaders are expected to soon unveil their highly anticipated bipartisan bill to overhaul the mortgage finance market as the window for moving legislation this year continues to narrow.”
Mortgage Applications Continue to Slide
“Applications for U.S. home mortgages fell in the latest week as both purchase and refinancing applications slipped, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 2 percent to 397.2 in the week ended Feb. 7. The index hit its lowest level since December 2000 at the end of last year, soon after the U.S. Federal Reserve announced it would start reducing its $85 billion per month bond-buying program as the economy grows strong enough to stand on its own.”
RealtyTrac: Monthly foreclosure filings reverse course, rise 8%
“Monthly foreclosure filings — including default notices, scheduled auctions and bank repossessions — reversed course and increased 8% to 124,419 in January from December, according to the latest report from RealtyTrac.”
HOPE NOW assists 768,000 borrowers in 2013
“Approximately 768,000 homeowners received permanent, affordable loan modifications from mortgage servicers in 2013, according to HOPE NOW’s final 2013 loan modification data.”
Mortgage delinquency rate hits 5-year record low
“The mortgage delinquency rate hit the lowest level in 5 years and dropped below 4% for the first time since 2008.”
FHFA-OIG: GSE mortgage servicing needs oversight
“The Federal Housing Finance Agency Office of Inspector General released its latest report entitled ‘FHFA’s Oversight of the Servicing Alignment Initiative.'”
Blackstone-Fueled Single-Family Home Boom Lifts Chicago
“The tan, three-bedroom house on Chicago’s North Side sits half a block from a Family Dollar store and a pawn shop — an unlikely patch of gold to mine for Blackstone Group LP (BX) in the single-family rental market.”
Homebuilders Leading U.S. Consumer Stocks: EcoPulse
“Shares of U.S. homebuilders are leading consumer discretionary stocks as the new home market is poised to rebound faster than other cyclical purchases this year.”
(Much) more Chinese real estate money heading here
“San Francisco’s Kidder Matthews is partnering with a Chinese real estate consortium ‘to act as a bridge for Chinese business investment which wants to come to the Bay Area.'”
Woman’s young age doesn’t stop her real estate success
“KANSAS CITY, KS (KCTV) – Katie Yeager is a woman breaking multiple stereotypes. She is contributing to Kansas City’s entrepreneurial spirit and making money along the way.”
Beyond ‘frozenomics’: What’s hurting the housing market
“Ask any real estate agent east of Nevada, and they’ll blame slower home sales this winter squarely on harsh winter weather.”
Home values: 5 best markets for Q4 2013
“Home values were up 10.1 percent nationally from the fourth quarter of 2012 to the same period of 2013, according to data from the National Association of Realtors. See five hot markets where prices went up fastest.”
San Diego home sales at three-year low
“The slowdown in San Diego County’s housing market continued in January, as sales dropped to their lowest levels in three years.”
Fannie Mae Announces Homebuyer Incentive up to 3.5 Percent Closing Cost Assistance on HomePath Properties in the FirstLook Period
“WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today that homebuyers may receive up to 3.5 percent in closing cost assistance when they purchase a HomePath® property in 27 states during the FirstLookTM period. During the FirstLook period, owner-occupant or public entity buyers are able to submit offers on HomePath properties, giving them the opportunity to purchase homes without competition from investors. Fannie Mae recently announced the extension of the FirstLook period from fifteen days to twenty days.”
Interest Rates and HARP Participation Pressure Title Insurer Revenues
“2014 revenue growth for U.S. title insurers is likely to be constrained, said Fitch Ratings in a press release Wednesday. Fitch cites rising interest rates and Home Affordable Refinance Program (HARP) participation as a limiting factor for title insurers, who have experienced steady revenue growth and improving profit margins over the last two years.”
Experts Predict Level Playing Field as Investors Withdraw
“A majority of experts surveyed by Zillow and Pulsenomics expect large-scale investors will pull out of the housing market in the next few years—and that hopefully means a smoother field for consumer buyers.”