Category: News Updates

1.Bubble Watch: Local Worries, National Calm
“Although national home prices rose significantly in the past two years, they’re still 5% undervalued compared with long-term fundamentals. Home prices today look overvalued in 19 of the 100 largest metros, including 8 of the 11 large California metros.”

2.More Americans are renting: why the cost is so high (+video)
“For most Americans, there seem to be two types of rental housing in the US these days: pricey and unaffordable.”

3.Rahm Emanuel: Given a choice, Americans want cities over burbs
“The suburbs are losing out to cities when it comes to where people want to live, according to Chicago Mayor Rahm Emanuel.”

4.U.S. home sales fall, but consumer confidence hits six-year high
“Sales of new U.S. single-family homes hit a five-month low in February, but a surge in consumer confidence to a six-year high in March suggested the economy was regaining momentum after being held back by severe weather.”

5.New-home sales fell across most of U.S. in February
“Sales of recently built homes fell back in February, as harsh weather and high costs held back buyers.”

6.The Pro’s and Con’s Of Borrowing From Your 401(K) To Finance a Home Purchase
“According to the National Association of REALTORS® 2013 Profile of Home Buyer and Sellers, 8% of first-time buyers borrowed from their 401(k) retirement accounts as a source of downpayment money. It’s a good bet that a significant number of potential first-time buyers, as well as others, are not acquainted with how this works. It’s also a good bet that, among those with the ability to use 401(k) funds, many are not familiar with the pros and cons of doing so. “

7.MBS MID-DAY: Economic Data Fails to Inspire Much Market Movement
“A good thing to keep in mind about any data-based conclusion in financial markets is that details matter.  This is true both in terms of the reference to market movement in the headline as well as several of the day’s economic releases.”

8.New Home Sales Turn Negative Year-Over-Year, First Time Since 2011
“After rising by a revised 3.2 percent January, New Home Sales fell 3.3 percent in February according to data released today by The Census Bureau and the Department of Housing and Urban Development.  The annualized sales pace of 440k homes is the lowest since September 2013.”

TonyAlvarez.com

1.Wealthy Chinese home buyers boost suburban L.A. housing markets
“The overflow from China’s economic high tide is transforming the housing markets of suburban Los Angeles”

2.Carrington ups ante on Wells Fargo by lowering FICO standard
“Carrington Mortgage Services lowered its minimum FICO score to 550 and expanded its guidelines on a number of FHA, VA and USDA loan programs in order to better focus on underserved borrowers, typically those in the sub-640 FICO score range.”

3.Monday Morning Cup of Coffee: Foreclosures down 500K from last year
“Monday Morning Cup of Coffee takes a look at news crossing HousingWire’s weekend desk, with more coverage to come on bigger issues.”

4.Warren Buffett Reveals His Secrets for Investing in Real Estate
“There is no lack of information available about the institutional investment strategies of the world’s billionaires — how they move money in their capacity as the heads of large public companies and investment funds — but how often do you get the chance to look inside the personal investments of those billionaires? And how often does a billionaire offer you insights that you can use in your investing?”

5.Do you have what it takes to be a real estate rainmaker, or will you remain a buyer’s agent? 4 clues
“In real estate, nothing happens until you generate a lead. Whether you want to be a top-producing salesperson or the head of a successful agent team, successful “rainmakers” differ from lower-producing agents in a variety of ways”

6.Life After Fannie and Freddie
“The Senate Banking Committee has released a draft of a new plan to replace government-sponsored entities Fannie Mae and Freddie Mac. The new Federal Mortgage Insurance Corporation (FMIC) would guarantee conforming loans and provide regulation for turning government-guaranteed loans into mortgage-backed securities. “

7. Seven bold commercial real estate predictions
“Conjuring the future of commercial real estate begins by conjuring our future. How will we work, live, shop or do business? Perhaps no other investment sector is so closely tied to people’s most fundamental needs and behaviors; its evolution, to a large extent, follows ours. “

TonyAlvarez.com

1.5 Biggest Bang for Your Buck Home Improvements
“Almost immediately after buying and moving into our current house in 2007, we began renovating it. We knew, as devout DIYers, that home renovations would be our constant companion, because we chose to buy a house that was built in 1961 and never updated. That meant harvest gold in the kitchen, a blue tub and blue sinks in the master bath, and wallpaper throughout.”

2.Stocks pull back from record highs
“Brace yourself, it’s going to be a bumpy ride. Stocks soared right out of the gate Friday, but the momentum is already starting to fade.”

3.Subprime mortgages making a comeback
“Borrowers with bad credit were shut out of the mortgage market after the housing bubble burst, but now a handful of small lenders are starting to offer subprime loans again.”

4.S&P 500 Climbs to Record on Economy While Dollar Weakens
“U.S. stocks rose, with the Standard & Poor’s 500 Index touching a record, amid optimism in the strength of the world’s largest economy. Emerging-market equities rose, led by the biggest gain in five weeks for Hong Kong-listed Chinese shares, and the dollar weakened. “

5.The Mortgage Professor: Questions, answers on reducing loan balance
“Homeowners with a mortgage usually want to reduce their interest cost by paying down the loan balance as fast as possible. This column is about what borrowers can and cannot do on their own. Next week, I look at various schemes that claim to make the task easier.”

6.US stock market heads for a solid weekly gain
“NEW YORK — The stock market looked ready to finish off a turbulent week with solid gains Friday. Investors brushed aside concerns about higher interest rates and trouble with Russia. The Standard & Poor’s 500 index was on track to close at an all-time high.”

7.The Trillion-Dollar Battle For Higher Mortgage Rates
“If you’re a mortgage borrower your great goal in life is to get a lower rate. While 2012 saw the lowest mortgage rates in 65 years, 2013 and early 2014 have not been far off the mark.”

8.Stress Test Shows 29 of 30 Banks Meet or Top Capital Target
“The Federal Reserve (FDTR)’s annual stress tests found 29 of the 30 largest U.S. banks could withstand a deep recession and still pay dividends, fueling speculation about which firms will win approval next week to raise payouts. “

9.A Cost VS Value Opinion
“Before you invest in remodeling, it’s wise to think about upgrades that get you back the most back money when you resell.”

10. 2013 vs 2014 Real Estate FACTS. No Smoke. Just FACTS.
“I can go on for days describing the past year’s real estate market. Tell you my thoughts, opinions…then, my opinions again. Then, maybe again. But, I know that there is nothing more convincing than pure, raw FACTS. Just ask a dinosaur. “

 

TonyAlvarez.com

1.Zillow launches mortgage pre-approval tool
“In light of the market heading into the spring buying season, Seattle-based Zillow (Z) launched its new mortgage pre-approval tool that allows home shoppers to get pre-approved for a mortgage quickly and easily.”

2.U.S. Stocks Gain After Data Offset Rate-Rise Concerns
“U.S. stocks rose after better-than-forecast data on leading indicators and regional manufacturing fueled optimism in the economy, offsetting comments that interest rates may rise in the middle of next year. “

3.Sales of US Existing Homes Slip to 19-Month Low
“Sales of U.S. existing homes slipped in February to their lowest level since July 2012 as severe winter weather, rising prices and a tight supply of homes discouraged buyers.”

4.Fastest, slowest moving housing markets
“As the home buying and selling season kicks off, many people will have an eye on inventory levels — especially in the country’s tightest markets”

5.US home resales drop 0.4% to 19-month low
“U.S. home resales dropped slightly in February to a 19 month-low as cold weather and a shortage of homes for sale continued to sideline potential buyers. A separate survey showed factory activity in the U.S. mid-Atlantic region expanded far more than expected in March. “

6.3 reasons THIS spring could save chilled housing
“The housing recovery has been suffering from a winter cold that’s created a “low inventory problem,” but that could change now that spring has finally arrived, Realogy’s Richard Smith told CNBC on Thursday.”

7.Existing-home sales slowest since July 2012
“WASHINGTON (MarketWatch) — Hurt by rising mortgage rate and prices, the sales pace of existing homes ticked down last month, hitting the slowest rate since July 2012, according to data released Thursday. “

8.Tom Reddin: Where are mortgage rates headed in 2014?
“Around this time last year, I forecast that mortgage rates would increase in 2013. Back then, rates on a 30-year fixed mortgage were hovering around 3.5 percent. I predicted that we would see a gradual rise in 2013 to 4 percent or so.”

9.Budding Economic Growth Expected in Spring and Summer As Harsh Winter Fades
“WASHINGTON, DC – Despite a deterioration in economic activity at the end of 2013 that has continued through the first quarter of this year, growth is expected to pick up in the second quarter and build throughout the summer, firming to approximately 2.7 percent for all of 2014, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group. The near-term outlook remains somewhat clouded due in part to an unsustainable build-up in inventory in the second half of last year and as downside effects from the winter have yet to fully materialize. However, the return of weather to seasonal norms should help boost growth in the second quarter, supported by consumer spending, business investment, and housing starts.”

10.Get your Zillow profile and listings firing on all cylinders and leads flowing directly into your CRM
“Get your Zillow profile and listings firing on all cylinders and leads flowing directly into your CRM Insights from Zillow’s Greg Schwartz”

11.Treat everyone like they’re your only real estate client, not ‘leads’
“Being a real estate agent doesn’t have to be about capturing thousands of leads on the Internet so that we can convert a small percentage of them into customers.”

12.Real Estate Marketing Strategies: 3 Essential Steps to Working Smarter, Not Harder
“Can you understand now why you might sabotage your success? Why would anyone every want to suffer like that?”

13.Existing Home Sales Lowest Since July 2012
“Existing Home Sales, which are completed transactions for single-family homes, townhomes, condominiums and co-ops, continued trending lower in February, falling to their lowest level since July 2012 according the the National Association of Realtors (NAR).  Compared to last month’s reading of a 4.62 mln annual pace in January, today’s 4.60 mln is essentially unchanged. “

TonyAlvarez.com

1.Southern California is a real estate seller’s market this spring
“As the busy spring real estate season gets into gear, sellers appear to have the upper hand across much of Southern California.”

2.Mortgage Applications Decrease in Latest MBA Weekly Survey
“WASHINGTON, D.C. (March 19, 2014) — Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 14, 2014.  “

3.US Homebuilder Confidence Edges Higher in March
“U.S. homebuilders’ confidence in the housing market edged higher this month, reflecting improved demand for new homes as the traditional spring home-selling season ramps up.”

4.Zillow rates Cincinnati a top market for home buyers
“Cincinnati is one of the best markets for home buyers this buying season, according to a new ranking from real estate website Zillow.”

5.Homebuyers eager for spring real estate price thaw
“Consumers planning to jump into the real estate market this spring will need to reassess pricing, whether they are looking to buy or sell. “

6.New doomsday poll: 99.9% risk of 2014 crash
“SAN LUIS OBISPO, Calif. (MarketWatch) — Global risks are accelerating. This is our fourth major poll update of industry leaders: A critical review of their warnings from early last year when we first predicted a 87% risk of a crash: Bernanke’s Fed saw an “unsustainable bubble” … Gross: “credit supernova” … Gundlach: “kaboom ahead” … Ellis: “Don’t own bonds” … Shilling: “shocker” … Roubini: “Prepare for perfect storm” … Shiller: “Irrational exuberance is back” … Schiff: “Doubling down” on “doomsday” prediction … InvestmentNews’ warning 90,000 advisers: “tick, tick … boom!” “

7.Why Real Estate Has Begun To Stabilize
“If you want to make lenders happy — and if you want to enjoy low mortgage rates — then the best and most-certain approach is to avoid delinquencies and foreclosures.”

8.Zillow: Market conditions growing more local
“Different regions will offer diverging levels of negotiating power for buyers and sellers across the country heading into the spring homebuying season, signaling advancement toward a healthier housing market where market conditions tend to be local rather than national, according to a recent analysis by Zillow. “

9.Auction.com, private equity firms bankrolling house flippers
“Private equity firms and other nonbank investment companies including Arixa Capital Advisors LLC, Oaktree Capital Group LLC and Auction.com LLC are fueling a revival in home flipping by offering small investors short-term financing to buy and renovate properties — deals that banks are still shy to fund, Bloomberg News reports. “

TonyAlvarez.com

1.Housing starts dip slightly in February; permits surge
“Construction of new housing units remained essentially flat last month compared to January as builders struggle to ramp up construction.”

2.Despite big jump in food prices, inflation remained tame last month
“WASHINGTON — Despite a sharp jump in food costs, consumer prices increased just 0.1% last month in an indication inflation remains in check, the Labor Department said Tuesday.”

3.Housing Starts in U.S. Little Changed From Stronger January
“Housing starts in the U.S. were little changed in February after declining less than previously estimated a month earlier, indicating the home-building industry is stabilizing after bad winter weather curbed construction. “

4.How to buy a house that isn’t for sale
“Some buyers are getting creative when low inventory levels threaten to crush their home-buying dreams: They’re writing letters to homeowners, asking if they’d be interested in selling. “

5.Housing starts slide for 3rd straight month; price pressure dormant
“U.S. housing starts fell for a third straight month in February, but a rebound in building permits offered some hope for the housing market as it struggles to emerge from a soft patch.”

6.Americans’ economic confidence up slightly
“Americans continue to be more negative than positive about the economy but they are currently somewhat less negative than they have been at other points since 2008, including during the fiscal crisis, periods of high unemployment, and government battles over the debt ceiling and trimming the federal budget, according to the latest survey from Gallup Inc.”

7.Ten hidden costs of commercial real estate — part 1
“Although all known circumstances of a property need to be disclosed to a buyer by the seller as stated in a purchase agreement, issues creep up over the years of ownership. Laws change, improvements are made to the property, tenant’s needs change and some issues may not had been fully researched at the time of the purchase.”

8.Early Spring Thaw in Homes for Sale? Listings Up 10%

“Brutal winter storms in much of the country didn’t stop home sellers from being optimistic about the housing market, with 10 percent more properties for sale nationwide in February compared to a year ago, according to data released today by realtor.com. The median list price increased 7.6 percent to $199,000 during the same time, according to the National Housing Trend Report.”

9.California home inventory rises as sellers gear up for spring
“California home sales fell year over year for the seventh straight month in February, though inventory rose as sellers gear up for the spring homebuying season, according to the California Association of Realtors.”

10.Who Owns Agency MBS? Is Fannie & Freddie’s Future Set? The MBA Weighs in
“What is the MBA applications number going to tell us tomorrow? My bet, given stories from lock desks around the nation, is that we’ll see an improvement last week. Zelman & Associates, in its Mortgage Originator Survey, notes, “Despite weather and limited inventory constraining greater purchase acceleration, according to contacts, robust inquiry and pre-approval volume bodes positively for future origination business for well-positioned lenders. Despite the relative improvement in purchases, depressed refinance activity and greater competition for purchase business has eroded lender profitability as reflected in the 15 basis point compression in the primary-secondary spread since the near-term peak in April 2013 and decline in our profitability index”

TonyAlvarez.com

1.SmartZip Analytics Named to REach’s 2014 Accelerator Class

“The National Association of Realtors® today announced that SmartZip Analytics, the national leader in real estate analytics and predictive marketing, is the first company selected to join the 2014 class of REach™, the strategic growth technology accelerator founded and managed by NAR’s investment arm, Second Century Ventures.”

2. 4 million homeowners climb out of negative equity
“WASHINGTON — The economy may be growing at a frustratingly slow pace, but one piece of it is booming: American homeowners’ equity holdings — the market value of their houses minus their mortgage debts — soared by nearly $2.1 trillion last year to $10 trillion.”

3.Fannie Mae Wind-Down Deemed Threat to Home Recovery: Mortgages
“A U.S. Senate plan to dismantle Fannie Mae and Freddie Mac (FMCC) may deliver an unintended blow to a fragile housing recovery.”

4.Following Buffett’s teachings
“It’s written by one of the world’s richest men, it’s 24 pages long, and it’s one of the best how-to guides that I can think of for young investors.”

5.Zombie properties are dead weight for municipalities
“Instead of bringing in revenue through property taxes, they become a financial burden to municipal governments, which are forced to maintain them. Such properties often become magnets for crime, graffiti and arson. They also depress the value of houses and other properties nearby.”

6.Fannie, Freddie bill leaves status of private shareholders to courts
“A draft bill to wind down government-run mortgage financiers Fannie Mae and Freddie Mac, released by two leading U.S. senators on Sunday, would leave a decision on how to treat their private shareholders to the courts. “

7.Seller Finance Strategies a Secure Way to Invest in Property in Any Market Condition, Reveals Rick Otton
“Rick Otton, renowned property coach in Australia and the UK, will share how investors can adapt to changing real estate market conditions using seller finance strategies when he hosts his highly anticipated event training event Zero Debt Property Cash Flow Bootcamp on 21st – 23rd March, 2014.”

8.The liberation of real estate data: does having readily available real estate information encourage the boom and bust cycle? Zillow reaches 70 million unique users per month.
“You can’t stop the internet when it comes to real estate data.  Zillow is a great example of technology revolutionizing the way people view real estate.  “

9.How Much Will An End To Fannie Mae and Freddie Mac Cost You?
“How does a 20-percent mortgage rate hike sound to you? Or maybe more? That might be the effective result if a new GSE “reform” agreement on Capitol Hill ever makes it through the legislative process. “

10.Summary of Newly-Released Housing Reform Bill
“As promised last week, the leadership of the Senate Banking Committee has released draft legislation to revamp the nation’s housing finance system.”

TonyAlvarez.com

1.U.S. Stocks Fluctuate as Investors Watch Ukraine Crisis
“U.S. stocks fluctuated, after the Standard & Poor’s 500 Index lost the most in five weeks yesterday, as investors analyzed a drop in a gauge of consumer confidence and watched developments on Ukraine. “

2.When to pay off your mortgage aggressively
“The clear advantages of paying off your mortgage as quickly as possible have changed quite a bit over the past few years. The urgency to pay it off has somewhat diminished, as interest rates have plummeted to historical lows. It’s no longer the black and white decision it was back when interest rates hovered between 6% and 9%, and even the 11% to 13% we saw a couple of decades ago.”

3.Five things that could go wrong for markets: Bank of America Merrill Lynch
“Stocks are at an all-time high, bonds and foreign-exchange volatility is at one-year lows and 21 strategists expect the S&P 500 SPX -0.20%  to finish the year above 1,850. What could possibly go wrong?”

4.Buffett: It would surprise me if stock prices drop 50%
“Warren Buffett told CNBC on Friday he would be “surprised a lot” if stock prices around the world fell 50 percent from their current levels in the near future.”

5.Mortgage Rates Edge Up, Remain Near Historic Lows
“WASHINGTON — Average U.S. rates on fixed mortgages rose last week but remained close to historically low levels.”

6.Real Estate Marketing Strategies: Do You Need To Be Lucky to Succeed?
“While working with one of my clients today, helping her to release her self-limiting beliefs; she brought up the old belief that she had been carrying for decades. “I have to be lucky to succeed.”

7.What Does Low Inventory Mean for Home Sellers?
“If you’re thinking of buying or selling a home, you’ve probably heard all sorts of terminology thrown around, and some of it might seem a little confusing. Perhaps you’ve heard that it’s a “buyer’s market” or a “seller’s market.” But what do these terms actually mean and how can they influence your home sale?”

8.Akerman survey: Overwhelming majority of real estate execs confident in CRE market today
“Top real estate executives expect a stronger commercial real estate market in 2014. That’s the good news, and the most important takeaway, from the 2014 Akerman Real Estate Industry Outlook Survey.”

9.Why This 99-Year-Old Real Estate Agent Still Works Every Day

” Real estate agent Stewart Wade rises at 5:30 or 6 most mornings, swims 500-600 strokes in the Pacific, and then heads to work by 8 a.m. It’s pretty impressive for anyone, but especially for a 99-year-old.”

10.Redfin Real Estate Report: February Home Prices up 13%; Sales Drop 10.3%

“Home sales continued to be sluggish in February, and decreasing affordability is holding back would-be buyers, according to Redfin (www.redfin.com), the technology-powered real estate brokerage. Slow sales have been largely attributed to low inventory for months, but many markets have now seen inventory rise while sales continue to fall. Several markets along the West Coast have seen sharp increases in inventory, yet home sales in the West fell 13.4 percent year over year, hitting their lowest point in five years in the first two months of 2014, while prices rose 19.1 percent year over year. Across 19 markets nationwide, prices rose 13 percent over last year, while home sales dropped by 10.3 percent. “

1.The Numbers Every Home Buyer Needs to Know Now

“What’s your number? If you are a home buyer and can’t answer this question, it’s time to hit the pause button before getting too far in the process.”

2.Zombie foreclosures still weighing on housing markets
“Foreclosures have hit their lowest level in years, yet many cities report they are still struggling with the blight of “zombie foreclosures.” “

3.Applications for New Home Purchases Increased in February 2014

“WASHINGTON, D.C. (March 13, 2014) — The Mortgage Bankers Association (MBA) estimates sales of new single-family homes were running at a seasonally adjusted annual rate of 533,000 units in February 2014, based on data from MBA’s Builder Applications Survey (BAS). “

4.REAL ESTATE: February home sales lackluster, as prices continue to rise
“Real estate signs that herald the sale of a house and its escrow status have become more commonplace in the Riverside County region. Although a stronger pool of buyers in 2013 and early 2014 has led to advertised transactions like these, real estate professionals describe the inventory as of February as constrained. “

5.Seattle home sales drop 5% in past year
“Home sales in Seattle have dropped slightly more than 5 percent in the past year, but that’s less than the national average drop of more than 10 percent.”

6.Investors and the DC Real Estate Market
“I wanted to find an investment property that I could fix up and rent out. Can you help me with that?”

7.Real estate agents can safely ignore people with things to sell who position themselves as experts
“Sometimes the companies that build technology for real estate agents and the “experts” who make a living giving us advice don’t seem to understand what our clients actually expect of us.”

8.February foreclosure filings fell by 10 percent from January
“U.S. foreclosure filings in February fell to the level in more than seven years, and dropped 10 percent from January, RealtyTrac reported Thursday.”

9.New Millennium Realty – RebateState Announces Rebates for Buyers and Sellers
“Layton, Utah March 2014- New Millennium Realty – RebateState (http://www.rebatestate.com) is revolutionizing the way people buy and sell homes in Utah by offering both buyers and sellers rebate checks up to a 40%.”

10.Foreclosure starts drop to 8-year low
“Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 112,498 U.S. properties in February, a 10 percent decrease from January and down 27 percent from February 2013 to the lowest monthly total since December 2006 — a more than seven-year low, according to a report Wednesday night from foreclosure information company RealtyTrac Inc. of Irvine.”

11.Foreclosures Hit Lowest Level Since 2006, Says RealtyTrac
“Foreclosure activity dropped in February to its lowest level in more than seven years, data released by RealtyTrac today shows. A total of 112,498 foreclosure filings—default notices, scheduled auctions, and bank repossessions—were recorded during the month. That’s the lowest level since December 2006.”

12.Mortgage Rates Edge Up, Remain Near Historic Lows
“WASHINGTON — Average U.S. rates on fixed mortgages rose last week but remained close to historically low levels.”

13.Zombie Foreclosures: The Vacant Dead
“One in every five homes in the foreclosure process is sitting vacant, abandoned by the distressed homeowner and not yet repossessed by the foreclosing lender. With no one to maintain them, these zombie foreclosures are falling into disrepair, attracting vandalism and other crime and dragging down the values of nearby homes in the neighborhood.”

14.Premium placement of listing agents’ contact info at odds with who deserves consumer leads

“Real estate agents, broker-owners and multiple listing services are rightfully concerned about two major issues when it comes to syndication to listing portals: data accuracy and an issue that has become known as “the three-headed monster.”

15.After Rising Last Month, Foreclosures Snap Back to 8 Year Low

“After spiking 8 percent in January, foreclosures filings have resumed their downward spiral RealtyTrac said today.  Its U.S. Foreclosure Market Report for February notes that filings, including default notices, scheduled auctions, and bank repossessions or completed foreclosures, decreased by 10 percent from January and were 27 percent below levels one year earlier.  There were a total of 112,498 filings during the month, the lowest monthly total since December 2006. “

16.West Coast Home Sales Hit Lowest Point in Five Years
“The Redfin Real Estate Real-Time Price Tracker is a monthly report on home prices, inventory and sales volume that offers a clear and current read on the U.S. real estate market, coming weeks or months ahead of other market reports. As a brokerage with access to Multiple Listing Services (MLSs), Redfin gets data within minutes of a sale, pending sale or listing activation, well before any government, media or analytics organization.”

17.Freddie Mac: Mortgage rates on 30-year loan rise from 4.28% to 4.37%
“Mortgage rates edged higher early this week, with Freddie Mac’s survey showing lenders offering 30-year fixed-rate loans to solid borrowers at 4.37%, up from 4.28% a week earlier.”

18.Southern California home prices flat, sales tumble in February

“Southern California home prices held steady last month while sales tumbled to a six-year low, further evidence that the market has stalled after a torrid rebound.”

Tonyalvarez.com