“At least 31% of loans that were seriously delinquent during the mortgage crisis were modified and performed better when compared to unmodified seriously delinquent loans, according to new data from Moody’s Investors Service.”
Freddie Mac guides lenders through government freeze
“Freddie Mac is issuing temporary guidance to lenders to minimize disruptions to operations as the nation enters week two of the government shutdown.”
A sweet spot for move-up buyers?
“The peak home-selling season may have ended, but there some buyers are just getting started: those looking to sell a home and trade up. Is now a good time for these buyers to start their search? And what does this uptick in move-up buyers mean for the market?”
Home Asking Prices Rise 2% in September, Point to Slowdown
“NEW YORK (TheStreet) — Home prices are showing signs of moderating, with the latest report from online real estate information provider Trulia pointing to a cooling down in asking prices.”
Adobe says hackers accessed data for 2.9 million customers
“Adobe Systems said Thursday that hackers had accessed personal data for nearly 3 million of its customers.”
Mortgage rates fall, but shutdown may mean you can’t get a loan
“Mortgage rates have tumbled for the third straight week, with Freddie Mac pegging the 30-year fixed loan at an average of 4.22%, down from 4.32% last week to the lowest level since June.”
First-time homebuyers sidelined by financial challenges
“By most accounts, this year is shaping up to be a positive one for housing, with prices, sales and construction numbers consistently on the rise.”
Gains to the Real Estate Lords: Since 2009 Landlord income up a stunning 85 percent. Interest income has gone negative because of Fed monetary policy. Big money selling into momentum.
“The recovery in real estate has largely gone to big institutional players. Recent data from the US Commerce Department shows that rental income grew the fastest compared to other asset classes since 2009. Of course as we have chronicled over the last few years, most of the distressed property buying has gone to the investor class. The gains in rental income only impact a small portion of the population but the growth has been astounding. Rental income is now up 85 percent since 2009. Even stock dividends up at 44 percent have not met the pace of change in rental income. The trend is reflective of the insatiable demand from Wall Street for rental property over the last few years. Right on time however is the small investor jumping in at a tipping point as inventories rise, big money slows down, and interest rates have an impact on the housing market. Some big funds are even selling into momentum.”
Homebuilder ETFs Under Pressure As Government Drags Its Feet
“After swinging back in September, the housing market and homebuilder exchange traded funds could hit a snag as the government shutdown delays new home loans.”
Will Hottest Housing Markets Cool in 2014?
“The housing markets that have seen some of the biggest rises in home prices will finish the year strong — then the home-appreciation rates will likely start to cool in 2014, one company predicts.”