The First American‘s Real House Price Index discloses that the purchasing power has grown by 15.8% in July on the year-to-year chart. The monthly appreciation has been 2.2%. For the month of June, these figures were 13.7% and 1.1% respectively. The figures can be attributed to floor-low mortgage rates and salary gains. The Real House […]
The Financial Stability Oversight Council has conceded that increased financial strain on government-sponsored enterprises, ‘Freddie’ and ‘Fannie’, could hamper the cause of financial stability. The FSOC proposed that the organizations hold a much larger capital buffer. The FSOC, a regulator created by the Dodd-Frank Act to preside over the financial system for any imminent risk, […]
Starting October 1st, 2020, mortgage refinancing is set to get more expensive thanks to the Federal Housing Finance Agency’s (FHFA) 0.5% refinancing fees. Request a Refinancing Rate Quote FHFA initially announced this fee to be implemented in August but delayed the implementation to December 1st after hue and cry from the industry associations and some […]
The housing industry appears to be the only silver lining in an otherwise hampered broader economy. The squeezed inventory could however start affecting real estate shortly. While the new-home sales rose by 8.3% annually in August, new-home listings dropped by 4.1%, says Redfin. The fall in listings was 3.8% in July. Daryl Fairweather, Redfin’s Chief […]
Home price growth is expected to slow over the next 12 months as delinquencies rise, according to new data from CoreLogic. This comes despite the rise in equity American homeowners enjoyed during the second quarter of 2020. Despite the strong home-purchase activity in Q2, unemployment is expected to remain high for the rest of the year, […]
New-home sales in the closing week of August are at a far higher level than expected. This is largely due to really attractive mortgage rates. Riding on a very high demand in the South, new single-family homes sold 4.8% more than the last month, corresponding to an annualized pace of 1 million. This is about […]
Freddie Mac believes that the mortgage rates that have climbed by three basis points could come down near record lows shortly. Freddie Mac’s chief economist, Sam Khater, stated in a press release that the “Mortgage rates set several record lows over the last few months and have remained low into September. While there is room […]
The number of borrowers on the Coronavirus-forbearance are down but the Ginnie Mae market is proving to be an exception to the rule. The weekly report of the Mortgage Bankers Association for the week closing Sep 13 revealed a drop of 8 basis points for loans under forbearance. However, Ginni Mae’s securitized loans inched up […]
Remote online notarization (RON) has been on a high since the pandemic hit the town. Digital closings have allowed the housing industry to operate in times of social distancing and lack of in-person contact. However, Kimberly Smathers, Snapdoc’s Head of Information Security and Compliance stated during National Mortgage News Digital Mortgage conference’s panel discussion that the […]
Housing starts have performed below expectations in August, signaling lesser construction of apartments. This does not bode well for the broader economy because the housing industry is one of the few ignitions it has in the corona-infested 2020. Residential starts have come down by 5.1% compared to July, says a government report. Bloomberg had anticipated […]
