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September 14th, 20132.5 million mortgage borrowers no longer underwater
September 11th, 2013Miami has the highest percentage of underwater borrowers among metro areas. NEW YORK (CNNMoney) Thanks to a sharp increase in home prices last quarter, 2.5 million more mortgage borrowers no longer owe more on their homes than they are worth, according to CoreLogic. By the end of June, 7.1 million, or 14.5%, of mortgage borrowers…Read More »
Rise in interest rates could be overdone, or just starting
September 7th, 2013The first week of each month always brings the most news, the most important news and the newest news. The net result of this week’s load: a brief pause in the next leg up in long-term rates. For 40 years, one of the most reliable economic indicators has been the monthly survey of manufacturing purchasing…Read More »
More than 8 million homeowners are ‘resurfacing’
September 5th, 2013Portending relief for inventory-starved housing markets in the not-so-distant future, 8.3 million homeowners, or about 18 percent of homeowners with mortgages, will gain enough equity to sell their homes in the next 15 months without resorting to short sales, according to data aggregator RealtyTrac. “Steadily rising home prices are lifting all boats in this housing…Read More »
Mortgages will remain hard to get until common sense returns
September 4th, 2013Long-term rates stayed about the same this week, mortgages just above 4.5 percent for most products. There are many things to write about this week, but the most important news for most Americans is the first retreat from Dodd-Frank toward common sense. Economic data stayed in pattern — reasonable growth without acceleration. Overall orders for…Read More »
Higher Mortgage Rates Push Down Pending Home Sales
August 31st, 2013Higher mortgage rates negatively impacted pending home sales, according to new data from the National Association of Realtors. The Pending Home Sales Index, the leading measure of contract signings in the residential housing market, declined 1.3 percent from June to July, according to the latest numbers from the National Association of Realtors. Though the index…Read More »
Mortgages will remain hard to get until common sense returns
August 30th, 2013Long-term rates stayed about the same this week, mortgages just above 4.5 percent for most products. There are many things to write about this week, but the most important news for most Americans is the first retreat from Dodd-Frank toward common sense. Economic data stayed in pattern — reasonable growth without acceleration. Overall orders for…Read More »
Easing of rules a ‘victory for mortgage bankers’ and homebuyers
August 28th, 2013Mortgage lenders won’t have to retain a 5 percent “risk retention” stake when loans are securitized just because borrowers put less than 20 percent down, federal regulators said today in proposing new guidelines for “qualified residential mortgages.” A previous proposal to exempt loans with loan-to-value ratios of less than 80 percent from the 5 percent…Read More »
Home prices across the US defy gravity
August 27th, 2013Home prices are going up, up, up, but it’s not a bubble just yet. The surge in home prices over the past year may have some home buyers wondering if the market has gotten ahead of itself. Rising interest rates aside, housing prices in most parts of the country appear to have plenty of room…Read More »
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