Shared by Uros Kralj
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Rates Up, But Trending Down
Right now (mortgage interest) rates are still only marginally above the lows that we were seeing during the first half of this year. We'll see what the economic data brings to us hopefully next week.
Shared by Geoff Smith in Weekly Market Report
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The seasonal slow down for home buying has begun. Even so, we are nearing the pre-housing crisis home values. Interest rates declined from 4.5% to 4.3%.
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According to CBS MoneyWatch, home values are finally starting to cool off after a year of explosive growth comes to a close.
“Far from being a negative sign, we're relieved to see more noticeable signs of cooling in the market," Zillow chief economist Stan Humphries said in a release. "If home values continued to rise as they have, relatively unchecked, we would almost certainly be headed into another bubble cycle, and nobody wants that.” HousingWire
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Fannie Mae's National Housing Survey findings show “Hispanics are more likely than the general population” to choose owning over renting. -- Amilda Dymi
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Shared by Uros Kralj
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Nat'l Real Estate Post:
It seems that Freddie and Fannie may be set for a reprieve. Congress is reconsidering cutting loose the GSE's. That is a good step.
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"Increasing home prices over the past 18 months combined with decreasing foreclosures have created a market less favorable to the high quantity of middle- to low-end bread-and-butter flips that we saw late last year and early this year," said Daren Blomquist, vice president of RealtyTrac. -- Brena Swanson in HousingWire
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Mortgage servicers modified 67,000 home loans in August, up 8% month-over-month, bringing the total amount of loans modified since 2007 to 5.4 million, Hope Now said Wednesday. -- Christina Mlynski in HousingWire
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One in five mortgages originated today would fail the litmus test for obtaining heightened legal protections under the qualified mortgage rule’s safe harbor provision, according to a test trial conducted by ComplianceEase. ( This means that mortgage companies will go out of business and the price of getting a mortgage will rise. Fewer people will qualify to buy homes.) -- Keri Ann Panchuck in HousingWire
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Shared by Uros Kralj
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Economists and analysts from nearly 40 of the country's leading real estate organizations say there will be continued improvement in residential real estate, commercial mortgage-backed securities and industrial sectors. --
Jill Pierce is Team Leader for RealEstateAuctions.com
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