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“April’s Housing Scorecard shows that the housing market is stabilizing, as home prices have risen nearly 7% from last year, and foreclosure completions are at their lowest level since mid-2007,” said HUD Assistant Secretary for Policy Development and Research Katherine O’Regan.
“However, the harsh winter, fewer distressed properties on the market, and continued tight credit standards have combined to slow the pace of home sales this month, indicating we need to remain vigilant to keep the recovery robust.” -- Ben Lane in HousingWire http://www.housingwire.com/articles/29967-scorecard-housing-is-trending-positively
---------------------------------------------Shared by M. Freidrich, Belgien, Brugge
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The creation and rehabilitation of rental housing is another way affordable housing goals can be advanced. Not every person is cut out to be a homeowner. They are entitled to have a safe environment to live in as well.
Fannie Mae and Freddie Mac's multifamily lending programs remain successful providers of capital to help meet these needs. Any reform must include the continuation of these programs. -- Brad Finklestein in Origination News http://www.nationalmortgagenews.com/blogs/hearing/politics-not-economics-keeping-affordable-housing-down-1041744
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Mortgage applications for new home purchases edged up by 5% in April from the revised March pace of 400,000 units, according to the Mortgage Bankers Association’sBuilder Application Survey.
Individually, conventional loans composed 68.4% of loan applications, FHA loans composed 15.8%, RHS/USDA loans composed 1.6% and VA loans composed 14.2%. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/29970-mba-new-home-purchase-mortgage-apps-rise-5
----------------------------------------------------Shared by Uros Kralj, Chiago, Illinois
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Last week, Freddie Mac reported that mortgage rates dropped for the fourth time in five weeks, reaching an all-time low of 4.21% on a 30-year fixed, the lowest its been since November 2013. This is from the high point in January where rates flirted with 4.75%.
This is a boon for homebuyers, but what does it mean for the industry, and where will interest rates go?
1) You Can’t Fake a Recovery
2) Lack of Inflation
Rising inflation deflates the demand for mortgage bonds. Prices drop and rates move higher. But since there’s been almost no inflation, demand for bonds means mortgage rates sink.
3) The Taper Will Continue Until Morale Improves
Trey Garrison in HousingWire http://www.housingwire.com/articles/29974-things-to-know-about-interest-rates-for-the-rest-of-2014
-----------------------------------------------------America’s population maps were utterly predictable since the 1950s. Inner cities teemed with poor ethnic minorities, while wealthy and middle class white people lived in sprawling suburbs. Out in the countryside was a mixture of very wealthy and very poor folks.
Trends change, and I think we’re seeing one now. If the rich and the poor keep trading places, our country will look much different in the future.
If this is the future, it could affect almost everyone who owns a suburban home. Neighborhoods will change character and property values could fall.-- Brad Hoppman in Uncommon Wisdom Daily
http://www.uncommonwisdomdaily.com/americans-change-class-poverty-to-suburbs-wealth-downtown
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Shared by Dieter Birr, Strasbourg, France
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Nat'l Real Estate Post:
Are you hearing us? The government is running one of the biggest companies in the world like a bunch of amateurs. Who runs a business and takes 100% of the profits every month out of the business? Answer – idiots. So now there’s another G-Fee on the way. A G-Fee is to guarantee the loan being made. So if it goes into default there’s some money to work with. Where do these G-Fee’s go? Answer – The Treasury. So if they go to the Treasury who’s guaranteeing the loans? Answer – Apparently no one. So what we’ve got here is a bunch of money going to the government at the expense of the homeowner. It’s a tax. And all this GSE crap is nothing more than a bunch of political grandstanding. The governments handling of the GSE’s is the single most appalling betrayal to come out of the mortgage meltdown. Again, tune in to learn more and please forward this along. Enough is enough. http://thenationalrealestatepost.com/worst-hidden-homeowner-tax-ever
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....Debra Still, the president and CEO of Pulte Mortgage, and Sterne Agee, saying that mortgage credit lending conditions are more likely to loosen than tighten over the next 12 months. Brena Swanson in HousingWire http://www.housingwire.com/articles/29982-pulte-mortgage-ceo-4-facts-that-could-catapult-housing
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Shared by M. Friedrich, Belgien, Brugge
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The Lone Star State continues its 10-year historical position as the best state overall; but Florida, which ranks No. 2, is edging up and even overtaking Texas in its quality of living environment.
- Texas
- Florida
- Tennessee
- North Carolina
- South Carolina
- Indiana
- Arizona
- Nevada
- Louisiana
- Wisconsin
Under the four-year HAWK pilot program, homebuyers who commit to housing counseling will qualify for tangible savings on their FHA-insured loans. The average buyer would save approximately $325 a year, or almost $9,800 over the life of their loan. - Ben Lane in HousingWire http://www.housingwire.com/articles/29992-fha-announces-plan-to-expand-credit-access
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Shared by Xalima Miriel, Convent of San Benito de Alcántara, XVI century. Spain
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"We're looking at crowdfunding our REO-to-rental holdings," said Richard Neil McCay, president of Tieback Holdings. -- Jacob Gaffney in HousingWire http://www.housingwire.com/blogs/1-rewired/post/29996-could-crowdfunding-help-finance-rental-investments
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It’s a contraction, not the 0.1% economic growth in the first three months of the year as first reported. -- Trey Garrison in HousingWire http://www.housingwire.com/blogs/1-rewired/post/29993-uh-oh-the-first-quarter-saw-economic-decline-not-growth
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Shared by Noor Alzahraa, Lighthouse
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Nat'l Real Estate Post:
Ginnie Mae just put out a report saying the sky is falling in regard to the housing market. They are basing their report on products that no longer exist and credit scores that are not allowed and and debt to income ratios that are not happening. Don't listen to them. This information is erroneous, disingenuous and counterproductive. http://thenationalrealestatepost.com/nar-delivers-ground-breaking-advice/?
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