The unadjusted Purchase Index increased 1% compared with the previous week and was 12% lower than the same week one year ago. -- Trey Garrison in HousingWire
http://www.housingwire.com/articles/30841-mortgage-applications-continue-fall-with-22-drop
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Mortgage applications continue fall with 2.2% drop
Continuing the long-term trend this year, mortgage applications decreased 2.2% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 25, 2014. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30841-mortgage-applications-continue-fall-with-22-drop
---------------------------------------------Villa d'Este, Italy
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Man accidentally posts naked photo in home listing
This wasn’t the kind of exposure he wanted for his house -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30812-man-accidentally-posts-naked-photo-in-home-listing
---------------------------------------------Real gross domestic product (GDP) increased at an annual rate of 4.0 percent in the second quarter of 2014, according to today’s first estimate. From Economic Indicators- HUD
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Shared and taken by Jasbir Randhawa, A Doorway in Gurgaon, National Capital Region (NCR) of New Delhi
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Mortgage applications decreased 2.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 25, 2014. ...
Read more at http://www.calculatedriskblog.com/2014/07/mba-mortgage-purchase-applications.html#GMfGM78bVcMBczbg.99
The Refinance Index decreased 4 percent from the previous week. The seasonally adjusted Purchase Index increased 0.2 percent from one week earlier. ..
Read more at http://www.calculatedriskblog.com/2014/07/mba-mortgage-purchase-applications.html#GMfGM78bVcMBczbg.99
By Bill McBride in CalculatedRiskBlog -- http://www.calculatedriskblog.com/2014/07/mba-mortgage-purchase-applications.html
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The homeownership rate in the U.S. fell to a 19-year low as rising prices and tight credit kept many first-time buyers out of the property market. - See more at:
http://www.northjersey.com/news/business/homeownership-falls-to-19-year-low-amid-credit-crunch-1.1058881
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Shared and taken by Virgil Cowen, Along the California Coast near Jalama Beach in Lompoc, CA
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Only “Number Jesters” report 2Q economic growth at 4% pace
Lynn Effinger in HousingWire http://www.housingwire.com/blogs/1-rewired/post/30855-only-numbers-jesters-report-2q-economic-growth-at-4-pace
---------------------------------------------“While we see signs of demand easing, we are significantlymore bullish on housing than many of the recent headlines seem to suggest,” said Altos CEO Michael Simonsen. “Based on our models, we're forecasting another year of home price appreciation, with a 7% home price increase for the year of 2015.” -- Jacob Gaffney in HousingWire http://www.housingwire.com/articles/30840-altos-critics-wrong-about-housing-its-going-to-soar (Only if wages rise to keep up with and exceed housing and other inflation.)
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Shared and taken by Norbert Metz, Calvi Port Corse
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On July 30, 2014, the Federal Open Market Committee (FOMC) directed the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York to purchase additional agency mortgage-backed securities (MBS) at a pace of about $10 billion per month and longer-term Treasury securities at a pace of about $15 billion per month, beginning in August 2014. The FOMC also directed the Desk to maintain its existing policies of reinvesting principal payments from the Federal Reserve’s holdings of agency debt and agency MBS in agency MBS and of rolling over maturing Treasury securities at auction. The Committee’s sizable and still-increasing holdings of longer-term securities should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.
(In other words, the Fed continues to decrease the amount of MBS, mortgage backed securities. They are printing less money.)
Shared by Scott Picken, Real Estate Crowdfunding
Wealth Migrate is the Global Real Estate Market Place and is revolutionising real estate forever! http://www.wealthmigrate.com
Check it out on Youtube https://www.youtube.com/watch?v=HWcAlHFXZyA&feature=youtu.be
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Shared by Uros Kralj, Venice
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The national foreclosure inventory is down 35% from a year ago, with approximately 648,000 homes in some stage of foreclosure, compared to 1 million a year ago,CoreLogic’s latest June National Foreclosure Report found. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/30861-corelogic-foreclosure-inventory-tumbles-35
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Freddie Mac also reported that the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent this week with an average 0.5 point, up from last week when it averaged 2.99 percent. A year ago, the five-year ARM averaged 3.18 percent. The one-year Treasury-indexed ARM averaged 2.38 percent this week with an average 0.4 point, down from last week when it averaged 2.39 percent. At this time last year, the one-year ARM averaged 2.64 percent.
http://nationalmortgageprofessional.com/news50776/housing-data-slowing-not-stopping?
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From Amazing Ideas
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Nat'l Real Estate Post:
Now let’s get down and dirty with HUD. Well, it appears there was a bit of an investigation on HUD’s Minnesota office and some pretty dirty stuff came out. I looks as though some men were, uh, well, “surfing” on the internet looking at, well, uh, stuff that could be considered inappropriate. As you would expect, some of the ladies in the office didn’t appreciate it and there ya go. A formal complaint and investigation got started and we have the details.
http://thenationalrealestatepost.com/outrageous-internal-hud-activities-discovered/?
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From the Department of Commerce:
Personal income increased $56.7 billion, or 0.4 percent, and disposable personal income (DPI)
increased $51.5 billion, or 0.4 percent, in June, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $51.7 billion, or 0.4 percent. In May, personal
income increased $57.4 billion, or 0.4 percent, DPI increased $55.0 billion, or 0.4 percent, and PCE
increased $39.8 billion, or 0.3 percent, based on revised estimates.
- July 2014 CPI data are scheduled to be released on August 19, 2014, at 8:30 A.M. Eastern Time. (That's the inflation index.)
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