Nat'l Real Estate Post:
The CFPB and the Dodd-Frank act are holding down the housing industry by making it harder to get a loan. The cost of loans is up by 6%. Paying less is better than paying more!
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From The Department of Commerce:
The June 2014 international trade deficit decreased 7.0 percent from May, to $41.5 billion. Exports increased 0.1 percent, to $195.9 billion, and imports fell 1.2 percent, to $237.4 billion.
(We are buying less.)
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Shared and taken by Jasbir Randhawa, A Temple on a mountain topCaptured in the W. Himalayan State of Himachal Pradesh, N. India
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Each $1,000 increase in the cost of a new median-priced HOMEprice forces 206,000 prospective buyers out of the marketplace, according to a new study by the National Association of Home Builders (NAHB).
http://nationalmortgageprofessional.com/news50878/NAHB-Thousand-Dollar-Rise-Price-Impacts-Potential-Homebuyers
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Despite low interest rates and expanding credit availability, homeownership in the U.S. continues to fall, down to a low of 64.7%, a level not seen since 1995.
Home price growth is slowing and is projected to slow further through the next 12 months.
-- Trey Garrison in HousingWire http://www.housingwire.com/articles/30924-homeownership-at-near-20-year-low-but-some-bright-spots
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Shared and taken by
Nina Jvalik:
Valday Iversky Monastery is a Russian Orthodox monastery founded by Patriarch Nikon in 1653. The monastery is located on an island in Lake Valdayskoye in Valdaysky District of Novgorod Oblast, Russia, close to the town of Valday. In the 17th century, the Valday Iversky Monastery was one of the most influential monasteries in Russia and a significant cultural center.
The monastery derives its name from the Iviron Monastery on Mount Athos. In the Valday Iversky Monastery, a copy of the icon of Theotocos...
The monastery derives its name from the Iviron Monastery on Mount Athos. In the Valday Iversky Monastery, a copy of the icon of Theotocos...
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Mortgage applications increased 1.6% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending August 1, 2014. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30930-mortgage-applications-tick-up-16-for-week-as-refis-grow
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World’s most expensive home per square foot goes on sale
The property is listed with the charmingly Asian simplicity of House No. 1, located atop the Twelve Peaks development at 12 Mount Kellett Road in Hong Kong. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30970-worlds-most-expensive-home-per-square-foot-goes-on-sale------------------------------------------------
Shared by Uros Kralj
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As I read the housing industry news, I see a pattern. The federal government squeezes money out of the banks, the banks make fewer loans. The federal government loads onerous regulations on businesses and citizens, the businesses and citizens have less money to spend. The federal government seduces college students with easy money loans for school. The housing industry is caught in the middle with the mortgage companies afraid to lend and the buyers afraid or unable to buy. We, the citizens, need to take back our government by getting involved in politics and changing policy and laws, to give freedom back to the people.
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Fannie Mae is reporting net income of $3.7 billion from April through June as the housing market continued to recover. http://www.usnews.com/news/business/articles/2014/08/07/fannie-mae-earns-37b-in-2q-paying-37b-to-us (This money goes to the treasury. It doesn't stay with Fannie Mae.)
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Shared by Kyoung Woo Park, Norway
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Freddie Mac Will Provide U.S. Treasury $1.9B in Dividends
WASHINGTON — Mortgage giant Freddie Mac posted net income of $1.4 billion for the April-through-June period, aided by a strengthening housing market. The government-controlled company has turned a profit in each of the past 11 quarters. http://www.startribune.com/business/270314121.html
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Realtor.com spies 10 markets that will take off in the next 3 months
Trey Garrison in HousingWire http://www.housingwire.com/articles/30963-revealed-the-secret-why-these-10-markets-will-grow-the-most-in-3q
---------------------------------------------Shared and taken by Norbert Metz, Malcesine Port / Lago di Garda Italy
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From the Census Bureau:
Sales. The U.S. Census Bureau announced today that June 2014 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $454.4 billion, up 0.2 percent (+/-0.7)* from the revised May level and were up 6.5 percent (+/-1.8%) from the June 2013 level. The May preliminary estimate was revised upward $0.2 billion. June sales of durable goods were up 1.4 percent (+/-0.9%) from last month and were up 6.6 percent (+/-1.2%) from a year ago. Sales of nondurable goods were down 0.7 percent (+/-0.7%)* from May, but were up 6.5 percent (+/-3.2%) from last June. Sales of farm product raw materials were down 8.1
percent from last month. (We are buying more, but are also further in debt.)
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Canada and the United States both would like to shift more mortgage risk back to the private market, and they might be able help each other do just that......These circumstances point to a cross-border opportunity..... -- Bonnie Sinnock in National Mortgage News http://www.nationalmortgagenews.com/news/risk-management/how-canada-us-could-help-each-other-revitalize-private-mbs-1042333-1.html
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Shared by Uros Kralj, taken by Adrianna F
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FICO said that the newest iteration of its scoring product, FICO Score 9, will offer a sophisticated treatment differentiating medical from non-medical collection agency accounts. “This will help ensure that medical collections have a lower impact on the score, commensurate with the credit risk they represent,” the company said. -- Patrick Lunsford in InsideARM http://www.insidearm.com/daily/debt-buying-topics/debt-buying/ficos-new-credit-score-addresses-medical-debt-collection-and-collection-agency-accounts/
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Current rates:
From Sam Thompson at NorthPoint Mortgage
Cell: 770-301-0527
Direct/Fax: 678-974-3216
NMLS # 413254
GA License # 32627
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