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Monday, September 22, 2014

Credit Unions Tell Senate "Enough is Enough"

XCEL Federal Credit Union President and CEO Linda McFadden will tell the Senate Banking Committee on Tuesday that “enough is enough” when it comes to the overregulation of credit unions, sources in Washington tell HousingWire. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/31374-credit-unions-to-senate-banking-enough-is-enough
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Nat'l Real Estate Post:
MLS offering app to real estate agents that calculates closing costs for buyers and sellers, maybe.  http://thenationalrealestatepost.com/mls-closing-cost-app-for-realtors/?
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Shared by Darja Vizjak, taken by Florita Molina

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Mortgage applications jumped dramatically for the week ending Sept. 12, up 7.9% from the week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Sept. 12, 2014.  -- Trey Garrison in HousingWire http://www.housingwire.com/articles/31388-mortgage-applications-jump-dramatically-up-79
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Will the housing recovery continue?
The consensus among four expert economists at a panel at the Bipartisan Policy Center 2014 Housing Summit is a resounding yes. -- Jacob Gaffney http://www.housingwire.com/blogs/1-rewired/post/31381-here-where-expert-economists-think-housing-is-going
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Shared and taken by Dieter Birr, Cathédrale Ulm/Germany,Ulmer Münster

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What has recovered or is close to being recovered?
Jobs, home prices, non-distressed existing home sales, multifamily new construction, and rents.
What is far from recovery or way off normal levels? Single family new construction, mortgage applications and originations, household formation and home ownership. -- Jonathan Smoke in HousingWire http://www.housingwire.com/blogs/1-rewired/post/31355-economist-heres-why-mortgage-supply-and-demand-isnt-normal
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Washington is protecting buyers right out of homeownership

BPC Housing Commissioner: Give borrowers a chance to fail

Trey Garrison in HousingWire
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Shared and taken by Xalima Miriel


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MainStreet, a mortgage investment company in New York, has launched a crowdfunding site for lending and investing in commercial real estate. -- Kristin Broughton in Origination News
http://www.nationalmortgagenews.com/news/origination/mainstreet-launches-crowdfunding-site-for-commercial-real-estate-1042630-1.
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Nat'l Real Estate Post:
Wells Fargo survey- 95% said they want to buy a home.  30% think they need 20% down.
http://thenationalrealestatepost.com/wells-fargo-survey-sheds-important-light-2/?
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Shared and taken by Darja Vizjak, Bogenšperk Castle, Slovenia

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We are more in debt:
Consumer Credit 

Consumer credit scored its biggest gain in nearly 13 years in July, with borrowing for the month growing by 9.7 percent to reach a total of $3.23 trillion, the Federal Reserve reported last week. This marked a $26 billion gain, which was well over the $17 billion the market had expected. Consumer credit hasn’t seen that big a monthly gain since a $28 billion spike in November 2001. 

Brian Daiker with Movement Mortgage http://movement.com/lo/brian-daiker/
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When you see these Bond prices moving higher, it means home loan rates are improving—and when they are moving lower, home loan rates are getting worse. 
Kevin A. Jones with Lion Bank
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Shared and taken by Norbert Metz

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30 Year Fixed: 4.250% 
 
APR 4.279%
15 Year Fixed: 3.250%  
 
APR 3.373%
7/1 ARM: 3.125%
 
APR 3.419%
5/1 ARM: 2.875%
 
APR 3.246%
FHA 30 Year Fixed: 3.750%
 
APR 5.423%
Jumbo 30 Year Fixed: 4.125%
 
APR 4.395%
Jumbo 15 Year Fixed: 3.625%

APR 3.815%
Jumbo 7 year ARM: 3.500%

APR 3.626% 
Jumbo 5 year ARM: 3.125%
 
APR 3.387%   
Sam Thompson with NorthPoint Mortgage

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