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  • Finally Something You Can Compete With

    Finally Something You Can Compete With by standing out and being Different.

    The post Finally Something You Can Compete With appeared first on National Real Estate Post.

  • Fox News Corp the Next Real Estate Disruptor?

    Fox News Corp the Next Real Estate Disruptor?

    The post Fox News Corp the Next Real Estate Disruptor? appeared first on National Real Estate Post.

  • Are Lenders Anticipating a Slowdown? Available Credit Falls 3.9 Percent

    The Mortgage Bankers Association (MBA) says its Mortgage Credit Availability Index (MCAI) suffered its largest decline in eight months in August. The Index fell 3.9 percent to 181.7, MBA says this indicates that credit is tightening. The MBA announcement comes on the heels of Fannie Mae's release of its third quarter Lenders' Sentiment Survey in which there was a substantial net increase in lenders responses that credit had tightened over the last three months and was expected to continue. All four of MBA's index components indicated a decline in credit access. The Conventional MCAI dropped 3.6 percent and the Government MCAI fell 4.1 percent. The two sub-components of the Conventional index, The Conforming and the Jumbo MCAI's were down by 4.3 and 3.2 percent respectively.

  • Tariffs are Creating a Perfect Storm for Builders

    The California Building Industry Association (CBIA) is calling the Trump Administration tariffs the "perfect storm" for the state's already troubled housing industry.  The Association says tariffs, which have impacted the price of appliances, certain countertops, some items made of lumber, steel and aluminum, and miscellaneous other items, have driven up the cost of an average-size new home in California by $20,000 to $30,000.  The concern of the California organization was echoed by David Logan, the National Association of Home Builders' (NAHB's) director of Tax and Trade who said, "All the stars aligned for the worst outcome." He warns that the long-term effects of these tariffs could choke off new construction, and they're leading builders to focus on catering to people with higher incomes or encouraging those with moderate incomes to build with less space. "I've heard of instances when projects have had to stop because of pricing changes in the middle of a project," he said.

     

  • The Biggest Story Nobody is Talking About.

    The Biggest Story Nobody is Talking About.

    The post The Biggest Story Nobody is Talking About. appeared first on National Real Estate Post.

  • Fraud Risk Decreases on a Wave of Refi Activity

    Mortgage application fraud declined in the second quarter of this year. CoreLogic's report on the incidence says that one out of every 123 mortgage applications submitted during the quarter (0.81 percent) had a fraudulent component compared to one in 109 (0.92 percent) in the second quarter of 2018.  This is a decline of 11.4 percent.  The company said it was the first decrease in the index since the third quarter of 2016 and attributed it to the strong spike in lower risk refinance originations. New York, Florida, and New Jersey remain the top states for fraud, with New Jersey moving from second to third place. Occasions of fraud were up 8 percent on an annual basis in New York and 9 percent in Mississippi. The remaining top ten states had stable or decreasing risk. Risk increased the most in Idaho, Alabama, New York and Delaware.  States seeing the largest decreases were Kansas, Missouri, Massachusetts, Illinois, and New Mexico.

     

  • Fannie and Freddie Win Lawsuit

    Fannie and Freddie Win Lawsuit

    The post Fannie and Freddie Win Lawsuit appeared first on National Real Estate Post.

  • Some States Showing Signs of Stress, Delinquencies on the Rise

    While it doesn't appear to be of "canary in the coalmine" magnitude, CoreLogic notes that there were annual increases in the delinquency rates of eight states in June.  Those eight bucked a national trend that has brought the overall delinquency rate down to 4.0 percent, the lowest since at least 1999.  That rate, which represents all mortgaged properties with loans 30 or more days past due or in foreclosure, is down 0.3 percent since June 2018. The company's Loan Performance Report says that the hot spots for increases were Vermont with a 0.7 percent increase, New Hampshire which rose 0.3 percent, and Nebraska and Minnesota, each up 0.2 percent.  Four other states, Michigan, Iowa, Wisconsin and Connecticut, had nominal gains of 0.1 percent.

     

  • Mortgage Apps Found Gains in a Holiday-Shortened Week

    Although the week ended September 7 was shortened by the Labor Day holiday, mortgage application volume managed an increase.  It was the first week-over-week gain since Early August.  The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, rose 2.0 percent on a seasonally adjusted basis from one week earlier although it fell 9 percent before adjustment.  As interest rates continue to fall the pace of refinancing has become less frenetic, but that MBA index was still up 0.4 percent from the previous week and was 169 percent higher than the same week one year ago. The refinance share of mortgage activity decreased to 60.0 percent of total applications from 60.4 percent the previous week.

     

  • Lenders See Demand and Profits Expanding, While Credit Tightens

    Mortgage lenders reflected a lot of optimism about their business prospects in the third quarter Mortgage Lender Sentiment Survey conducted by Fannie Mae.  This is in sync with a report late last month from the Mortgage Bankers Association which reported greatly increased profitability on the part of mortgage banks in the second quarter.  Now lenders have told Fannie Mae they expect this trend to continue.  The net profit margin outlook found by the survey was at an all-time high, surpassing the previous high in the first quarter of 2015, primarily due to strong mortgage demand expectations, especially for refinancing.

     

  • Real Estate Agent Commissions Going Public

    Real Estate Agent Commissions Going Public

    The post Real Estate Agent Commissions Going Public appeared first on National Real Estate Post.

  • Survey Says: Expect Low Rates to Remain

    Funny what several dozen downticks in interest rates will do consumers' perceptions of the mortgage market.  Fannie Mae said today that its Home Purchase Sentiment Index, based on selected responses to its National Housing Survey (NHS) set its second consecutive record high in August.  The Index rose 0.1 point to 93.8 and is up by 5.8 points compared to August 2018. However, five of the six components that make up the survey were either flat or moved lower. The increase in the index was due solely to an 11-point increase in the net positive responses as to whether mortgage rates will go down over the next year.  The net number remains negative - at -17 percent - but it has risen from -52 percent since August 2018.

     

  • You Hold the Keys to Happiness

    You Hold the Keys to Happiness

    The post You Hold the Keys to Happiness appeared first on National Real Estate Post.

  • Rising Refis And Record Low Delinquencies

    Low interest rates continue to expand the pool of refinancible mortgages and bolster mortgage prepayment rates according to Black Knight's Mortgage Monitor.  The company, noting that Freddie Mac's 30-year fixed rate mortgages dropped 9 basis points last week to 3.49 percent, said its measure of the refinanceable population of homeowners is "the largest it has ever been" and July's prepayments were the highest in three years. More than half of homeowners with a 30-year mortgage now have an interest rate 0.75 percent above the prevailing rate.  At 24.5 million, this is the largest the pool has been since early 2013.  Of those, 11.7 million are considered capable of being approved for a new loan with a credit score of 720 or more, at least 20 percent equity in their homes, and being current on their mortgage payment. 

     

  • Treasury Rolls Out Huge Fannie/Freddie Reform Plan

    The Treasury Department released the Trump Administration's long-awaited plan for reforming the nation's housing finance system on Thursday. Treasury says the Plan "includes nearly 50 recommended legislative and administrative reforms to define a limited role for the Federal Government in the housing finance system, enhance taxpayer protections against future bailouts, and promote competition in the housing finance system." The plan is a response to a March 2019 Presidential Memorandum directing Treasury Secretary Steven T. Mnuchin to develop a framework for administrative and legislative reforms to address what it called the last unfinished business of the financial crisis.  The Treasury Department said it met with a wide range of stakeholders including affordable housing advocates; broker-dealers; investors; mortgage lenders, servicers, and insurers; think tanks; trade associations; and other interested parties in developing the plan.

  • Has The Entire Mortgage and Real Estate Industry Lost Their Minds?

    Has The Entire Mortgage and Real Estate Industry Lost Their Minds?

    The post Has The Entire Mortgage and Real Estate Industry Lost Their Minds? appeared first on National Real Estate Post.

  • Fewer Prospective Home Buyers Are Actively in the Market

    Fewer prospective homeowners are making the move from thinking about buying to actively shopping than a year ago, according to a new study by the National Association of Home Builders (NAHB). Rose Quint, writing in NAHB's Eye on Housing blog says the association's most recent Housing Trends Report, covering the second quarter, found 12 percent of adults are "thinking" about buying a home, but only 41 percent of those are doing more than that. This is 9 percentage points fewer than those who were actively shopping in the second quarter of 2018. Quint says this statistic suggests that lower interest rates "have not had the expected effect of nudging more people to start looking for a home to buy."

     

  • Another (NEW) Gigantic Player In Real Estate!

    – The Marriage of Media & Financial Services – Fintech M&A’s Power One-Stop-Shop Housing – Fox News Network To Compete With Amazon/Realogy & YOU! The Basis Point article can be found here, thanks for watching!

    The post Another (NEW) Gigantic Player In Real Estate! appeared first on National Real Estate Post.

  • Is the Fannie Freddie Fix In?

    Is the Fannie Freddie Fix In?

    The post Is the Fannie Freddie Fix In? appeared first on National Real Estate Post.

  • Residential Construction Spending Drops Further Off 2018 Pace

    Construction spending inched up by 0.1 percent in July, to a seasonally adjusted annual rate of $1.289 trillion compared to $1.288 trillion in June.  The July figure is 2.7 percent lower than the rate of spending in July 2018.  On an unadjusted basis, spending for the month was $119.214 billion and for the year-to-date (YTD) stands at $733.782 billion,, down 2.1 percent from the $749.888 billion spent during the first seven months of 2018.  Private sector spending was at a seasonally adjusted rate of $963.139 billion, down 0.1 percent from June and 4.8 percent lower than expenditures in July 2018.  For the month, private sector spending totaled $86.812 billion on a non-adjusted basis.  YTD the private sector has spent $554.108, a 4.4 percent decrease from the same period last year.

     

  • Equity Lending Faces Mixed Future

    A new study by the Mortgage Bankers Association (MBA) looks at lending and servicing of home equity lines of credit (HELOCs) and closed-end home equity loans (HE Loans.)  The study finds that lenders see the current demand for equity lending to be mixed between loan types and doesn't anticipate a lot of improvement in HELOC lending in the mid-term. Both home equity loan debt and borrower utilization rates declined last year.  Marina Walsh, MBA's Vice President of Industry Analysis says, "Many households are not tapping the equity in their homes, despite the significant rise in home equity since the Great Recession, wage growth, and low unemployment.  

  • Tell us Where We’re Wrong about Keller and Offerpad?

    Tell us Where We’re Wrong about Keller and Offerpad?

    The post Tell us Where We’re Wrong about Keller and Offerpad? appeared first on National Real Estate Post.

  • Purchase Volume Rises Despite Market Volatility

    Mortgage application volume declined for the third consecutive week during the period ended August 30.  The Mortgage Bankers Association said its Market Composite Index, a measure of that volume, was down 3.1 percent on a seasonally adjusted basis from the week ended August 23 and was 4.0 percent lower before adjustment. Refinancing slacked off for the second week.  That index was down 7 percent but remains elevated compared to the same week in 2018, a 152 percent edge. The share of applications that was for refinancing was 60.4 percent, down from 62.4 percent the prior week.

     

  • How do Investors Impact Homeownership?

    According to a recent New York Times story, investors purchased one-fifth of all single-family starter homes that sold in 2018. Starter homes were defined as the bottom third priced homes in the local market. This is more than in the early years of the Great Recession's recovery and double the volume purchased 20 years ago. The UI analysts reference findings from the 2017 American Community Survey that investors own and rent out about 18.2 million one-unit homes, providing housing for about 42 percent of the nation's 43 million renter households. This can be beneficial as investor-owned properties increase housing options and quality in communities, but they can exacerbate existing housing market problems.

     

  • Mortgage Profits Soar

    Mortgage Profits Soar

    The post Mortgage Profits Soar appeared first on National Real Estate Post.

  • Home Prices are on the Rise Again

    A second housing price index is showing an uptick in the rate of appreciation, possibly because interest rates declines have begun to mitigate affordability issues.  CoreLogic says its Home Price Index for July was up 3.6 percent in July, the annual increase in June, was 3.4 percent.  On a month over month basis the gain was 0.5 percent compared to an increase of 0.4 percent the previous month.  Last week Black Knight noted that the rate of increase in its index had risen for the first time in 16 months.

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  • Opendoor Enters the Mortgage Space

    Opendoor Enters the Mortgage Space

    The post Opendoor Enters the Mortgage Space appeared first on National Real Estate Post.

  • Freddie Says Housing Will Help to Stop Recession, Here's How

    Housing led the way into the last recession, now Freddie Mac's economists are suggesting it might help stave off the next one or at least modify its severity.  In its August Forecast, the company says a deteriorating global economy and on-going US trade disputes with multiple countries has led to a drop in long-term interest rates to a three-year low and has "poised housing to reaccelerate." The report says to expect a significant increase in refinance originations and the combination of low rates, a tight labor market and strong consumer confidence to offset declining business sentiment. "These factors will set the stage for continued improvement in the housing market heading into the fall."

     

  • Lower Rates Increased Affordability in July

    At least one housing index is seeing a turn-around in the direction of home prices. Black Knight says the continuing decline of interest rates have increased homebuying affordability. As a result, its ended 16 straight months of decelerating appreciation in July. The company's Home Price Index (HPI) increased 0.34 percent for the month, bringing year-over-year growth to 3.9 percent.  Over the preceding 16 months the annual growth rate had slowed from a peak of 6.75 percent in February 2018 to 3.7 percent in June. While the rate of appreciation slowed over that 15-month period, prices continued to rise and in July marked 87 consecutive months of annual increases.

  • Banks Report Huge Improvement in Mortgage Profitability

    There was a dramatic turnaround for many mortgage banks in the second quarter as their production profits increased nearly six-fold compared to the previous period.  The Mortgage Bankers Association (MBA) said the independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks responding to their survey said they had an average net gain of $1,675 on each loan they originated, up from a reported gain of $285 per loan in the first quarter of 2019.  Including all business lines (both production and servicing), 85 percent of the firms in the study posted pre-tax net financial profits for the quarter.  Only 59 percent did so in the first quarter.  

     

  • Defaults on the Rise with Possible Recession on the Horizon

    Defaults on the Rise with Possible Recession on the Horizon

    The post Defaults on the Rise with Possible Recession on the Horizon appeared first on National Real Estate Post.

  • Homeownership is the Top Contributor to Household Wealth

    Two US Census Bureau researchers have determined that the biggest determinants of household wealth are owning a home and having a retirement account.  While that may not be surprising, the degrees of magnitude are. Using data from the 2015 Survey of Income and Program Participation, Jonathan Eggleston, an economist, and Donald Hays, a survey statistician in the Bureau's Social, Economic and Housing Statistics Division found that the wealth inequality between homeowners and renters is striking, with the former having median net worth 80 times that of the latter.  Further, they found wide variations in wealth across demographic and socioeconomic groups.  Given that the two are using 2015 data and with the rapid increase in home values since then, the degree of inequality today is probably greater.

     

  • Uptick in Housing Inventories May be Short-Lived

    The theme of every sales and price report for the last several years has been the shor