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Home | Author Archives: Krista Franks Brock

Author Archives: Krista Franks Brock

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FHFA: HARP Refinances Drop in February

FHFA: HARP Refinances Drop in February

Amid continued rising home prices and rising mortgage rates, the number of refinances achieved through the Home Affordable Refinance Program (HARP) is declining, according to the Federal Housing Finance Agency (FHFA). Even a slight drop in mortgage rates to 4.3 percent for the month did not bolster February's HARP refinances.

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Rising Prices and Mortgage Rates Stall Home Sales

Rising Prices and Mortgage Rates Stall Home Sales

"The combination of steep price appreciation and rising mortgage rates is likely coming as a shock to many prospective buyers," Redfin stated in its latest Real-Time Price Tracker. Home sales declined 10.3 percent across the country year-over-year in February, falling for the fourth straight month with sharp drops in West Coast markets.

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Economy Functioning at 87% of Pre-Crisis Levels

Economy Functioning at 87% of Pre-Crisis Levels

A report released this week by the National Association of Home Builders (NAHB) and First American’s Leading Markets Index showed that the economy and housing market are functioning at a level about 87 percent of their pre-crisis normal levels. The report measures metro markets based on housing permits, home prices, and employment.

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