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Home | News | Market Studies

Unemployment Rate Falls in Most States, But Changes Little Overall

unemployment

Forty-one states and the District of Columbia experienced month-over-month declines in their unemployment rate, while 43 states and the District of Columbia saw year-over-year decreases in unemployment for November, according to the Regional and State Employment and Unemployment November 2014 report released Friday by the U.S. Bureau of Labor Statistics.

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Survey: Most Investors Would Rather Rent Homes Than Flip Them

flipping-houses

The majority of investors who bought homes at auction last month intend to hold onto them as a source of rental income, according to a report from real estate marketplace Auction.com. Isolating online buyers, Auction.com found a preference in the group toward renting rather than flipping, though responses differed by region: Renting was easily was preferred choice for properties in the Midwest and South, barely edged out flipping in the West, and was less popular than flipping in the Northeast.

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OCC Report Shows Improvement in First-Lien Mortgages for Q3

money-steps

The OCC Mortgage Metrics Report, Third Quarter 2014, released Friday by the Office of the Comptroller of the Currency (OCC), showed improvement in the performance of first-lien mortgages serviced by seven national banks and one federal savings association. The report found that out of a portfolio totaling 23.6 million loans with a combined unpaid principal balance of about $4.0 billion (about 46 percent of residential mortgages in the U.S.), the percentage of current and performing mortgages increased both quarter-over-quarter (from 92.9 percent to 93.0 percent) and year-over-year (from 91.4 percent to 93.0 percent) in Q3.

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Underwater Borrower Rate Drops Below 17 Percent

underwater-five

The number of U.S. homeowners who owe more on their mortgage than their home is worth has fallen off by nearly half in the last two years, but third-quarter data shows millions are still close to slipping back under. By the end of Q3 2015, the company expects negative equity will drop further to a rate of 15.2 percent. While improving trends in home values and foreclosures have helped push more homeowners into positive equity positions, many are still barely afloat, possessing too little equity to realistically afford the cost of selling their home and buying a new one. Because they're essentially locked into their houses, those homeowners are unable to contribute to their local stock of for-sale homes and are stuck in the way of entry-level or move-up buyers.

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Cary, North Carolina Named ‘Nicest’ Housing Market; Milwaukee Designated as ‘Naughtiest’

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With Christmas just one week away, RealtyTrac has released a list of the nicest and naughtiest U.S. housing markets based on a number of factors, including foreclosure rate, crime ratings, unemployment rate, school scores, housing affordability, and sex offenders per capita. RealtyTrac found the "nicest" housing market in the U.S. to be Cary, North Carolina, and the "naughtiest" to be Milwaukee, Wisconsin, based on those metrics. Cary was chosen as the nicest housing market based on the city's low unemployment by county rate (4.40 percent), sex offender per capita rate (0.021 percent, or an average of 2.12 sex offenders for every 10,000 people), low foreclosure inventory (0.17 percent, or 17 foreclosures for every 1,000 housing units), total crime index (20.1 percent, for a crime rating of A), average elementary school score for 2013 (1.0979) and home affordability, or the percentage of median income to buy median-priced homes (21.38 percent).

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