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Market Studies

Delinquency Rate Falls for 10th Straight Quarter

The national mortgage delinquency rate declined for the 10th consecutive quarter in Q2 2014 and is at its lowest level since 2008, according to TransUnion's quarterly mortgage report. The rate of U.S. mortgage delinquencies, defined as those in which the borrower is more than 60 days delinquent on the mortgage account, fell from 3.61 percent in Q1 to 3.46 percent for Q2 (a change of 4.2 percent).

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California Home Sales Still Slow Despite 3.9 Percent Jump

Single family home and condominium sales in California experienced a month-over-month increase of 3.9 percent for July but saw a 9.2 percent decline year-over-year, according to PropertyRadar's July 2014 Real Property Report for California. Sales for single family homes and condos for the first seven months of 2014 year-to-date are at their lowest levels since 2008, the report stated.

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Sales Of All-Cash Homes Decline In Q2

The second quarter of 2014 saw fewer all-cash home sales than the first quarter as institutional investors backed off from the market. In a quarterly report released Tuesday, RealtyTrac reported all-cash transactions made up 37.9 percent of all single-family home and condo sales in April, May, and June, down from the first quarter's three-year high of 42.0 percent but up from 35.7 percent in the year-ago quarter.

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Consumer Sentiment Drops in August

A first-look reading shows consumer sentiment plummeted to a nine-month low in August as expectations dimmed. The Thomson Reuters/University of Michigan Index of Consumer Sentiment came in at 79.2 in the preliminary August reading, down from a final reading of 81.8 in July and several points below the consensus forecast of 82.3. It was the lowest reading since last November, when the country was still shaking off the effects of October's government shutdown.

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Home Sales Decline for First Time in Five Months

Home sales for July decreased slightly from the previous month after increasing for four months in a row, according to the July 2014 RE/MAX National Housing Report released on August 14. Meanwhile, home prices fell marginally month-over-month but increased year-over-year.

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