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).
Read More »Ohio Still Fifth in Foreclosures Despite Drop
Ohio ranks fifth in the nation in foreclosure activity in July even after a 24 percent decrease from a year ago, according to recently released data from RealtyTrac.
Read More »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.
Read More »First Mortgage Default Rates Fall For Ninth Straight Month
While overall national consumer credit default has hit its lowest levels in 10 years, the first mortgage default rate continues to decline, according to the July 2014 S&P/Experian Consumer Credit Default Indices released on August 19.
Read More »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.
Read More »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.
Read More »Florida Payrolls Lose Jobs, But Unemployment Rate Holds Steady
The unemployment rate in Florida for July remained unchanged from the previous month at 6.2 percent despite losing 1,600 jobs from the payrolls, according to a report recently released by the Wells Fargo Securities Economics Group.
Read More »Overall Economic Outlook Positive, But Housing Loses Momentum
A second quarter rebound combined with an upward revision for first quarter economic activity has given a boost to 2014 full-year economic expectations, according to the August 2014 Economic Outlook put together by Fannie Mae's Economic and Strategic Research Group.
Read More »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.
Read More »QM Rules Cause Lenders to Expect Tougher Environment
While regulatory guidelines introduced this year have had little effect on lenders' strategies so far, most still anticipate a tougher operating environment ahead, according to an analysis of responses in a recent Fannie Mae survey.
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