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Refinances Decline, HARP Refis Still Higher Than Last Year in Q2

As mortgage rates climb, refinances are on the decline. However, refinances through the government's Home Affordable Refinance Program (HARP) remain elevated compared to last year's volumes, according to the Federal Housing Finance Agency's (FHFA) Refinance Report for the second quarter of 2013. HARP refinances totaled about 280,000 for the quarter, down slightly from about 290,000 in the first quarter of this year, FHFA reported.

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Radian Announces Claims Agreement with Freddie Mac

Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., has entered into a master transaction agreement with Freddie Mac which the company says eliminates its claim exposure on 9,756 delinquent mortgage loans and 4,586 re-performing loans. The agreement involves a group of 25,760 first-lien mortgages held by Freddie Mac that were insured by Radian and were delinquent as of December 31, 2011. The agreement spells out future claim payments, loss mitigation activity, and insurance coverage of these loans.

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Unemployment Rate Dips to 7.3% in August

The nation's economy added 169,000 jobs in August as the unemployment rate fell to 7.3 percent, the lowest level since December 2008, the Bureau of Labor Statistics reported Friday. Economists had forecast payrolls would grow by 180,000 and the unemployment rate would remain at July's 7.4 percent. Payroll growth for July, originally reported at 162,000 was revised down 58,000 to 104,000. June payroll growth was also revised downward from 188,000 to 172,000.

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Report: Recovery Influencers Betting on Different Markets

When looking at the housing recovery through the lens of prices, we appear to be well on our way. However, according to economists with Trulia, prices are only half of the picture. A full housing recovery requires rebounds in both prices and new construction, Trulia stated Thursday with the release of its monthly price and rent analysis. While home prices are making double-digit annual gains in many markets, Trulia stresses construction activity is severely lagging.

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More than Half of Homeowners Planning Fall Projects

A new survey from Zillow shows more than half of homeowners are planning to improve or add on to their homes this fall. Cost-wise, homeowners plan to spend around $1,000, which is $200 less than during the summer. Most of the attention will be focused on home office or playroom remodels, Zillow reported.

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Mortgage Interest Rates Pick Up Amid Economic Gains

Mortgage interest rates headed higher this week, nearly reaching year-to-date highs as markets waited for the Friday morning release of the August Employment Situation Report. Freddie Mac's weekly survey put the 30-year fixed-rate mortgage at an average 4.57 percent for the week ending September 5, up from 4.51 percent last week. Shorter term fixed rates and adjustable-rate mortgages all climbed higher as well. Freddie Mac's chief economist attributed the rise in rates to ""signs of a stronger economic recovery.""

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Industry Vets Launch New Group to Advocate for America’s Homeowners

America's Homeowner Alliance announced this week that it is officially open for membership. Launched by a team of industry veterans led by Phil Bracken and guided by an advisory board made up of representatives from the housing industry, prominent consumer groups, and fair housing organizations, America's Homeowner Alliance is the first nationally organized group dedicated to protecting and promoting sustainable homeownership for all segments of America.

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Study Finds 8.3M Homeowners on Verge of Positive Equity

Home prices have rebounded so rapidly that industry data show 8.3 million borrowers who've been underwater are on track to have enough equity to sell their home within the next 15 months--without resorting to a short sale. Metro markets that boast the highest percentage of homes with resurfacing equity include Omaha; Colorado Springs; Tulsa; Little Rock; and Raleigh, North Carolina.

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Equifax Solution Looks at Past Credit Behavior to Predict Future Default

Equifax announced the availability of Equifax Dimensions, a new product created to deliver a more in-depth picture of past credit behavior to predict future trends. Users of the new solution can see up to two years' worth of detailed consumer credit activity, allowing them to identify consumer patterns such as a borrower's financial ""breaking point"" that will lead to default and which consumers are most likely to open new accounts.

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Prices Hold Steady in CRE Sector

DebtX, an online marketplace for commercial real estate (CRE) debt, reported that CRE loan prices were little changed in July. According to DebtX, the estimated price of whole loans securing the commercial mortgage-backed securities (CMBS) universe fell to 90.7 percent, down from 90.8 percent in June. Loan values were 88.1 percent on July 31, 2012.

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