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Read More »Reliable Housing Market Forecasts Need Both Statistics and Human Judgment
Freddie Mac's monthly Insight & Outlook report for August 2015 released Monday found that a substantial amount of human judgment is required in addition to statistics when determining if a housing market is overvalued or when home prices are likely to drop.
Read More »Agency Purchase Loans Become Riskier
Also according to AEI's July report, 71 percent of Agency purchase loans had down payments of 5 percent or less, and 25 percent of them had DTI ratios greater than the QM limit of 43 percent. The median FICO score for first-time buyers was 709, a bit below the median for all individuals in the United States.
Read More »Mid-Tier Banks View Dodd-Frank Stress Test Process as More Important than Results
Fitch Ratings examined the Dodd-Frank Act Stress Test process and results, finding that steps taken to gather the data for mid-tier regional banks ($10 billion-$50 billion in assets) are a positive development.
Read More »Pending Home Sales Rise for the Sixth Time in Seven Months
Additionally, the index has increased year-over-year for 11 consecutive months and is the third highest reading of 2015, behind April (111.6) and May (112.3).
Read More »GDP Growth Rises to 3.7 Percent for Second Q2 Estimate, But is the News All Good?
Q2's real GDP growth is consistent with the positive news for most housing metrics as of late. Existing home sales are at pre-recession levels, and in the July 2015 pending home sales report released Thursday by the National Association of Realtors (NAR), pending home sales were up by 7.4 percent year-over-year. Affordability and tight inventory remain obstacles to home sales, however.
Read More »New York Fed President Says September Rate Hike is ‘Less Compelling’ Now
At a press conference following a speech on the regional economic outlook in Buffalo on Wednesday morning, New York Fed president and CEO William C. Dudley expressed the idea that a rate hike at September's Federal Open Market Committee meeting seemed "less compelling" than it was a few weeks ago following the turbulent stock market activity earlier in the week.
Read More »Collingwood Group Adds Housing Finance Veteran as SVP
In his new role as SVP at Collingwood, Negri's duties will include managing critical customer relationships as they cope with franchise-risking regulatory and compliance demands in the new challenging regulatory environment.
Read More »Auction.com Welcomes New VP of Customer Engagement
Irvine, California-based online real estate marketplace Auction.com has announced the hiring of former eBay executive Kristine Chin as VP of customer engagement.
Read More »New Home Sales Bounce Back in July from a Disappointing June
The June data determined that new single-family home sales were at a seasonally adjusted annual rate of 481,000, 6.8 percent below the revised May rate of 517,000 and is 18.1 percent above the June 2014 estimate of 408,000.
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