Headlines

The Securities Exchange Commission voted Wednesday to propose new rules to enhance oversight of clearing agencies that are "systemically important" or that are involved in complex transactions, such as security-based swaps.

Single-family homes sales in Connecticut rose 2.0 percent in January, according to a new report from The Warren Group. The month-to-month gain in January marks the ninth consecutive month of home sale increases for the state.

According to Freddie Mac’s Primary Mortgage Market Survey, the average rate for a 30-year fixed-rate mortgage (FRM) came up nearly a tenth of a percentage point to 4.37 percent (0.6 point) for the week ending March 13. Last year, the 30-year FRM averaged 3.63 percent. The 15-year fixed average was 3.38 percent (0.6 point), up from 3.32 percent last week.

More than 4 million first-time buyers want to enter the market, but they face some tough issues as market conditions aren't exactly favorable to new buyers. This conclusion came from the Zillow Housing Confidence Index (ZHCI), a new calculation released by Zillow and Pulsenomics.

The Consumer Financial Protection Bureau (CFPB) announced that three experts have been named to senior positions within the Bureau. These positions are: the Assistant Director for the Office of Research; the Assistant Director for the Office of Financial Empowerment; and the Assistant Director for the Office of Installment and Liquidity Lending Markets.

As the Home Affordable Modification Program (HAMP) reaches its five-year anniversary, some HAMP loans, including Fannie Mae HAMP loans, will begin to experience an increase in mortgage rates. When loans were modified, they were provided a below-market rate to help struggling homeowners. The rate was good for a set period of time, often five years, which makes HAMP's anniversary bittersweet for some homeowners who will now face rising interest rates.

Foreclosure filings are down to record lows, but a more sinister-sounding problem may be on the rise—"zombie foreclosures." RealtyTrac released its U.S. Foreclosure Market Report for February, reporting that foreclosure filings (default notices, schedule auctions, and bank repossessions) were 112,498, down 10 percent from January and down 27 percent from the previous year.

A release issued by the Minneapolis Area Association of REALTORS (MAAR) gave an in-depth look at how the nationwide cold weather this past January and February affected local, cold weather markets. Freezing weather hurt new listings, which declined 5.0 percent. Despite the drop in listings, MAAR is more bullish for the spring and summer months, expecting overall seller activity to increase.

Consumer expectations for the housing market remain about the same, according to the latest poll from the Federal Reserve Bank of New York. In the New York Fed's most recent Survey of Consumer Expectations (SCE), consumers last month indicated a median home price change expectation of 4.0 percent, reversing an increase to 4.6 percent in January.

The Securities and Exchange Commission (SEC) announced Wednesday that it has charged global investment bank and brokerage firm Jefferies LLC with "failing to supervise employees on its mortgage-backed securities desk who were lying to customers about pricing."