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Survey Reveals Top Regrets Among Buyers, Renters

Slightly more than half of Americans harbor at least one regret about their current home, according to Trulia's Real Estate Regrets survey. The top regret listed among homeowners is not choosing a larger home. Thirty-four percent of homeowners cited this regret in Trulia's survey. The second most common regret among homeowners is not remodeling more when they purchased their current homes.

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Downward Trend Continues for Fixed Rates

According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.41 percent (0.7 point) for the week ending April 18, down from last week, when it averaged 3.43 percent. Last year at this time, the 30-year fixed averaged 3.90 percent. Meanwhile, Bankrate.com's weekly survey showed yet another three-month low for fixed rates. According to the site, the benchmark 30-year FRM average retreated to 3.61 percent from 3.64 percent previously.

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Construction Job Growth Expected to Improve Overall Unemployment

While the March jobs report delivered disappointing numbers, the strength in construction employment offers encouragement, Freddie Mac explained in its economic and housing outlook report for April. Construction jobs have been ""accelerating"" in recent months, with net construction job growth representing 15 percent of all job gains over the last six months, the report stated. ""Construction employment is showing signs of life, which should help to improve the overall macroeconomic picture,"" said Frank Nothaft, Freddie Mac VP and chief economist.

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Hearing Acknowledges FHFA’s Progress, Points to Shortcomings

As the GSEs approach their fifth year in government conservatorship, Congress held a hearing Thursday to evaluate the Federal Housing Finance Agency's (FHFA's) role as regulator and conservator. Acting Director Edward DeMarco offered testimony detailing the agency's achievements, and Steve A. Linick, inspector general at the FHFA Office of the Inspector General, highlighted some areas in need of improvement at FHFA. Linick praised the FHFA as it has ""accepted and begun to implement the vast majority of our audit and evaluation recommendations."" He also addressed areas that could use improvement.

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Investors, Inventory Shortage Catalysts to Housing Rebound: Report

Demand for distressed properties from investors is contributing to the recovery, not creating an artificial one, according to Pro Teck's Home Value Forecast for April. One of the catalysts driving the housing market rebound has been large investment funds, which are buying distressed single-family homes to be used as rentals. ""These funds have also been renovating homes, which has helped to improve the overall conditions of the surrounding neighborhoods and provided a positive injection of capital,"" said Tom O'Grady, CEO of Pro Teck.

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First-Time Unemployment Claims Tick Up

First-time claims for unemployment insurance increased for the fourth time in the last five weeks, edging up 4,000 for the week ending April 13 to 352,000, the Labor Department reported Thursday. Economists expected 347,000 initial claims. Initial jobless claims for the week ending April 6 were revised up to 348,000 from the originally reported 346,000.

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Carrington Announces 14 New Hires

Carrington Mortgage Services' Wholesale Lending Division announced it has added 14 professionals to its sales staff to better provide in-market services to brokers and borrowers.

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Beige Book Sees Moderate Growth Despite Sequester Threat

Despite threats from the federal budget sequester, the nation's economy expanded ""at a moderate pace"" from late February to early April, the Federal Reserve reported Wednesday in its periodic ""Beige Book. Activity in five Federal Reserve Districts--Cleveland, Richmond, St. Louis, Minneapolis, and Kansas City--was described as growing at a moderate pace, while in five other districts-- Boston, Philadelphia, Atlanta, Chicago, and San Francisco--growth was notched slightly slower as ""modest.""

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BofA’s Profits Quadruple in Q1, Mortgage Banking Income Drops

BofA reported Wednesday net income of $2.6 billion for the first quarter of 2013, up from $653 million the same quarter last year. On the residential lending front, the company reported lower mortgage banking income, largely as a result of lower servicing income. However, first-lien mortgage production rose 57 percent to $24 billion, approximately 91 percent of which was for refinances. In addition, the number of 60-plus day delinquent first mortgage loans dropped by more than 100,000 from Q4, falling to 667,000.

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