May 23, 2013
Housing is going to propel the economic recovery, or so many experts have said. Some of them are warning, however, that the enthusiasm should be curbed despite all the upbeat data recently, according to NBC News.
Steven Abreu joins Ellington Management Group as head of mortgage originations to start the company’s new mortgage originations business, a move that follows growth trends in the originations space.
The bill, if signed into law, would apply the mediation requirements to judicial foreclosures, which is well beyond the current reach of Oregon's mediation guidelines....
Mega bank JPMorgan Chase issued its second private-label RMBS deal of the year, with high geographic concentration as the primary risk posted within the deal.
Carrington Real Estate Services announced its new mobile online resource for agents, called MyFUELCenter, which was created to increase the productivity of agents and promote business growth through 24/7 access to information, training, supper and business tools.
- Checking up on the status of the downtown Boston real estate market, with P.T. Vineburgh, Charlesgate Realty Group. The power house listing of the week is priced at $2.85 million brownstone with 1,906 square feet and about $30,000 in taxes.
- Fixed mortgage rates trended higher for the third consecutive week, according to reports from Freddie Mac and Bankrate.com. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.59 percent (0.7 point) for the week ending May 23, up from 3.51 percent the previous week. The 15-year FRM was also up, averaging 2.77 percent (0.7 point) from 2.69 percent previously.
- Lennar's CEO Stuart Miller says there is still more room to grow in home prices, despite the record of 2.3 percent gain in April, reports CNBC's Diana Olick.
Posted To: MND NewsWireNew home sales rose 2.3 percent on a seasonally adjusted basis in April to an annual rate of 454,000 units . The Census Bureau and the Department of Housing and Urban Development also revised the March estimate of new home sales dramatically upward from 417,000 units to 444,000. The April rate of sales was 29.0 percent higher than the April 2012 rate of 352,000 units. On a non-seasonally adjusted basis there were...
- According to Zillow, the national negative equity rate was 25.4 percent in the last quarter compared to 27.5 percent at the end of 2012. That percentage represents slightly more than 13 million homeowners with a mortgage, Zillow said. However, when including homeowners with less than 20 percent home equity, the "effective" negative equity rate climbs to 43.6 percent, or a total of 22.3 million homeowners. Zillow explained that these homeowners likely can't afford a down payment for a new home,...