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Real Estate News |
Quicken Loans Super Bowl Ad Draws Criticism, PraiseQuicken Loans aired a commercial pushing its Rocket Mortgage program during the Super Bowl on Sunday, prompting a barrage of criticism on social media and elsewhere, which in turn prompted an equally strong defense
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Housing starts slip in Dec. but annual gains solidU.S. builders started fewer homes in Dec. (-2.5%), but prior gains led to 2015 ending with residential construction at its healthiest level in eight years (+10.1%).
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Average rate on 30-year mortgage falls to 3.92%Falling oil prices and stock turbulence continued to help home buyers. Mortgage rates dropped again as investors put more money into U.S. bonds
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More Americans say it's a good time to sellFannie Mae's Dec. housing survey found a 9% jump in the number of consumers who said their income was significantly higher than it was 12 months ago
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Private Sector Job Market Shows No Signs of SlowingStrong job growth in October and November was one of the main economic factors that led the Federal Reserve to raise rates in December. And according to ADP’s December 2015 National Employment Report, that job growth is not showing any signs of slowing down heading into 2016.
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Mortgage Rates Ring in New Year Below Four PercentMortgage rates mixed with the 30-year fixed-rate fell back below four percent to start the year, according to Freddie Mac's most recent Primary Mortgage Market Survey. The 30-year fixed-rate mortgage (FRM) averaged 3.97 percent with an average 0.6 point for the week ending January 7, 2016, down from last week when it averaged 4.01 percent. A year ago at this time, the 30-year FRM
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Home Prices Continue Steady Upward MoveThe median price of a home is now only 5 percent less than its peak reached in June 2006. What markets experienced the largest and smallest increases in home prices year-over-year?
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Consumer Sentiment Ends 2015 at an All-Time HighThe year 2015 was a year of prosperity and growth for the housing market, and in turn, consumers displayed their confidence with positive feelings toward their income, job security, and overall economic outlook.
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FHA Urged to Ease Rules on Condo FinancingFHA kicks off 2016 with some of the strongest books of business in years. In November 2015, FHA reported that its Mutual Mortgage Insurance Fund surpassed the mandated 2 percent capital reserve ratio requirement for the first time since 2009.
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Distressed Sales Way Down Despite Slight Seasonal UptickDistressed residential home sales, which include both REO properties and short sales, continued their steady decline nearing the end of 2015 despite an expected slight seasonal increase due to seasonality in the market, according to data released by CoreLogic.
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Average mortgage rate tops 4% to kick of 2016WASHINGTON (AP) – Jan. 4, 2016 – Average long-term U.S. mortgage rates crossed the 4 percent mark this week, a slight increase in the wake of the Federal Reserve decision this month to hike a key short-term interest rate.
Mortgage buyer Freddie Mac said Thursday that the average rate on a 30-year fixed-rate mortgage rose to 4.01 |
Fla. consumers less confident but U.S. outlook risesGAINESVILLE, Fla. – Jan. 4, 2016 – Consumer sentiment fell slightly in December to 90.2 – down almost 1 point from November's revised reading but 2.6 points higher than last December, according to the latest University of Florida (UF) consumer survey.
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What Will it Take to Get Private Capital Back into Jumbo RMBS in 2016?The issuance of jumbo residential mortgage-backed securities has been slow—and the outlook for jumbo RMBS issuance for 2016 doesn’t look good, according to the January 2016 RMBS Research Report issued by Morningstar Credit Ratings this week.
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It took longer to close a home loan in Nov.WASHINGTON – Jan. 5, 2016 – The average time to close on a mortgage was 49 days in November, the longest timeline since February 2013, according to Ellie Mae's latest Origination Insight Report. Conventional and FHA loans each averaged 49 days while VA loans averaged 50 days.
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Existing home sales drop 10.5% in Nov.WASHINGTON – Jan. 4, 2016 – Existing-home sales dropped off considerably in November to the slowest pace in 19 months, but a drop in homebuyers and sellers might not be the reason. Some of the decrease can probably be attributed to longer closing timeframes following the Oct. 3 implementation of new mortgage rules. If so, the number of December closings will probably go higher, according to the National Association of Realtors® (NAR).
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Pending home sales decline a bit in Nov.WASHINGTON – Jan. 4, 2016 – Pending home sales in November slightly declined for the third time in four months as buyers continue to battle both rising home prices and limited homes available for sale, according to the National Association of Realtors® (NAR). Modest gains in the Midwest and South were offset by larger declines in the Northeast and West.
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New-home sales move 4.3% higher in Nov.WASHINGTON, Jan. 4, 2016 – Sales of newly built, single-family homes rose 4.3 percent to a seasonally adjusted annual rate of 490,000 units in November, according to data released Dec. 23 from the Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.
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Fla. home sales, prices up in Nov.ORLANDO, Fla., – Jan. 4, 2016 – Positive trends continued for Florida's housing market in November, with more closed sales, higher median prices, more new listings and fewer days on the market, according to the latest housing data released by Florida Realtors®. Statewide closed sales of existing single-family homes rose last month with a total of 18,102, an increase of 1.9 percent over November 2014.
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