California Real Estate Headline Roundup

GDP Growth Slows in Third Quarter, but Still Exceeds Expectations

October 30th, 2014

Copyright: Image from www.flickr.com/photos/lendingmemo/       Today’s News Synopsis:   Freddie Mac reported mortgage rates increased from their lowest this year with 30-year rates increasing to 3.98% and 15-year rates to 3.13%.  GDP growth in the third quarter showed signs of decrease, although on a positive note it still exceeded expectations.  More and more buyers are

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FOMC Announces End to Tapering

October 29th, 2014

Copyright: Image from www.flickr.com/photos/fsecart/       Today’s News Synopsis:   In a big news story, the FOMC announced the end to tapering with the closure of their Quantitative easing program.  The Mortgage Bankers Association reported a 6.6% decrease in mortgage applications from last week.  Foreclosures also decreased by almost a third year-over-year in September.   In The News: Mortgage

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Homeownership Rate Decreases to Lowest Since 1995

October 28th, 2014

Copyright: Image from www.flickr.com/photos/106574022@N04       Today’s News Synopsis:   Home prices continue to increase with their recent gains of 5.5% year-over-year and 0.2% month-over-month according to the latest Case-Shiller Index.  The homeownership rate decreased to its lowest since 1995 with its recent drop to 64.4 percent from 64.7% in the third quarter.  The risk of

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Investors Ready to tackle Largest Portfolio of the Year

October 27th, 2014

Copyright: Image from www.flickr.com/photos/geekmojo       Today’s News Synopsis:   Pending home sales increased only slightly by 0.3% last month, below expectations.  Consumer optimism decreased in the third quarter by 17 percentage points for owners wishing to sell their homes.  Investors are getting ready to trade the largest portfolio from this year comprised of pre-bust non-agency

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The Norris Group’s 7th Annual I Survived Real Estate Event Held Tonight at the Nixon Library

October 24th, 2014

        Today’s News Synopsis: Tonight is the night for the Norris Group’s annual event I Survived Real Estate 2014!  The video this week highlights the events main speakers, our sponsors for the event, and thanks everyone for their help and support.  New U.S. home sales increased last month, although not by much

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Christopher Thornberg Joins Bruce Norris on the Real Estate Radio Show #405

October 24th, 2014

  Christopher Thornberg Principal of Beacon Economics (Full Bio) On Friday, October 24, the Norris Group proudly presents its 7th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts will join Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real estate professionals. Proceeds from

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Risk Retention Rule Approved by Six Federal Agencies

October 23rd, 2014

Copyright: Image from www.flickr.com/photos/renaissancechambara/     Today’s News Synopsis: The new risk-retention rule has finally and officially been approved by six federal agencies.  Mortgage rates decreased this past week with 30-year rates now at 3.92% and 15-year rates at 3.08%.  Home prices in the U.S. increased 0.5% in August, above economists’ expectations.   In The News: Housing Wire

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California Real Estate Market Slow Right Now with Increase in Prices and Decrease in Demand

October 22nd, 2014

Copyright: Image from www.flickr.com/photos/auvet       Today’s News Synopsis: The Mortgage Bankers Association reported mortgage refinance applications increased 11.6% from last week.  PropertyRadar believes the California real estate market is slow right now with the increase in home prices and decrease in demand.  Senator Elizabeth Warren and Congressman Elijah Cummings have asked for an investigation

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Capitol Economics Optimistic About Economic Recovery After Seeing Increase in Existing Home Sales

October 21st, 2014

Copyright: Image from www.pallspera.com       Today’s News Synopsis: Existing home sales increased by 2.4% last month to a 5.17 million annual rate, leading organizations like Capital Economics to be optimistic about the economy improving.  The Mortgage Bankers Association is also optimistic mortgage originations will increase 7% in 2015.  A new QRM rule is in

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Maryland Bank Closes After Three Months of No Bank Failures

October 20th, 2014

Copyright: Image from www.flickr.com/photos/mlrs193/       Today’s News Synopsis: Bill Cosgrove, who will be featured on the panel for I Survived Real Estate 2014, spoke at the MBA’s 101st Annual Convention & Expo about Dodd-Frank to the future of America’s housing.  A bank in Maryland recently closed its doors after three months of no bank

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