California Real Estate Headline Roundup

Both Parties of Congress Ask for Grace Period on TILA-RESPA

May 28th, 2015

    Today’s News Synopsis:   The sale of existing homes still on the market increased last month by 3.4%.  Mortgage rates are at their highest for this year with 30-year rates at 3.87% and 15-year rates at 3.11%.  Both parties of Congress have asked for a grace period on the TILA-RESPA Integrated

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Fannie Mae Reports Better News for Housing Market Compared to Economy as a Whole

May 27th, 2015

    Today’s News Synopsis:   The Mortgage Bankers Association reported another decrease in mortgage applications from last week, this time by 1.6%.  Meanwhile, sales of new homes increased by 6.8% at 517,000.  Fannie Mae reported good news for the housing market, which appears to be doing better than the economy as a

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First-Time Buyer Mortgage Risk Index Shows Increased Risk in Mortgage Loans

May 26th, 2015

    Today’s News Synopsis:   Home prices saw a 5% increase in 20 cities throughout the United States.  Both mortgage risk and first-time buyer shares increased with first-time buyers making up 57.9% of mortgages on owner-occupied homes and mortgage risk at 52.2%.  The First-Time Buyer Mortgage Risk Index showed an increased risk

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New Financial Regulatory Relief Bill Approved

May 22nd, 2015

      Sources: Builder Confidence Falls Two Points in May Housing Production Jumps 20.2 Percent in April Delinquencies hit lowest rate since before financial crisis California Median Home Price Soars Past $400,000 Mark – Highest Since December 2007 Mortgage rates remain largely unchanged from last week Freddie Mac: Rising rents aren’t pushing residents to homeownership Privatizing Fannie & Freddie

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Ward Hanigan, Founder of, Joins Bruce Norris on the Real Estate Radio Show #435

May 22nd, 2015

Foreclosure Specialist, InnoVest Resource Management (Full Bio) Bruce Norris is joined again this week by Ward Hanigan. Ward is a full-time foreclosure specialist and trainer and is located in San Diego County. He brings you over 30 years of real estate experience with a degree in economics and a doctorate in law.

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Existing Home Sales See Unexpected 3.3% Decrease

May 21st, 2015

    Today’s News Synopsis:   Foreclosure starts experienced a 3% growth in April and 9% year-over-year, putting them at their highest in 18 months.  However, at the same time foreclosure completions decreased by almost 25% year-over-year. Mortgage rates have shown little change with 30-year rates at 3.84% and 15-year rates at 3.05%.

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Mortgage Debt Being Handled More Efficiently Due to Decrease in Delinquencies and Write-Offs

May 20th, 2015

    Today’s News Synopsis:   The Mortgage Bankers Association reported a 1.5% decrease in mortgage applications from last week.  Mortgage debt is being handled better due to the decrease in delinquencies and write-offs.  Changes to the TILA-RESPA rule could lead to increased risk for mortgage-backed securities according to Moody’s Investors Service.  The

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Housing Starts Increase 20.2% in April

May 19th, 2015

    Today’s News Synopsis:   TransUnion reported a decrease in mortgage delinquency rates, which now stand at 2.95%, the first time they have been below 3% since prior to the financial crisis.  Housing starts increased 20.2% in April and now stand at 1.135 million units.  Freddie Mac expects interest rates to continue

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Zombie Foreclosures to be Dealt With by New Practices from 11 Institutions

May 18th, 2015

    Today’s News Synopsis:   Zombie foreclosures are continuing to be dealt with as New York Governor Andrew Cuomo just announced new practices for these foreclosures will be carried out by 11 institutions.  Fewer people intend to own a home despite the increase in rents, which normally would push them to buy.

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New Home Purchase Applications Increase 0.3% Last Month

May 15th, 2015

      Sources: Mortgage industry gains nearly 2000 jobs NAR: Tight inventory, demand push home prices higher in first quarter Mortgage rates move higher for third week in a row Report: Senator Drafting Proposal to Reform Federal Reserve Foreclosure Inventory, Completions Continue Decline Toward Pre-Crisis Levels Top-Ranked Bond Manager Itching for New Breed of Risky Mortgages   Today’s News

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