California Real Estate Headline Roundup

Mike Novak-Smith and Ted Boecker of REMAX Join Bruce Norris on the Real Estate Radio Show #430

April 17th, 2015

REO agent RE/Max (Full Bio) Owner and Broker RE/Max (Full Bio) Bruce Norris is joined this week by Ted Boecker and Mike Novak-Smith. Ted is the owner and broker of RE/Max Results in Moreno Valley. He started the company in 1989, and he has been experienced at practicing law and being a general contractor. He has

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Wells Fargo Breached 2010 Contract Regarding ARMs According to Recent Ruling By Judge

April 17th, 2015

          Sources: Purchase mortgage application volume reaches highest level since July 2013 Daily Market Update: Mortgage rates slightly higher this week Mortgage Applications Decrease in Latest MBA Weekly Survey Housing starts and permits show deep weakness in March RealtyTrac: Foreclosures see first year-over-year increase since 2010 Based on Recent Signs, Analysts Still Hold High Hopes for Housing

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Neighborhood Stabilization Pilot Program Started By FHFA to Help Neighborhoods Hit Hard by Downturn

April 16th, 2015

  Today’s News Synopsis: Both permits and housing starts saw a 5.7% decrease last month and now stand at 1,039,000.  Foreclosures increased for the first time in five years by 4% in March according to RealtyTrac.  A new program known as the Neighborhood Stabilization Pilot Program was just started by the FHFA

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CFPB Makes Final Decision Regarding Providing Lists of Homeownership Counseling Organizations

April 15th, 2015

  Today’s News Synopsis: The House passed the Mortgage Choice Act in  a 286-140 vote.  Mortgage rates increased slightly this past week with 30-year rates now at 3.58% and 15-year rates at 2.87%.  Another final decision was also made by the CFPB regarding lender rules for providing lists of homeownership counseling

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Mortgage Choice Act of 2015 to be Discussed in the House of Representatives Today

April 14th, 2015

  Today’s News Synopsis: A new bill, the Mortgage Choice Act of 2015, will be discussed in the House of Representatives today regarding the definition of mortgage in the Dodd-Frank Wall Street Reform and Consumer Protection Act.  The opinions of appraisers regarding home values decreased by .4%, yet homeowners are still optimistic

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38% of Millennials Prefer Holding Off on Wedding to pay for Home

April 13th, 2015

  Today’s News Synopsis: Applications for homebuyers increased 7%  to their highest level since summer of 2013.  Analysts are still optimistic about the housing market recovering this year with recent improvements in new and pending home sales.  Redfin recently conducted a survey showing that 38% of millennials would rather spend money

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Fed Still Waiting To See If Time Is Right For Interest Rate Hike

April 10th, 2015

          Sources: Distressed Sales Share Falls to Lowest Level in Eight Years Second look: Home price surge unlikely to last Applications for New Home Purchase Increased in March Fannie Mae: Slow Wage Growth Stalls Consumer Housing Sentiment Mortgage rates decline on weaker jobs report Non-bank companies step in to fill mortgage void CFPB fines mortgage lender $250K for

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Coldwell Banker Pioneer Owner Lance Martin Joins Bruce Norris on the Real Estate Radio Show #429

April 10th, 2015

Lance Martin Owner of Coldwell Banker Pioneer Real Estate (Full Bio) Bruce Norris is joined again this week by Lance Martin. Lance has been in the real estate business for nearly 30 years as a broker owner of Coldwell Banker Town and Country Real Estate, which serves the Inland Empire. Lance is an

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All Cash Sales for Homes Decrease to 38.9% in January

April 9th, 2015

  Today’s News Synopsis: New home purchase applications increased last month by 17% according to the Mortgage Bankers Association.  All cash sales for homes decreased in January to 38.9%, down from 41.4% year-over-year.  Mortgage rates decreased again with the weak job market; 30-year rates now stand at 3.66% and 15-year rates

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Increase in Non-Revolving Debt Leads to More Consumers Borrowing Money

April 7th, 2015

  Today’s News Synopsis: The Mortgage Bankers Association reported the amount of mortgage credit that is available increased last month by 2.3% to 12.  In addition, consumer credit or the amount of money borrowed by consumers, increased in February with the increase in non-revolving debt.  CoreLogic reported the increase in home

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