California Real Estate Investing News

Posts Tagged ‘mortgage portfolio’

Latest Multifamily Production Index Comes in at 54 for the Fourth Quarter of 2014

Thursday, February 26th, 2015

 

Today’s News Synopsis:

Mortgage rates continued to show signs of increase for the third week in a row with 30-year rates at 3.80% and 15-year rates at 3.07%.  Developer sentiment continues to remain above 50 for the multifamily market for the third week straight.  The latest Multifamily Production Index came in at 54 for the fourth quarter of 2014.  Home prices increased 1.4% in the fourth quarter in December.

In The News:

DS News“Morgan Stanley Agrees to Pay $2.6 Billion to Resolve RBMS Claims” (2-25-15)

“Investment firm Morgan Stanley agreed in principle on Wednesday to pay $2.6 billion to resolve claims that it packaged and sold faulty residential mortgage-backed securities leading up to the financial crisis, according to multiple media reports.”

Housing Wire“Freddie Mac: Mortgage rates increase three weeks straight” (2-26-15)

“Although mortgage rates grew for the third consecutive week, they still remain near lows experienced in late May 2013, the latest Freddie Mac Primary Mortgage Rate Survey found.”

NAHB – “Developers’ Sentiment About Multifamily Market Holds Steady in the Fourth Quarter” (2-26-15)

“The Multifamily Production Index (MPI), released today by the National Association of Home Builders (NAHB), held steady with a reading of 54 for the fourth quarter of 2014. This capped the third straight year of quarterly readings consistently at 50 or above.”

Housing Wire“Fannie Mae: Strong job growth could boost economy” (2-26-15)

“Despite the slate of bad news that’s started off 2015, Fannie Mae’s analysts predict that the economy is poised for a pickup in growth in 2015.  Fannie’s Economic & Strategic Research Group say they expect a strengthening employment sector, rising income growth, and declining commodity prices.”

DS News“FHA Commissioner Reaffirms Commitment to Middle Class, Administration’s Role” (2-26-15)

“Federal Housing Administration (FHA) Acting Commissioner Biniam Gebre reaffirmed his organization’s commitment to America’s middle class as well as the role of the Administration and defended the FHA’s recent lowering of the mortgage insurance premiums in statement released Thursday.”

Mortgage Professional America“Daily Market Update: New home sales hold steady” (2-26-15)

“Newly released data from the US Department of Housing and Urban Development and the U.S. Census Bureau show that sales of new homes was down slightly in January, falling 0.2% to an adjusted annual rate of 481,000.”

Housing Wire – “FHFA: House prices edge up 1.4% in December” (2-26-15)

“House prices rose 1.4% in the fourth quarter of 2014 according to the Federal Housing Finance Agency house price index.  This is the fourteenth consecutive quarterly price increase in the purchase-only, seasonally adjusted index. FHFA’s seasonally adjusted monthly index for December was up 0.8% from November.”

Mortgage Professional America“TRID: I don’t think it means what you think it means” (2-26-15)

“The new integrated disclosure rule is set to take effect in August 1 and is something the mortgage industry has been warned about again and again. However, while many are aware of the rule, they are unaware of one of its key changes, according to a recent poll conducted by mortgage data firm Secure Settlements Inc. (SSI).”

DS News“Freddie Mac’s Mortgage Portfolio Contracts; Serious Delinquency Rate Hits 6-Year Low” (2-26-15)

“Freddie Mac’s total mortgage portfolio contracted to start 2015 after ending 2014 with hits highest annualized growth rate for a single month in five years while the serious delinquency rate for the Enterprise’s loans fell to a six-year low, according to the Enterprise’s January 2014 Monthly Volume Summary released Thursday.”

 

Hard Money Loan Closed

Lakewood, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $250,000 on a 3 bedroom, 2 bathroom home appraised for $482,000.

Lakewood Hard Money Loan closed by the Norris Group

 

California Real Estate Investor Events

Bruce Norris of The Norris Group will be holding his Norris Group Property Buying Bootcamp Tuesday, March 3 through Thursday, March 5.

Bruce Norris of The Norris Group will be speaking at Coldwell Banker’s  2015 Real Estate Forecast Wednesday, March 4.

Bruce Norris of The Norris Group will be speaking at LA South REIA presenting How to create a $100,000 Payday Per Deal in 2015 on Monday, March 9.

 

Looking Back:

The FHFA reported home prices increased 7.7% in the fourth quarter along with other goods and services, which showed a 0.7% increase.  New home sales increased the previous month by 9.6%, the highest in over five years.  Mortgage applications showed an 8.5% decrease in the latest Mortgage Bankers Association Application survey.

 

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

Copyright: Image from www.flickr.com/photos/25205705@N02/

 

 

The Norris Group Real Estate News Roundup 4/25/12

Wednesday, April 25th, 2012

Today’s News Synopsis:

Big day for mortgages.  The Mortgage Bankers Association reported a decrease in mortgage applications by 3.8% even though rates continue to stay low.  Freddie Mac’s mortgage portfolio also showed a decrease of 2.9%.  Realty Times believed troubles in Europe are one of the things keeping mortgage rates steady.

In The News:

Mortgage Bankers Association“Mortgage Applications Decrease Despite Survey Low Rates in Latest MBA Weekly Survey” (4-25-12)

“Mortgage applications decreased 3.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 20, 2012.”

Housing Wire“Freddie Mac mortgage portfolio shrinks in March” (4-25-12)

“Freddie Mac, the government-sponsored enterprise, released its March 2012 monthly summary showing that its mortgage portfolio contracted at an annualized rate of 2.9% in the month, while loan modification and delinquency rates held steady.”

Realty Times“Euro Zone Troubles Continue to Help Low Mortgage Rates Remain Firm” (4-25-12)

“It was a mixed week for investors who dealt with corporate earnings here in the U.S. and more disappointing news coming from Europe. Many corporate earnings were better than expected and had investors optimistic, as least for a little while. Euro zone troubles are continuing to help low mortgage rates remain firm as more countries in Europe are having difficulty with austerity plans.”

DS News“FOMC Maintains Rate Posture, Sees Continued “Depressed” Housing Sector, Forecast Sees Higher Rates in Two Years” (4-25-12)

“With a lone dissent, the Federal Open Market Committee Wednesday voted no change in the target federal funds rate.  After the meeting, the FOMC released its quarterly forecast of the economy and interest rates with more members of the Committee seeing higher rates in 2014 than in the prior forecast.”

Bloomberg“Housing Declared Bottoming in U.S. After Six-Year Slump” (4-25-12)

“The U.S. housing market is showing more signs of stabilization as price declines ease and home demand improves, spurring several economists to call a bottom to the worst real estate collapse since the 1930s.”

Inman“Rent Rite Directory adds tenant screening” (4-25-12)

“A national website that offers a free, searchable database of problem tenants for real estate brokers, agents, property managers, and landlords is now offering tenant screening services.”

CNN Money“Companies see slower growth ahead” (4-25-12)

“In what could be yet another sign that the recovery is losing momentum, a new survey shows medium-sized companies are still not confident enough to hire.  Mid-sized firms — which have between $10 million and $1 billion in revenue — expect their sales to grow 7% over the next 12 months, according to a new economic indicator released Wednesday by Ohio State University’s National Center for the Middle Market.”

Housing Wire“Senate concerned HARP restricts mortgage servicer competition” (4-25-12)

“Leaders of a Senate banking subcommittee renewed a push to keep expanding the Home Affordable Refinancing Program, but they raised concerns over big-bank domination of HARP.

CNN Money“Forecast for teen summer job market: Mostly sunny” (4-25-12)

“If your teenage kids are yearning to earn some pocket money or save up for college, here’s some happy news. Companies are stepping up their summer hiring. This year’s wages will hold steady with last year’s at an average of $10.90 an hour. Moreover, most hiring managers (57%) say a teen’s greatest competition for a job will come from other high school and college students.”

Hard Money Loan Closed

Burbank, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $340,000 on a 3 bedroom, 2 bathroom home appraised for $550,000.

California Real Estate Investor Events:

Bruce Norris of The Norris Group will be at All In or Fold on Saturday, April 28, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the Real Estate Investor Rewind for SJREI at Dublin on Wednesday, May 02, 2012.

Looking Back:

The Commerce Department reported new home sales increased 11% in March 2011. A study showed that short sales and foreclosures equally damaged FICO scores. A survey from Pew showed 81% of adults believed purchasing a home was the best long-term investment a person could make. Morgan Stanley believed home prices would fall 6-11% in 2011.

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.