CoreLogic: Foreclosures continue downward trend in September
U.S. Mortgage Rates Rise With 30-Year at Highest Since July
Freddie Mac: Mortgage rates move higher amid potential interest rate hike
Buffalo tops list of most affordable cities for millennial homeowners
Fed’s Rosengren Signals Readiness to Lift Rates Amid Strong Data
Economic Data Will Ultimately Determine When the Fed Will Raise Rates
Morning Briefing: Housing sentiment flat amid interest rate expectation
HUD is about to ban smoking in housing
Today’s News Synopsis:
In The News:
DS News – “‘New’ Severe Delinquencies Tumble to 2009 Level” (11-12-15)
“The percentage of “new” severe delinquent residential mortgages reported for September 2015—that is, the number of severely delinquent loans that were current six months ago—was the lowest of any September since 2009, according to Black Knight Financial Services.”
Mortgage Bankers Association – “Applications for New Home Purchases Decreased in October” (11-13-15)
“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for October 2015 shows mortgage applications for new home purchases decreased by 8 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.”
Mortgage Professional America – “Education component needed for reverse mortgages” (11-6-15)
“Reverse mortgages remain popular at home and in the Canadian market as well – but that hasn’t diminished a fundamental misunderstanding on how it works.”
DS News – “LoanDepot Delays IPO at the 11th Hour” (11-13-15)
“On the day before it was set to go public, loanDepot Inc., announced it would delay its initial public offering amid volatile market conditions.”
Mortgage Professional America – “Morning Briefing: FHA condo policy changes announced” (11-13-15)
“The Federal Housing Administration is to make changes to its condo policy. The National Association of Realtors together with the HUD has been pushing for amendments to “over restrictive” existing policy.”
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with SDCIA on Tuesday, December 8.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Prosperity Through Real Estate on Tuesday, January 5.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with CVREIA on Tuesday, January 12.
Image copyright source: www.flickr.com/photos/18378305@N00
Mortgage rates continued to remain low with 30-year rates at 4.01% and 15-year rates at 3.20%. The Mortgage Bankers Association reported new home purchase applications increased the previous month 8%. Home affordability declined in the third quarter at 61.8% according to the NAHB.
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