Today’s News Synopsis: Can you rent an apartment with bad credit? The Mortgage Bankers Association reported a 5.6% decrease in mortgage applications from last week. It could cost you up to $76,000 to sell your home in some cities. In The News: Mortgage Bankers Association – “Mortgage Applications Decrease in Latest MBA Weekly Survey” (4-10-2019) “Mortgage …
Today’s News Synopsis: Several large banks are facing a lawsuit on terms that they lead to the failure of two credit unions by selling them faulty mortgages. Home prices increased in July by 1.9% month-over-month and 12.3% year-over-year according to the latest Case Shiller Index. At the same time, consumer confidence decreased this month to …
Today’s News Synopsis: The Mortgage Bankers Association reported another increase in mortgage applications at 16.6%. The Lender Processing Services reported foreclosures still remain high at 6.49% for judicial states and 2.28% for non-judicial states. At the same time, prepayment rates are at their highest since 2005 with the decrease in borrowing costs. In The News: …
The Commerce Department reports personal incomes increased 0.5% in March. Freddie Mac said 30 year mortgage rates dropped to 4.78% last week. Orange County apartment rents rose 1.6% in the first quarter.
68,239 Notices of Default (NoDs) were recorded at county recorders offices in the 1st quarter, according to MDA DataQuick. Statistics from the Commerce Department show housing starts increased 7.2% in March. A California bankruptcy court says MERS cannot help a trustee establish legal standing to foreclose on a securitized mortgage. The FDIC closed six banks on April 15th.
A Survey from Harris Interactive shows 70% of Americans aspire to homeownership. According to S&P/Case-Shiller, national home prices fell 4.1% in the 4th quarter of 2010. FNC Residential seems to confirm this saying home prices fell 2.2% in December. CB Richard Ellis Group expects office rents to increase this year.
The Federal Reserve will require borrowers who get their mortgages through a broker to receive the lowest possible interest rate. LPS claims the national delinquency rate increased to 8.9% in January. A lawyer was held in contempt of court for helping his clients break back into their house after the foreclosure was ruled legitimate. RadarLogic said national home prices decreased 1.6% in December.
The CBIA reports total building permits issued during 2010 increased 23% from 2009. Statistics from Trulia show that owning a home is cheaper than renting one in 72% of the largest cities in the United States. Commercial property values rose 0.6% in November, according to Moody’s.
According to Freddie Mac, rates on 30-year FRMs fell to 4.77% this week. Altos Research reports home prices fell 1.63% in December. Timothy Geithner requested from Congress to increase the national debt limit. The current debt limit is $14.29 trillion, and the nation’s current debt level is just $335 billion short of the limit.
Tom Wind of J.I. Kislak Mortgage expects refinancing activity to drop by nearly 66% in 2011. Moody’s Investor Service forecasts lower supply and higher demand for rental apartments in 2011. The 50 state attorneys general probing U.S. foreclosure practices will first settle with Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial. Rick Sharga believes foreclosure activity will improve in Orange County during 2011.