The NAR reports FHA, Fannie Mae and Freddie Mac account for over 90% of the mortgage market. New California building codes, known as CALGreen, will be enforced on January 1st. Richard Fisher of the Dallas Federal Reserve believes the low interest rates are doing little to stimulate the economy. Fannie Mae acquired 85,340 REO properties in the 3rd quarter.
According to the CBIA, condominium sales were 39 percent higher from last year. The MBA’s weekly survey shows that mortgage loan application volume increased by 14.3 percent from last week.Jumbo residential mortgage-backed securities increased to 9.2 percent from December 2008 to December 2009. All but two of the Federal Reserve districts reported increased activity or improved conditions.