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Buying More Affordable Than Renting in 66% of U.S. Markets

Today’s News Synopsis: The latest report from ATTOM Data Solutions shows 66% of markets in the U.S. believe it is more affordable to buy than to rent.  The Mortgage Bankers Association reported a 0.6% increase in mortgage credit availability last month.  Lending on commercial and multifamily properties is expected to be strong and healthy this …

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More Foreign Investors Leaving Real Estate Market

Today’s News Synopsis: In the wake of Brexit, refinance applications increased 14.2% from last week, their highest increase in 18 months.  A new, more up-to-date forecast of the commercial/multfiamily real estate market was released by the MBA, putting them both at about $500 billion this year.  More foreign investors are leaving the U.S. real estate …

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Increase in Interest Rates Frozen by the FOMC

Today’s News Synopsis:   Increases in interest rates were frozen once again by the Federal Open Market Committee.  The Mortgage Bankers Association released their first survey of 2016 for Commercial/Multifamily Originations, showing them to be 38% lower this quarter than the previous quarter of 2015.  Pending home sales increased 1.5% to 110.5 last month, putting them …

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Wells Fargo Required to Pay $1.2 Billion In the Largest Settlement in FHA History

Today’s News Synopsis:   Wells Fargo is required to pay $1.2 billion, the largest settlement in the history of the FHA, to cover the costs of bad loans that went undisclosed.  Another bank, Goldman Sachs, is also required to pay to cover the cost of toxic mortgage bonds in a $5 billion settlement.  The Mortgage …

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U.S. Census Bureau Releases Data On States With Highest Taxes on Properties

Today’s News Synopsis:   Unlike the millennial generation, more baby boomers are choosing to own a home as opposed to renting.  Mortgage debt on commercial and multifamily properties showed strong increase in 2015, increasing to $2.83 trillion in the fourth quarter.  The U.S. Census Bureau recently released their list of states with the highest taxes …

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Credit-Risk Sharing Bonds Will Continue to Be Issued By GSEs

    Sources: Delinquency Rate Continues Rapid Decline Driven by Higher Quality Originations Home Sales Up Year-Over-Year; Reach Highest Level Since 2008 Freddie Mac: Mortgage rates barely nudge, stay below 4% July home sale numbers are in California cool: Home sales drop 4% despite price plateau Builder Confidence Rises One Point in August Rising home, …

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Mortgage Fraud Decreased 2% by Quarter and 9% Year-Over-Year

    Today’s News Synopsis: CoreLogic reported an increase in home prices by 7.4% year-over-year in December.  Mortgage originations increased 27% quarter-over-quarter for both commercial and multifamily properties.  Mortgage fraud decreased last year by 2% quarter-over-quarter and 9% year-over-year according to Interthinx. In The News: Mortgage Bankers Association – “2014 Q4 Commercial/Multifamily Mortgage Originations Up Eleven …

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Employment in Private Sector Increases by 204,000

        Today’s News Synopsis: Freddie Mac reported mortgage rates are at a year’s low with 30-year rates at 4.1% and 15-year rates at 3.24%.  Employment in the private sector increased month-over-month by 204,000.  Commercial and multifamily delinquency rates decreased in the second quarter by 0.45% to 5.71% in the second quarter. In …

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Housing Market Held Back By Buyer Concerns

Today’s News Synopsis: The recent consumer survey by the Federal Reserve Bank of New York showed consumers in every region accept the South expect home prices to increase.  Outstanding mortgage debt for commercial and multifamily properties increased by $11.1 billion in the first quarter, a 0.4% increased from the fourth quarter.  The latest survey by …

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The Norris Group Real Estate News Roundup 3/4/14

Today’s News Synopsis: The Mortgage Bankers Association reported commercial and multifamily delinquency rates decreased 0.01 percentage points to 0.05% in the fourth quarter.  Another bank closed in Pennsylvania, putting the number of bank closures for 2014 now at 5.  HUD secretary Shaun Donovan just released the newest proposed budget for 2015. In The News: Housing …

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