FOMC

The Norris Group Real Estate News Roundup 1/4/11

Nearly 5% of Freddie Mac’s single-family mortgages are seriously delinquent. The FOMC chose to keep the federal funds target rate between 0 to 0.25%. Office buildings added 2.5 million square feet of occupied space in the 4th quarter, according to REIS. The U.S. Bureau of Labor Statistics reports jobless rates rose in 49% of all U.S. metro areas.

The Norris Group Real Estate News Roundup 7/15/10

According to MDA DataQuick, 8,373 homes closed escrows in the Bay Area last month. Freddie Mac announced the average rate for 30-year fixed loans this week was 4.57 percent. The Federal Open Market Committee expects economic expansion to increase considerably slower over the next couple years than it previously expected. California is currently the second most popular place for foreign home buying.

The Norris Group Real Estate News Roundup 1/6/10

California Governor Schwarzenegger announced a new home buyer tax credit. The Mortgage Bankers Association reports that mortgage applications have increased by .4 percent since Christmas. The FOMC confirmed plans to buy $1.25 trillion in mortgage-backed-securities from Freddie Mac, Fannie Mae and Ginnie Mae. Eugene Ludwig believes that commercial real estate losses will break historical records in 2010.

The Norris Group Real Estate News Roundup 11/24/09

The CIRB reports that homebuilders pulled 6 percent less permits from September. American banks decreased lending by 2.8 percent in the third quarter. The FOMC suspects that the economy will take 5 years to return to an acceptable rate of growth. According to First American CoreLogic, 23 percent of all US homes are less valuable than the mortgages owed on them.

The Norris Group Real Estate News Roundup 11/4/09

The MBA’s weekly mortgage survey shows that loan application volume increased by 8.2 percent, on a seasonally adjusted bases, from last week.The FHA expects 24 percent of all loans insured in 2007 to default. The Federal Reserve’s FOMC announced that it will not buy the full $200 billion debt amount that it had previously planned to take. BarCap reports that the 30-plus day delinquency rate increased to 5.5 percent in October.

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