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Does the Thought of a Recession Scare You? #367

Real Estate News Recap: 93.9% Of Homes in the US Have Positive Equity Nice Rebound in Builder Confidence – NAHB Home Prices Jump 6.2 Percent in Second Quarter; Eclipse 2016 High Pitiful Housing Supply Slighted Dampened Q2 Home Sales Home Sales Fell 3.5 Percent in July, the 22nd Consecutive Month to Post an Inventory Decline …

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HARP Plan Extended to 2017 As FHFA Prepares New Refinance Plan

Today’s News Synopsis: The HARP plan has been extended into 2017 in order to allow people to be better prepared for the new refinance plan launching at the end of next year.  The market for apartments and condos now stands at 50 after decreasing three points.  The number of baby boomers choosing to invest in …

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Mel Watt Speaks on Less GSE Conservatortorship and More Finance Reform

Today’s News Synopsis:   The Mortgage Bankers Association reported a decrease down to 4.77% for mortgage delinquencies while foreclosure loans went down two basis points to 0.36%.  Speaking of mortgages, Freddie Mac reported rates have remained relatively constant with 30-year rates at 3.65% and 15-year rates at 2.95%.  Mel Watt, the director of the FHFA, …

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NAHB Reported a Decrease in Both Builder Confidence and Housing Starts

Today’s News Synopsis:   The NAHB reported a decrease in builder confidence this month while also reporting a 3.8% decrease in housing starts for the month of January.  The MBA reported an 8.2% increase in mortgage refinance applications from last week.   Ed Delgado, the president of Five Star Institute, met with Hud Secretary Julián …

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MERS Experiences Victory this Week

Sources: Black Knight: Home prices maintain trend, move higher Led by Housing, Economy Suffers Slight Setback to End 2015 Morning Briefing: Existing home sales set new monthly-gain record 2015 New-Home Sales Reach Eight-Year High Freddie Mac: Mortgage rates drop four consecutive weeks Pending Sales of Existing Homes in U.S. Rise Less Than Forecast Morning Briefing: …

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Consumers Own Views of the Market Seems to Be Leading Cause of Rising Home Prices

      Sources: Daily Market Update: Low income families can’t afford event the least expensive homes CFPB Report Finds 26 Million American Adults Have No Credit History Fannie Mae: More consumers positive on housing, but still on sidelines Claren Financial: The mortgage market faces 3 more years of recovery 4 Percent of All U.S. Single …

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As Credit Card Usage Decreases, Consumer Credit Increases at Slower Rate

          Sources: Pending home sales reach highest level since August 2013 Construction spending slows in January CoreLogic: Home prices gain nearly 6% Commercial/Multifamily Delinquencies Continue Decline Homeownership rates at lowest level since 1994 FHFA revamps nonperforming mortgage servicing rules for Fannie and Freddie Non-Performing Loan (NPL) Sale Requirements Real Estate Crowdfunding …

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New Ruling by CFPB Will Help Property Heirs Avoid Foreclosure

  Today’s News Synopsis: CoreLogic reported foreclosures decreased again this past May by 9.4% with 47,000 completed that month.  The amount of available mortgage credit increased last month by 0.6% to 115.8, up from 115.1.  A new ruling was just issued by the CFPB that will help heirs of property to be included on the …

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