House Financial Services Committee

Employment Sees Positive Numbers for June with 287,000 New Jobs

Sources: Mortgage Delinquency Mends While Student and Auto Loans Worsen Mortgage Rates: A Near-Record Low And A Near-Record Run The Brexit impact is real: Refis jump to 18-month high CoreLogic: Housing is ‘oasis of stability’ with 1.3% May home price gain Hillary or Donald: Who’s Better For Housing? Experts: Housing to Grow Steadily, But Maybe …

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Following Brexit, Jobs Report to Have Additional Review

  Today’s News Synopsis: The rate on seriously delinquent loans decreased to below 1/4 of where they were at the peak.  Mortgage rates are also at record lows with 30-year rates at 3.41%.  Following the situation with Brexit, economists planned to spend more time reviewing the jobs report for June. In The News: Housing Wire – …

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Number of One-Person Firms in the Construction Industry Totals 2 Million

Today’s News Synopsis: The Mortgage Bankers Association reported a 2.4% decrease in mortgage applications from last week.  The NAHB reported the number of one-person firms in the construction industry totals over 2 million.  Republicans in the House of Representatives revealed their plan yesterday to replace Dodd-Frank as well as help strengthen the economy. In The …

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Jeb Hensarling and Republicans Reveal Plan to Replace Dodd-Frank with Financial CHOICE Act

Today’s News Synopsis: Consumers are being warned by HUD to be on the lookout for scammers making false promises of giving a housing grant in exchange for a fee.  In an update on the situation with Dodd-Frank, the House Financial Services Committee chairman Jeb Hensarling and the Republican party presented their plan to replace the …

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Bruce Norris Believes Lender Hesitancy Holding Back Real Estate Growth

Today’s News Synopsis: In a story featuring our very own Bruce Norris, he believes one thing holding back growth in the real estate industry is lenders being selective about who they give loans.  The Mortgage Bankers Association reported delinquency rates for commercial/multifamily mortgages are still relatively low while CMBS loans are at an all-time low. …

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RentRange Releases List of Cities With Highest Rent Increases

Sources: Fannie Mae, Freddie Mac mortgage modification interest rate falls to new record low Distressed sales continue to drop CFPB’s rule to limit arbitration opens door to class action against banks Freddie Mac: 30-year mortgage rate falls to lowest level in 3 years Morning Briefing: Hot markets slowing, slow markets heating up More Distressed Borrowers …

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California in Housing Crisis Due to Lack of Inventory According to Christopher Thornberg

Sources: Mortgage rates hit 3-year low Applications for New Home Purchases Increased in March Commercial, multifamily lending hits near-record level Mortgage Credit Availability Tightens Up Mortgage Credit Access Reverses Course Morning Briefing: Wells Fargo to pay $1.2 billion for hiding bad loans Big bank settlement for loan origination is largest in FHA history Goldman Sachs …

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Housing Starts for Single-Family Homes Increase to Highest in 9 Years

Today’s News Synopsis:   Housing starts for single-family homes increased by 5.2% to 1.178 million, their highest in nine years.  More people are choosing to rent as opposed to buy over the next three years despite the increases in rents.  The Mortgage Bankers Association reported a 3.3% decrease in mortgage refinance applications from last week. …

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Builder Confidence Remains The Same at 58

Today’s News Synopsis:   The latest housing market index from the NAHB showed builder confidence remained relatively the same at 58.  Regarding real estate developments considered more risky, fewer lenders are willing to take those risks and are becoming more picky.  A  large mortgage bond deal totaling almost $2 billion is about to be put …

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