May 11, 2017

Foreclosures Activity Decreases To Lowest in 12 Years

Today’s News Synopsis: Freddie Mac reported mortgage rates continue to hold steady with 30-year rates at 4.05% and 15-year rates at 3.29%.  ATTOM Data Solutions reported foreclosure activity decreased 7% month-over-month and 23% year-over-year to its lowest in 12 years.  Housing affordability increased slightly in the first quarter with 60.3%

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Mar 03, 2017

Janet Yellen Still Certain Rate Hike Will Occurr

Sources: Pending home sales drop unexpectedly to lowest in a year, down 2.8% in January Monthly US home-price gains reach a 2 1/2-year high Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage Rates Break Holding Pattern, Move Lower U.S. Initial Jobless Claims drop to Lowest in Almost 44 Years

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Feb 28, 2017

Latest S&P/Case-Shiller Index Show Home Prices Increase 5.8%

Today’s News Synopsis: The latest S&P/Case-Shiller Index showed home prices increased 5.8% to their highest in 2 1/2 years.  Interest rates also continue to show an upward trend according to the latest report from the Federal Housing Finance Agency.  Freddie Mac released their latest outlook for this month today. In

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Dec 15, 2016

NAHB Reports Increase in Homebuilder Sentiment by 7 Points

Today’s News Synopsis: Freddie Mac reported interest rates increased with 30-year rates now at 4.16% and 15-year rates at 3.37%.  The NAHB reported an increase in homebuilder sentiment by 7 points, putting it now at 70.  The CBIA shared how the recent big increase in home price from lack of

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Nov 23, 2016

I Survived Real Estate 2016 Part 5 #514

On Friday, October 21, the Norris Group proudly presents its 9th annual award-winning black tie event, I Survived Real Estate. An incredible lineup of industry experts will join Bruce Norris to discuss perplexing industry trends, head-scratching legislation and opportunities emerging for real estate professionals. Proceeds for the event benefit Make

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Sep 21, 2016

Fed Has Decided Not to Raise Interest Rates….For Now

Today’s News Synopsis: The Mortgage Bankers Association reported that even in the midst of mortgage-backed securities decreasing, mortgage debt for commercial and multifamily properties continues to increase.  The Federal Reserve has decided not to increase interest rates at this time, although the debate is not over yet as they are

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Apr 27, 2016

Pending Home Sales at Yearly High

Today’s News Synopsis:   The Mortgage Bankers Association reported a 4.1% decrease in mortgage applications from last week.  On the other hand, pending home sales increased to their highest in a year at 110.5.  Freddie Mac changed its prediction for the economy and now believes it is looking more like

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Dec 18, 2015

Yields by the Treasury at their Highest in Five Years

Sources: November home sales and price report Builder Confidence Edges Down One Point in December Single-Family Starts Reach Seven-Year High in November Morning Briefing: This age group makes up most US renters (and it’s not millennials) Why is the Gap for Risk Between First-Time and Repeat Homebuyers Widening? FHFA Proposed

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Nov 09, 2015

Of All Affordable Cities for Millennials, Buffalo, NY is #1

Today’s News Synopsis:   Standard mortgage modification rates are at their lowest on record at 3.875% according to the latest announcement by Fannie Mae and Freddie Mac.  Of all the cities most affordable for the millennial generation, Buffalo, New York is at the top of the list.  Eric Rosengren of

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Sep 17, 2015

Fed Finally Reaches Decision to Not Raise Interest Rates

Today’s News Synopsis:   The Fed has finally reached a decision to not raise interest rates for this month.  The NAHB reported a decrease in housing starts by 3%, putting them now at 1.126 million.  Freddie Mac reported mortgage rates have not shown much change with 30-year rates at 3.91%

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