JP Morgan

The Norris Group Real Estate News Roundup 2/22/13

Sources: Builder Confidence Virtually Unchanged in February Freddie Mac: Rental Sector Shows Growth, but Lacks Affordability HARP hits 2 million refinances Housing Starts Down on Typical Multifamily Volatility; Permits Hit Four-Year High U.S. 30-Year Mortgage Rates Rise to Highest Since August Existing-Home Sales Inch Up; Inventory at Lowest Level Since 1999 January Existing-Home Sales Hold …

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The Norris Group Real Estate News Roundup 7/28/11

Today’s News Synopsis: The sales for existing homes increased 2.4% in June according to Bloomberg.  However, chief economist for Fannie Mae warned this does not necessarily mean a turn-around in the market.  In other news, despite a huge decrease in foreclosures in 84% of U.S. cities, there are still ten cities with high foreclosure rates and …

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The Norris Group Real Estate News Roundup 7/27/10

The S&P home price index suggests that prices increased by 1.3 percent from April to May. 91 of the top 100 homebuying zip codes are in California. The vacancy rate for rental housing has remained flat at 10.6 percent for the past year. MPF Research reports the number of occupied apartments grew by 215,000 in the 64 largest U.S. markets in the first half of 2010.

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 7/13/10

MDA DataQuick reports 23,871 homes were sold in Southern California last month. Statistics from CoreLogic show that prices in May grew 0.9% from the month before. According to Foreclosure Radar, lenders canceled nearly 22,000 California foreclosure sales in June. A comparative analysis from Credit Suisse shows that the cost of owning a home is cheaper than renting in multiple areas.

The Norris Group Real Estate News Roundup 6/24/10

According to the CIRB, building permits were pulled for 3,088 housing units in May. Statistics from Freddie Mac show the 30-year fixed-rate mortgage averaged 4.69% last week. Several large banks, such as JP Morgan, are hiring thousands of mortgage officers in preparation to make more loans. TIGTA estimates the IRS awarded $26.7 million to fraudulent home buyer tax credit claims.

The Norris Group Real Estate News Roundup 6/11/10

The MBA believes the new FHA Reform Act will have a positive effect on FHA’s finances. Tom Beede of Metrolist Services reports 58 percent of May home sales in Sacramento County were short sales. Congress may extend the home-buyer tax credit due to the inability of lenders to finish all applications within the current due date.

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