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New 3% Mortgage Program by Freddie Mac Set to Begin Operation Monday

          Sources: Builder Confidence Drops Two Points in March Commercial/Multifamily Mortgage Debt Outstanding Grew at the Fastest Pace Since 2007 Southern California home prices rise, sales fall in February Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage rates falling; 30-year drops to 3.78%, Freddie Mac says CoreLogic: More than 1 …

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The Norris Group Real Estate News Roundup 9/24/13

Today’s News Synopsis: Several large banks are facing a lawsuit on terms that they lead to the failure of two credit unions by selling them faulty mortgages.  Home prices increased in July by 1.9% month-over-month and 12.3% year-over-year according to the latest Case Shiller Index.  At the same time, consumer confidence decreased this month to …

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The Norris Group Real Estate News Roundup 1/22/13

Today’s News Synopsis: According to the latest Zillow Home Value Index, values increased 5.9% in 2012 and are at their highest since 2006.  Sales for existing homes decreased back in December month-over-month 1% in addition to inventory decreasing 8.5%.  However, year-over-year, existing home sales actually increased 12.8%. In The News: Los Angeles Times – “Home …

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The Norris Group Real Estate News Roundup 9/21/12

Sources: Missouri Bank Failure Brings Tally to 42 California home sales decline in August; median price hits four-year high, C.A.R. says List of Improving Markets Rises to 99 in September: NAHB Builder Confidence Continues to Gain Momentum in September Shrinking inventory bolstering many housing markets First-Time Jobless Claims Dip, Remain Elevated Mortgage rates return to …

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The Norris Group Real Estate News Roundup 3/12/12

Today’s News Synopsis: In a big story, a $25 billion settlement was filed today regarding robo-signing, a settlement that could increase short sales.  Another bank closed in Illinois, bringing the total now to 13.  In an attempt to get mortgage settlers to act more quickly when settling mortgage write-downs, they will be given higher credit …

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The Norris Group Real Estate News Roundup 9/12/11

Today’s News Synopsis: According to Bloomberg, a big story in the news is the real estate property for several market chains, including Ruby Tuesday and Cracker Barrel, is actually worth more than the restaurants themselves.  In the next several years, Bank of America plans on cutting 30,000 jobs.  Housing Wire reported Standard & Poor’s parent company …

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The Norris Group Real Estate News Roundup 6/29/11

Today’s News Synopsis: Bloomberg reported an increase of 8.26% in pending sales for existing homes.  Bank of America and RMBS investors have reached a settlement in their recent suit regarding a loss of money for investors.  Mortgage applications saw a decrease of of 2.7%, according to the Mortgage Bankers Association.  Ally Financial has been subpoenaed …

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The Norris Group Real Estate News Roundup 4/5/11

Two Wall Street firms claim housing prices will continue to fall through the present quarter. REIS reports the national office vacancy rate fell to 17.5% in the first quarter. A Harris Poll shows 22% of U.S. homeowners are having difficulty making their mortgage payments. A new RealtyTrac feature allows users checking home listings to see how much equity each property has.