The Norris Group Real Estate News Roundup 5/24/11

According to the Census Bureau, home sales rose 7.3% in April. NAR expects the national economy to add 1.5 million and 2 million jobs annually both this year and in 2012. Borrowers who default on mortgages are less likely to develop long-term poor credit in comparison to those who default on credit cards and auto loans. Ginnie Mae guaranteed over $26.4 billion in mbs during April.

The Norris Group Real Estate News Roundup 11/29/10

The serious delinquency rate on Fannie Mae’s single-family mortgages decreased to 4.56% in September. The average loan in foreclosure has been in foreclosure for 492 days. Fannie Mae and Freddie Mac are encouraging real estate agents to continue selling foreclosures. According to Real Capital, the commercial mortgage default rate fell to 4.36 percent.

The Norris Group Real Estate News Roundup 11/8/10

The NAR reports FHA, Fannie Mae and Freddie Mac account for over 90% of the mortgage market. New California building codes, known as CALGreen, will be enforced on January 1st. Richard Fisher of the Dallas Federal Reserve believes the low interest rates are doing little to stimulate the economy. Fannie Mae acquired 85,340 REO properties in the 3rd quarter.

The Norris Group Real Estate News Roundup 10/12/10

Multiple states are cooperating in an investigation to determine whether or not lenders violated foreclosure laws when seizing houses from delinquent borrowers. The U.S. is now the second largest holder of U.S. debt. A survey from the National Association for Business Economics shows that economists expect gross domestic product will increase 2.6% in 2010 and 2011. According to a Thomson Reuters survey, 63% of potential home buyers are discouraged from buying a home because of the current economic conditions.

The Norris Group Real Estate News Roundup 10/8/10

ZipRealty reports 24.2% of homes in the nation’s 26 major markets experienced experienced a price cut in September. Bank of America is postponing foreclosure sales in all 50 states. Wells Fargo has decided to continue with its foreclosures, unlike BofA, JPMorgan and Ally Financial. Credit Suisse predicts record low interest rates will boost demand for mortgage-backed securities.

The Norris Group Real Estate News Roundup 8/26/10

The MBA’s second quarter survey shows the delinquency rate for mortgage loans on residential properties dropped to 9.85 percent. Freddie Mac reports that interest rates have dropped AGAIN to 4.36%. According to CoreLogic, 23 percent of residential homes with mortgages were in negative equity at the end of the 2nd quarter. Barclays Capital claims existing home sales decreased 30% last month.

The Norris Group Real Estate News Roundup 8/25/10

The MBA’s weekly survey shows that mortgage loan application volume increased by 4.9%. The Commerce Department reported new homes sales decreased 12.4% in July. According to Zillow, most Western states experienced a decrease in 20-year mortgage rates last week. California’s 30-year rate decreased to 4.30%.

The Norris Group Real Estate News Roundup 8/13/10

Equity from the boom has now disappeared and many homeowners are deciding not to pay what they owe. Builders are shrinking the size of new projects as fewer consumers want McMansions. Moody’s sees increasing weakness in the commercial market and the U.S. government appears not to be sure how to move forward to avoid the much talked about double dip recession.

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