Aug 21, 2019

Why Are Homeowners With A Mortage Low and Mortgage Debt High?

Today’s News Synopsis: Mortgage debt is at a historical high, while the number of homeowners with a mortgage is at its lowest in 14 years.  The National Association of Realtors reported existing-home sales increased by 2.5% in July.  Mortgage applications, meanwhile, decreased 0.9% from last week. In The News: Realtor.com –

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Aug 14, 2019

Condo Owners – Your Financing Just Got Easier

Today’s News Synopsis: The FHFA just announced changes to its condominium rules to make it easier for owners to finance, news they have been waiting to hear for a long time.  Mortgage debt is at a record-high, even higher than its peak back in 2008.  The Mortgage Bankers Association reported

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Dec 05, 2016

Ben Carson Selected As New HUD Leader, Although Many in Housing Have Different Opinions On This

Today’s News Synopsis: Tump has officially selected Ben Carson as the new leader of HUD, although many in the housing industry are divided on his choice.  The Federal Reserve Bank of New York reported an increase of $90 billion in mortgage debt in the third quarter, putting it at $8.35

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Jul 22, 2016

Ratio for Mortgage Debt-to-GDP May Start Rising Again

Sources: Builder Confidence Holds Firm in July Foreclosure filings down 20% in first half of 2016 Housing Starts Rise 4.8 Percent in June Despite Rise in Default Rates, Credit Outlook Still Positive Remodeling Market Index Holds Steady in Second Quarter Castro Investigated for Hatch Act Violation Survey: Voters Want More,

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Jun 09, 2014

Housing Market Held Back By Buyer Concerns

Today’s News Synopsis: The recent consumer survey by the Federal Reserve Bank of New York showed consumers in every region accept the South expect home prices to increase.  Outstanding mortgage debt for commercial and multifamily properties increased by $11.1 billion in the first quarter, a 0.4% increased from the fourth

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May 19, 2014

Texas Shows the Best Numbers for Employment Growth

  Today’s News Synopsis: CoreLogic reported an increase in REO properties, which now stand at 430,000.  Right now the state with the most positive numbers, particularly in the job market, is Texas with their addition of 64,100 new jobs in April.  Due to more residents leaving, smaller banks in rural

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Aug 14, 2013

The Norris Group Real Estate News Roundup 8/14/13

Today’s News Synopsis: According to the Mortgage Bankers Association, mortgage applications declined 4.7% from last week.  Foreclosure starts also decreased with the increase in mortgage modifications.  Two former bankers of JP Morgan Chase have been charged in what is known as the “London Whale” trade for losses brought about by

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Apr 04, 2013

The Norris Group Real Estate News Roundup 4/4/13

Today’s News Synopsis: Mortgage rates decreased this past week with 30-year rates at 3.54% and 15-year rates at 2.74%.  The NAHB reported the number of improving housing markets remained the same this month after having shown improvement for seven months straight.  More consumers are having a positive outlook on the

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Mar 11, 2013

The Norris Group Real Estate News Roundup 3/11/13

Today’s News Synopsis: The tally for the number of banks closed in 2013 is now at 4 with the recent closure of the Frontier Bank in Georgia.  The foreign real estate company Overseas Union Enterprise will be purchasing the U.S. Bank Tower in Los Angeles for $367.5 million.  The amount

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Jun 14, 2012

The Norris Group Real Estate News Roundup 6/14/12

Today’s News Synopsis: Unemployment insurance claims increased to 386,000 for the week ended June 9.  Shadow inventory is at its lowest level since 2008 according to CoreLogic.  New York Attorney General Eric Schneiderman introduced a bill that would punish foreclosure fraud more harshly.  Foreclosures decreased 4% from last month, although

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