The Norris Group Real Estate News Roundup 12/07/10

UCLA economists expect unemployment to remain above 10% until the end of 2012. TransUnion predicts the national mortgage delinquency rate could fall below 5% in 2011. A survey from RealtyTrac shows 60% of Americans believe housing will not recover for another 2 years. According to HOPE NOW, 1.54 million permanent mortgage modifications were completed in the first 3 quarters of this year.

The Norris Group Real Estate News Roundup 11/1/10

Credit Suisse estimates Fannie Mae and Freddie Mac will have cumulative losses of $321 billion. Private mortgage servicers modified 119,585 loans in September, over 4 times as many modifications performed through HAMP. Statistics from the Federal Reserve show home equity accounted for 16.2% of net worth in the 2nd quarter.

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 8/20/10

Aaron Norris of The Norris Group covers this week’s biggest real estate headlines including P.A.C.E programs ending, Redfin’s study of listing homes and sales statistics, loan origination and closing costs on the rise, Transunion’s report talking about delinquencies, DQ News reporting sales and process decline in July, California’s first time homebuyer program ending, and Republican districts have a lower foreclosure rate.

The Norris Group Real Estate News Roundup 8/17/10

Statistics from MDA DataQuick show 18,946 new and resale homes were sold in Southern California in July. Frank Nothaft of Freddie Mac announced that refinancing activity has accounted for over 80% of conventional loan activity. National housing starts increased by 7.1 percent last month, according to the NAHB. The MBA expressed concerns that recent policy changes restricting seller concessions went too far and may damage the industry.

The Norris Group Real Estate News Roundup 2/16/10

According to MDA Dataquick, the median home price in Southern California decreased by 6 percent from December. CBIA reports that home sales in new communities decreased by 15 percent from last month. John Burns estimates that 5 million houses and condominiums with delinquent mortgages will end up in foreclosure over the next few years. TransUnion reports that mortages over 60 days delinquent increased to6.89% in quarter four of 2009.

The Norris Group Real Estate News Roundup 12/08/09

Chase Home Finance reports that 29 percent of its HAMP trial plans failed to become permanent. Research from Altos Research shows that home prices decreased in 24 of the 25 markets that the company observes. A credit analysis of 27 million consumers lead TransUnion to estimate that delinquencies of 60 days or more will drop 3 percent by the end of 2010.