The Wall Street Journal Former Fannie Mae CEO, speaking on a panel at a conference, says that an influx of investors into the housing market – rather than government policy – was the main cause of the housing market’s collapse. Read the full story http://blogs.wsj.com/developments/2012/04/20/raines-dont-blame-homeowners-government-for-housing-bust/ [Read More]
Freddie Mac reported this week that 79 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table in the first quarter of 2012. Of these borrowers, 58 percent maintained about the same loan amount, and 21 ... [Read More]
Freddie Mac reported this week that 79 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table in the first quarter of 2012.
Of these borrowers, 58 percent maintained about the same loan amount, and 21 percent of refinancing homeowners reduced their principal balance; the share of borrowers that kept about the same loan amount was the highest in the 26-year history of the analysis.
“Cash-out” borrowers, those who increased their loan balance by at least five percent, represented 21 percent of all refinance loans; the weighted average cash-out share during the 1985 to 2008 period was 50 percent.
The median interest rate reduction for a 30-year fixed-rate mortgage was about 1.5 percentage points, or a savings of about 27 percent in interest rate, the largest percent reduction recorded in the 27 years of analysis. Over the first year of the refinance loan life, the median borrower will save about $2,900 in interest payments on a $200,000 loan.
http://www2.realtoractioncenter.com/site/R?i=1w8sWhgcjEnVkWSmcc_UQQ
Calif. median home price: March 2012: $291,080 (Source: C.A.R.) Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.) Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.) Calif. Pending Home Sales Index: March 2012: 143.7, an increase from the revised 126.5 recorded in February. Calif. Traditional ... [Read More]
Calif. median home price: March 2012: $291,080 (Source: C.A.R.)
Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.)
Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.)
Calif. Pending Home Sales Index: March 2012: 143.7, an increase from the revised 126.5 recorded in February.
Calif. Traditional Housing Affordability Index: Fourth quarter 2011: 55 percent (Source: C.A.R.)
Mortgage rates: Week ending 5/3/2012 30-yr. fixed: 3.84% fees/points: 0.8% 15-yr. fixed: 3.07 fees/points: 0.7% 1-yr. adjustable: 2.70% Fees/points: 0.6% (Source: Freddie Mac)
The Wall Street Journal Former Fannie Mae CEO, speaking on a panel at a conference, says that an influx of investors into the housing market – rather than government policy – was the main cause of the housing market’s collapse. Read the full story http://blogs.wsj.com/developments/2012/04/20/raines-dont-blame-homeowners-government-for-housing-bust/ [Read More]
Calif. median home price: March 2012: $291,080 (Source: C.A.R.) Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.) Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.) Calif. Pending Home Sales Index: March 2012: 143.7, an increase from the revised 126.5 recorded in February. Calif. Traditional ... [Read More]
Calif. median home price: March 2012: $291,080 (Source: C.A.R.)
Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.)
Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source: C.A.R.)
Calif. Pending Home Sales Index: March 2012: 143.7, an increase from the revised 126.5 recorded in February.
Calif. Traditional Housing Affordability Index: Fourth quarter 2011: 55 percent (Source: C.A.R.)
Mortgage rates: Week ending 4/26/2012 30-yr. fixed: 3.88% fees/points: 0.7% 15-yr. fixed: 3.12 fees/points: 067% 1-yr. adjustable: 2.74% Fees/points: 0.6% (Source: Freddie Mac)
CNNMoney The Federal Housing Finance Agency laid out new rules aimed at speeding up the short sale process, a move that could keep many homes from falling into foreclosure. Read the full story http://money.cnn.com/2012/04/19/real_estate/short-sales/index.htm?iid=HP_LN [Read More]
U.S. house prices rose 0.3 percent on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. While prices in January were unchanged according to initial estimates reported in the last HPI release, the January result has been revised downward to reflect a 0.5 percent decrease. ... [Read More]
U.S. house prices rose 0.3 percent on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. While prices in January were unchanged according to initial estimates reported in the last HPI release, the January result has been revised downward to reflect a 0.5 percent decrease. For the 12 months ending in February, U.S. prices rose 0.4 percent, the first annual increase since the July 2006 – July 2007 interval. The U.S. index remains 19.4 percent below its April 2007 peak and is roughly the same as the January 2004 index level.
The FHFA monthly index is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac.
http://www2.realtoractioncenter.com/site/R?i=9WfS8dIAraykNOqpHXpOMQ
San Diego Union-Tribune The regulator of Fannie Mae and Freddie Mac is getting heat from California congressional memebers over a pilot plan to sell 600-plus foreclosed homes in Riverside and Los angeles counties to investors in bulk on condition they will convert them to rentals. Read the full story http://www.utsandiego.com/news/2012/apr/10/more-push-back-demarco/ [Read More]
San Diego Union-Tribune
The regulator of Fannie Mae and Freddie Mac is getting heat from California congressional memebers over a pilot plan to sell 600-plus foreclosed homes in Riverside and Los angeles counties to investors in bulk on condition they will convert them to rentals.
Read the full story
http://www.utsandiego.com/news/2012/apr/10/more-push-back-demarco/
CNNMoney The Federal Housing Finance Agency will decide this month whether Fannie Mae and Freddie Mac should allow write downs on the balances of borrowers who owe more than their homes are worth. Read the full story http://money.cnn.com/2012/04/09/news/economy/mortgages-principal-reduction/index.htm?iid=HP_LN [Read More]
