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  • Ocwen2.66+0.04 +1.53%
  • Zillow43.34+0.11 +0.25%
  • Trulia47+0 +0%
  • NationStar17.00-0.07 -0.41%
  • CoreLogic42.64-1.08 -2.47%
  • RE/MAX55.20+0.90 +1.66%
  • Fannie Mae2.60+0.00 +0.00%
  • Freddie Mac2.50+0.02 +0.81%
  • Wells Fargo52.41-0.37 -0.70%
  • CitiMortgage62.07+0.12 +0.19%
  • Bank of America23.24-0.01 -0.04%
  • Fidelity National Financial42.42+0.57 +1.36%
  • First American43.10-0.17 -0.39%
  • Black Knight Financial Services39.45-0.30 -0.75%
  • AUDUSD=X0.7445-0.0010 -0.1328%
  • USDJPY=X111.3100-0.4920 -0.4401%
Home | News | Market Studies (page 2)

Foreclosures Hit 10-Year Low, Despite April Uptick

The total national loan delinquency rate (loans 30 or more days past due, but not in foreclosure), spiked 13 percent from in April from March putting a little over 2 million properties past due. However, according to experts, there is no need for alarm. The rise is primarily due to the calendar with April ending on a Sunday.

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Homebuilders Report Loosening Credit Standards

Builders and developers have reported that credit conditions for acquisition, development, and single-family construction (AD&C) have been easing in the past few months. Eased lending standards are linked with growth in the volume of residential construction loans held at banks, and by extent, the growth in residential construction as a whole. Sales of brand-new homes are expected to jump 10.7 percent this year as the historically low inventory has been pushing for increased construction.

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Who’s to Blame for the Housing Shortage?

The most pressing problem facing the housing industry today is the tight inventory and millennials may be partly to blame. As many young potential buyers move into cities and away from the suburbs, housing construction has been notoriously weak. Cities like New York, San Francisco, Boston, and Los Angeles have seen their suburban areas shrink.

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The Week Ahead: Prices Still Rising, Inventory Still Dropping

On Wednesday, at 9 a.m. EST, the Federal Housing Finance Agency (FHFA) will release its House Price Index (HPI) for March. The Index covers single-family housing, using data provided by Fannie Mae and Freddie Mac. Previously, the FHFA reported in its February HPI that home prices rose 0.8 percent month-over-month. In the report, January’s former unchanged index was revised to a 0.2 percent increase.

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High Down Payments Alter Young Homebuyer Priorities

Many young homebuyers are more focused on personal achievements, such as dream jobs and travelling, than “traditional,” long term life milestones, such as marriage and parenthood. Shifting priorities along with high down payments and the amount of time required to save for these payments are among the reasons why millennials aren't quite settling yet.

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Immigration’s Affect on the Housing Market

Immigration has a positive effect on the housing market according to speakers from a real estate conference reported on Friday. Sales activity and price will strengthen as the market becomes more saturated. Forecasts show that high immigrant sales activities will stem from five states.

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Utilizing Tech Effectively

Although the industry has been slow to adopt, about three in five mortgage lenders agree that their firm is making the best use of data for their business. However, most lenders call themselves “technology followers,” not early adopters, and less than half stated that the pace of technological innovation in the industry has been too slow. Mortgage firms are starting to adopt new technologies like Application Programming Interfaces (API) in order to reduce errors and costs and speed up transactions.

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New York: A Property Tax Epicenter

When it comes to prices, nothing tops New York. 83 of the 100 buildings with the highest property taxes are located in New York City, according to a recent study. Topping the list is the the General Motors Building, which paid a total of $71,681,674 in taxes in 2016.

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Homes are Shrinking Again

New single family homes have been shrinking, according to the National Association of Homebuilders (NAHB). According to the NAHB data, home sizes reached a plateau in 2015 and 2016 after experiencing a steady rise post-recession, but have started to drop off since. The post-recession increase in single-family home size is consistent with the historical pattern coming out of recessions.

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Examining Credit State By State

A recent study by LendEDU examines how credit has shifted by state. Experian’s data puts Minnesota at the top with an average credit score of 718. The top three metros witht eh highest credit scores were all in Minnesota: Mankato, Rochester, and Minneapolis. Nationally, the VantageScore average grew from 669 to 673 in 2016.

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