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FHFA Releases Q1 Price Index

The FHFA’s Q1 House Price Index Report was released Wednesday showing house prices up for the 23rd time in a row. Additionally, they were also up for the 21st time in a row year-over-year. Though this seems positive, Q1’s rate of growth nationally was minimal compared to the quarterly growth rates in years past.

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First-time Buyers Account for 60 Percent of Purchases

According to a new report, first-time homebuyers now make up 60 percent of all home purchases. On GSE loans, first-time buyers comprise 47 percent of loans, while on FHA loans, they account for 82 percent. The uptick is likely due to an improved economy, lower unemployment, rising income, and more new home construction

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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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