Here is another update using inventory numbers from HousingTracker / DeptofNumbers to track changes in listed inventory. Tom Lawler mentioned this last year. According to the deptofnumbers.com for (54 metro areas), inventory is off 22.8% compared to the same week last year. Unfortunately the deptofnumbers only started tracking inventory in April 2006. This graph...
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CR Note: There are only a few areas where the MLS breaks down monthly sales by foreclosure, short sales and conventional (non-distressed) sale. I’ve been tracking the Sacramento market to watch for changes in the mix over time. (here was my post this morning: Distressed House Sales using Sacramento Data) Economist Tom Lawler sent...
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Mortgage originations by the nation's largest four banks fell 20.4% in 2011 to a combined 7 billion from 2 billion in 2010, according to HousingWire analysis of the company's financial statements. Excluding Bank of America (BAC: 6.96 +2.35%), overall mortgage production among the big banks fell 6.3% in 2011. Citigroup's (C: 29.33 +1.03%) home...
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Mortgage rates declined this past week, with adjustable-rate mortgages hitting new lows, according to Freddie Mac's latest Primary Mortgage Market Survey. Adjustable-rate mortgages hit new lows, with the 5-year Treasury indexed ARM averaging 2.91% this past week, down from 2.97% a week earlier. Last year, the same rate hit 3.45%. The 1-year, Treasury-indexed ARM...
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The U.S. mortgage market does not need Fannie Mae, Freddie Mac, nor a federal government guarantee on mortgage-backed securities, according to one industry expert set to testify before a House subcommittee Wednesday. Anthony Sanders is professor of real estate finance at George Mason University just outside the nation's capital in Northern Virginia. He is...
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Lenders have begun pushing lawmakers for a down payment of less than 10% on mortgages it would not have to retain the risk on after securitization, according to Washington research group MF Global. Under Dodd-Frank, federal regulators are charged with setting a qualified residential mortgage, or QRM, standard. Lenders would have to retain 5%...
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Home prices declined during the third quarter after rising slightly the previous quarter, which was the first quarterly increase in three years. The Federal Housing Finance Agency said its third quarter, purchase-only home price index — calculated using information from mortgages acquired by Fannie Mae and Freddie Mac — is 1.6% lower than the...
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Las Vegas home sales fell 15% in September from a year ago but held flatter than normal on a monthly basis, according San Diego-based real estate data provider MDA DataQuick. There were 4,276 new and resold home sales in Las Vegas for September, down 0.2% from August. Monthly sales did fall nearly as far...
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There were 34,239 new and existing homes and condos sold in California in August, down 14% from last year, according to MDA DataQuick, a San Diego-based real estate data provider. Home sales were 2.7% from July as well. The median price paid for a California home in August reached 0,000, up 4.4% from last...
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The 30-year, fixed-mortgage rate increased last week to 4.32% from a near-record low of 4.27% the week prior, according to the Zillow Mortgage Marketplace weekly update. Weekly rates were made available the same day the co-founder and chief executive officer, Rich Barton, announced he was stepping down from his position. He will still remain...
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