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Posts Tagged ‘ down ’

Fannie and Freddie: REO inventory declined in Q4, Down 34% Year-over-year

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Fannie and Freddie: REO inventory declined in Q4, Down 34% Year-over-year

Fannie and Freddie reported results this week. Here is some information on Real Estate Owned (REOs). From Fannie Mae: Fannie Mae Reports Net Income of .0 Billion and Comprehensive Income of .6 Billion for 2015 Fannie Mae reported annual net income of .0 billion and annual comprehensive income of .6 billion in 2015. For...
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“Mortgage Rates Down to New 8-Month Lows”

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“Mortgage Rates Down to New 8-Month Lows”

Wednesday:• 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • 8:15 AM, the ADP Employment Report for January. This report is for private payrolls only (no government). The consensus is for 190,000 payroll jobs added in January, down from 257,000 in December. • 10:00...
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Phoenix Real Estate in December: Sales up 4%, Inventory down 8%

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Phoenix Real Estate in December: Sales up 4%, Inventory down 8%

Wednesday:• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts. • At 2:00 PM, The Monthly Treasury Budget Statement for...
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Sacramento Housing in August: Sales up 16%, Inventory down 15% YoY

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Sacramento Housing in August: Sales up 16%, Inventory down 15% YoY

During the recession, I started following the Sacramento market to look for changes in the mix of houses sold (equity, REOs, and short sales). For a few years, not much changed. But in 2012 and 2013, we saw some significant changes with a dramatic shift from distressed sales to more normal equity sales. This...
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Update: Framing Lumber Prices down Year-over-year

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Update: Framing Lumber Prices down Year-over-year

Here is another graph on framing lumber prices. Early in 2013 lumber prices came close to the housing bubble highs. The price increases in early 2013 were due to a surge in demand (more housing starts) and supply constraints (framing lumber suppliers were working to bring more capacity online). Prices didn’t increase as much...
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DataQuick: Southern California January Home Sales down 6% Year-over-year

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DataQuick: Southern California January Home Sales down 6% Year-over-year

From DataQuick: Southern California Home Sales Decline; Median Sale Price Still Up Year Over Year Home sales in January fell sharply from December, as they normally do, and dipped modestly from a year earlier, marking the 14th month in the last 16 to post a year-over-year sales decline. … A total of 13,560 new...
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Phoenix Real Estate in October: Sales up 2%, Cash Sales down Sharply, Inventory up only 6%

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Phoenix Real Estate in October: Sales up 2%, Cash Sales down Sharply, Inventory up only 6%

This is a key distressed market to follow since Phoenix saw a large bubble / bust followed by strong investor buying.  These key markets hopefully show us changes in trends for sales and inventory. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in October were up 2.5% year-over-year.  Note:...
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Mortgage News Daily: Mortgage Rates at 4.22%, Down from 4.45% Last September

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Mortgage News Daily: Mortgage Rates at 4.22%, Down from 4.45% Last September

I use the weekly Freddie Mac Primary Mortgage Market Survey® (PMMS®) to track mortgage rates. The PMMS series started in 1971, so there is a fairly long historical series. For daily rates, the Mortgage News Daily has a series that tracks the PMMS very well, and is usually updated daily around 3 PM ET....
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The Slow Down in the House Price Indexes

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The Slow Down in the House Price Indexes

We are finally seeing the slowdown in the year-over-year (YoY) housing price indexes that many of us have been expecting based on supply and demand.  With inventory increasing steadily – and by one measure now above 2012 levels for the same week – the price slowdown will probably continue (and we may see price...
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Sacramento Housing in May: Total Sales down 11% Year-over-year, Equity Sales up 8%, Active Inventory increases 84%

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Sacramento Housing in May: Total Sales down 11% Year-over-year, Equity Sales up 8%, Active Inventory increases 84%

Several years ago I started following the Sacramento market to look for changes in the mix of houses sold (equity, REOs, and short sales).  For a long time, not much changed. But over the last 2+ years we’ve seen some significant changes with a dramatic shift from foreclosures (REO: lender Real Estate Owned) to short sales, and...
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