• Ocwen2.71+0.04 +1.50%
  • Zillow42.87-0.36 -0.83%
  • Trulia47+0 +0%
  • NationStar17.37-0.19 -1.08%
  • CoreLogic41.81+0.10 +0.24%
  • RE/MAX55.25-0.40 -0.72%
  • Fannie Mae2.81+0.08 +2.93%
  • Freddie Mac2.675+0.055 +2.099%
  • Wells Fargo53.02-0.72 -1.34%
  • CitiMortgage61.07+0.37 +0.61%
  • Bank of America24.00-0.07 -0.29%
  • Lennar50.39-0.60 -1.18%
  • Fidelity National Financial40.39-0.08 -0.20%
  • D.R. Horton33.07-0.18 -0.54%
  • PulteGroup22.75-0.27 -1.17%
  • First American41.66-0.40 -0.95%
  • BKFS39.10+0.20 +0.51%
  • AUDUSD=X0.7384+0.0006 +0.0745%
  • USDJPY=X113.2800-0.5410 -0.4753%
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Daily Dose

Prices Steady Through Winter’s End; Midwest Growth ‘Nonexistent’

Prices Steady Through Winter’s End; Midwest Growth ‘Nonexistent’

Clear Capital released its Home Data Index Market Report with data through March 2014, noting mostly flatness as the winter came to an end. "Our data through the end of March reveals prices remained steady through the final weeks of winter, a sigh of relief to all market participants," said Dr. Alex Villacorta, VP of research and analytics at Clear Capital.

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New Business Keeps Shrinking at Freddie Mac

New Business Keeps Shrinking at Freddie Mac

Freddie Mac’s book of business declined during both of the first two months of this year with an annualized growth rate of -2.2 percent during the month of February, according to the GSE’s monthly volume summary. Year-to-date, the annualized growth rate for Freddie Mac’s portfolio is -2.0 percent, on par with the growth rate of -2.1 percent reported for the year in 2013.

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Agents Predict Competitive Spring Season for Buyers

Agents Predict Competitive Spring Season for Buyers

A survey released by Redfin showed that nearly half the company's Northeast agents and about 40 percent of its Midwest agents believe competition among buyers will be far more fierce this spring. The bedrock of these beliefs lies in a combination of low inventory and an end to the winter hibernation among potential buyers in areas hit hard by the 2013-14 winter.

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Texas, Florida Metros Top List of Prime First-Time Buyer Markets

Texas, Florida Metros Top List of Prime First-Time Buyer Markets

Realtor.com released Thursday its list of the top markets for first-time homebuyers for the spring and summer seasons. To compile the list, analysts compared cities across five categories that have the biggest impact on buyers new to the market: list price affordability, time on market, employment rates, supply of inventory (and thus chances of competition), and—as the mantra goes—location, location, location.

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Unsustainable Home Price Growth Leads to Meager Home Sales in Some Counties

Unsustainable Home Price Growth Leads to Meager Home Sales in Some Counties

Home prices increased over the month and year in February in the majority of the 42 counties reviewed in DataQuick’s latest Property Intelligence Report. Home sales increased in the majority of the large counties over the month but not over the year, according to DataQuick. “While we saw a slight uptick from the extremely low sales levels reported in January, total sales remain far below historical levels,” said Gordon Crawford, VP of analytics at DataQuick.

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Freddie Mac Debuts New Report; Points to Market Instability

Freddie Mac Debuts New Report; Points to Market Instability

Freddie Mac released Wednesday its first Multi-Indicator Market Index, a gauge of market stability based on current levels of purchase applications, payment-to-income ratios, on-time mortgage payments, and employment. Based on a neutral, stable "0" point, the market in January sat at a score of -3.08, according to the index. However, that's still an improvement compared to the prior month and year.

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Closing Costs Sink Profits at Independent Mortgage Banks

Closing Costs Sink Profits at Independent Mortgage Banks

According to the Mortgage Bankers Association’s (MBA) Performance Report for Q4, independent mortgage banks and mortgage subsidiaries of chartered banks took in an average profit of $150 on each loan they originated, a record low. That number was down from $743 per loan in Q3. “Fourth-quarter production profits were at their lowest levels since [the] inception of the Performance Report in 2008,” said Marina Walsh, MBA’s VP of industry analysis.

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Fourth-Quarter GDP Growth Bumped Up to 2.6%

Fourth-Quarter GDP Growth Bumped Up to 2.6%

According to the Bureau of Economic Analysis (BEA), the increase in real GDP last quarter mostly reflected positive contributions from consumer spending, exports, and nonresidential fixed investment. Those gains were partly offset by drags in federal government spending and expenditures on housing. The latest growth estimate was an improvement over BEA’s second report, which suggested 2.4 percent annualized growth.

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Yellen Projections Drive Up Interest Rates

Yellen Projections Drive Up Interest Rates

In its weekly Primary Mortgage Market Survey, Freddie Mac reported an increase of 8 basis points in the 30-year fixed average rate, bringing up to 4.40 percent for the week ending March 27. Frank Nothaft, chief economist for Freddie Mac, explained the increase: “Mortgage rates rose following the uptick on the 10-year Treasury note after comments by the Federal Reserve Board Chair Janet Yellen indicated a possible increase in interest rates as soon as early 2015.”

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Pending Home Sales Down to Lowest Level Since 2011

Pending Home Sales Down to Lowest Level Since 2011

The National Association of Realtors (NAR) reported yet another monthly decline in its measure of pending home sales, indicating continued softness in future sales figures. According to the latest monthly report, the group’s Pending Home Sales Index (PHSI)—a metric based on contract signings—dipped 0.8 percent in February to a reading of 93.9, its lowest point since October 2011. It was the eighth decline in as many months.

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