Investors
By Andy Beth Miller | 05/24/2013
As sellers hold their grip on the market, buyers are starting to understand what it's going to take to stay in the game, according to responses in Redfin's second-quarter Real-Time Home-Buyer Report. After speaking at length with the buyers, it was determined that although their understandable frustration concerning the low amount of inventory continues to rise, there is an equal elevation in their individuals awareness and recognition of the seller's market, as well as an overall willingness to actually pay more out of pocket for purchasing real estate.
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By Mark Lieberman, Five Star Institute Economist | 05/24/2013
Has housing turned the corner? Look again. The last time both prices and sales of new homes increased in the same month was last September. In October, both sales and prices dropped, but in November, January, and March, sales increased when prices dropped and in December and February when prices rose, sales fell. What of course is missing from the two data sets is any indication of demand, though there are other sources which suggest skepticism about a near-term housing rebound might not be misplaced.
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By Tory Barringer | 05/24/2013
Freddie Mac's total mortgage portfolio expanded in April, but growth slowed as purchase and issuance activity declined from March, the GSE reported. According to Freddie Mac's monthly volume summary, its total portfolio grew at an annualized rate of 0.6 percent last month, a setback compared to March's 4.0 percent growth rate but still above January and February's contracting figures. As of the end of the month, the portfolio's ending balance was about $1.95 trillion.
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By Tory Barringer | 05/24/2013
Carrington Real Estate Services, LLC announced the launch of MyFUELCenter, its mobile online resource for agents on the go.
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By Tory Barringer | 05/24/2013
GMH Mortgage Services LLC, a nationally-recognized mortgage banker headquartered in Pennsylvania, added Scott Medrow to its team as SVP of its National Mortgage Center and specialty products division.
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By Tory Barringer | 05/24/2013
Residential Capital (ResCap), Ally Financial's former mortgage subsidiary, announced Thursday it had filed a motion with the U.S. Bankruptcy Court for approval of the previously announced agreement with Ally and ResCap's major creditors. Under the plan support agreement announced mid-May, Ally will contribute $2.1 billion to the ResCap estate to settle any and all claims between ResCap and Ally and potential claims held by third parties in relation to ResCap.
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By Andy Beth Miller | 05/23/2013
In a testimony Wednesday, Federal Reserve Chairman Ben Bernanke held his ground on the Fed's open-ended purchases program. While conceding that, "a long period of low interest rates has costs and risks," Bernanke countered with the conclusion that, when viewed with a long-term perspective, "a premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation (ultimately) to fall further."
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By Esther Cho | 05/23/2013
Compared to the first quarter of 2012, home prices in Q1 2013 were up by 6.7 percent, according to the Federal Housing Finance Agency's (FHFA) seasonally adjusted, purchase only House Price Index (HPI). From February to March, the index increased by 1.3 percent. While the HPI is higher by 6.7 percent compared to last year, prices of other goods and services rose by just 1.4 percent during the same time period. When adjusted for inflation, this means prices were up by about 5.2 percent from last year, according to the FHFA.
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By Tory Barringer | 05/23/2013
The Illinois Association of Realtors (IAR) reported Wednesday that sales were up 25.3 percent year-over-year throughout the state. According to the association, statewide home sales (including single-family homes and condos) totaled 12,621 in April, the best performance for that month since 2007.
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By Tory Barringer | 05/23/2013
The Mortgage Bankers Association (MBA) announced that HUD has approved the association's underwriter training program for the Multifamily Accelerated Processing (MAP) program.
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