Fears - Drops - 1st purchases

Mortgage applications decrease
MBA - Mortgage applications decreased 4.1 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 21, 2016. The prior week's results included an adjustment for the Columbus Day holiday.
Fewer new home choices for first-timers
REALTOR®Mag - First-time buyers are struggling to find affordable options in the new-home market. Sales of low-priced new homes dropped in September, with just 2 percent of all new home sales at $150,000, the U.S. Commerce Department reports. That's down 5 percent from last year.
Housing bubble fears have returned
CNN Money – Home prices kept rising in August and September in most major American cities.  That’s great news for people looking to sell.  However, some cracks appear to be forming in the housing market again.


Federal and industry news

Fed officials push for rate hike ‘relatively soon’
USA Today - Federal Reserve officials generally agreed the case for raising interest rates “had strengthened" in recent months as the labor market remains robust, with some calling for a hike "relatively soon," according to the minutes of the Fed’s Sept. 20-21 meeting releasedWednesday.

Industry News
Mortgage rates rise in anticipation of Federal Reserve rate increase later this year
Washington Post - Mortgage rates climbed higher this week following long-term U.S. Treasury yields. The movement of bonds usually is one of the best indicators of whether mortgage rates will rise or fall. When yields go up, home loan rates...
Mortgage applications decreased
MBA – Mortgage applications decreased 6.0 percent from one week earlier, according to data from the MBA Weekly Mortgage Applications Survey for the week ending October 7, 2016.
Mortgage giant: stop housing’s Debbie downers
REALTOR®Mag - The home ownership rate peaked at 69.2 percent in 2004. But for the past 10 years, the rate continues to fall and stands at less than 63 percent today, the lowest in half a century. Some industry analysts are predicting further declines too, with a home ownership rate that may drop below 60 percent.


September comparison

Here we have the data for september 2015 and september 2016.

Good increase all around!




Real Estate May News

Mortgage applications slightly increase
MBA – Mortgage applications increased 0.4 percent from one week earlier, according to data from the MBA Weekly Applications Survey for the week ending May 6, 2016.
Mortgage rates haven’t been this low in years
Washington Post - Mortgage rates plummeted to their lowest levels in three years this week.  Weak first-quarter economic growth, persistent global economic worries and last week’s anemic jobs report all contributed to pushing down bond yields.
Real estate agents, appraisers voice concerns over FHA appraisal policies
NAR - “FHA appraisal guidelines are stricter; the standards set the benchmark for appraisals in the industry,” said Gary Eisenbraun, appraisal/technical support branch chief of the Federal Housing Administration. “The guidelines are strict though to protect consumers and safeguard FHA’s mortgage insurance fund and taxpayer dollars.”
Fannie Mae announces updates to servicing guide
DSNews.com – Fannie Mae has announced updates to its Servicing Guide involving new proration requirements to allowable attorney foreclosure fees and determining when foreclosure proceeding should be suspended, among other changes.
Sellers happy, but home buyers are frustrated
REALTOR Mag - The disconnect in the market is likely partially due to the limited number of homes for sale in many markets, allowing sellers to face less competition and ask for higher home prices. On the other hand, home buyers are having fewer choices and stuck paying higher prices, sometimes in multiple-bid situations.


January 2016 Stats are in!

Foreclosure activity was way down across the board in 2015, with a noticeable decline in the foreclosure inventory down to its pre-recession level, meaning the backlog of foreclosures continues to clear out at a substantial rate.
The 20 hottest U.S. real estate in January 2016

NAR - After a December that was unseasonably balmy for a large swath of the East Coast, January saw a return to winter norms: frigid temperatures and mountains of snow (even in the drought-parched West, thanks to El Niño). Real estate markets around the country also followed the regular January pattern...
CFPB’s complaint volume is swelling

DSNews.com - As of January 2016, the number of consumer complaints the Bureau has handled since opening its doors rose to 790,000, according to the 7th volume of the CFPB’s Consumer Complaint Snapshot for December 2015 released on Thursday. Approximately 230,000 of those complaints were received in December 2015.

Don’t make this mortgage mistake in 2016
USA Today - There are plenty of good reasons to buy a home in 2016. Mortgage rates are still historically low; rent is increasing faster than home prices, and buying a home can allow you to start building equity instead of just giving your hard-earned money to a landlord.