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Stronger Prices Lift U.S. Homebuilders, But Better Job And Income Growth Is Needed For Long-Term Recovery

Around the Web — Wed, 19 Jun 2013 13:48:15 GMT

A limited supply of new and existing homes for sale in many U.S. markets and a shift in product mix to higher-price move-up and luxury homes have caused a jump in homebuilders’ average selling prices (ASP) so far in 2013. In addition, the decline in housing prices from peak levels and the historically low mortgage [...]...(read more)

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What to Expect From Fed Today

Around the Web — Wed, 19 Jun 2013 13:47:14 GMT

The Fed's policy committee wraps up its latest conclave today and Bernanke's challenge in clear: Lay the groundwork for pulling QE3 back without alarming the markets....(read more)

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MLSs See Gains in Efforts to Protect Data

Around the Web — Wed, 19 Jun 2013 13:43:10 GMT

Recent court cases are giving REALTORS® reason to be optimistic in their efforts to curb the unauthorized use of their MLS data. Two weeks ago the Key West Association of REALTORS® scored a major victory when a U.S. district court judge in Florida levied a $2.7 million fine against a businessman named Robert Allen, whose [...]...(read more)

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Lennar Acquires 813 Homebuilding Lots in San Antonio Area - Bloomberg

Around the Web — Wed, 19 Jun 2013 13:43:10 GMT

Lennar Acquires 813 Homebuilding Lots in San Antonio Area Bloomberg Lennar Corp. (LEN), the third-largest U.S. homebuilder by revenue, bought 813 lots in Texas from affiliates of Covington Group Inc., a Dallas-based development firm. The properties are in San Antonio and nearby Cibolo, Covington said in a statement today. and more »...(read more)

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In San Diego, Politics and Real Estate Mix

Around the Web — Wed, 19 Jun 2013 12:35:50 GMT

A San Diego-appointed panel last year picked Cassidy Turley to renegotiate city office leases, but the new mayor in April gave the job to a well-connected local broker, rankling some. The city this week signed a new lease for a lower rate....(read more)

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CoreLogic Releases June MarketPulse Report

Around the Web — Wed, 19 Jun 2013 12:35:50 GMT

MEDIA ADVISORY -Report Examines Potential for Housing Bubbles and Natural Hazard Risk- CoreLogic ® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its June MarketPulse report. In this report, CoreLogic Chief Economist Mark Fleming, Ph.D., discusses potential mortgage debt exposure to natural hazard risk. Deputy Chief Economist Sam Khater contrasts house price movements in the current and historical housing cycles. This month's edition also features commentary by CoreLogic President and CEO Anand Nallathambi who discusses how the continued momentum in home price growth and the inventory growth it spurs are contributing to a more durable housing recovery. Additional key findings in the June MarketPulse report include: The home price...(read more)

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Dallas Home Prices Do Best Since Bubble: Riskless Return - Bloomberg

Around the Web — Wed, 19 Jun 2013 12:33:45 GMT

Dallas Home Prices Do Best Since Bubble: Riskless Return Bloomberg Dallas has been the best-performing of 20 major housing markets in the U.S. since the real estate bubble burst in 2006, as job and population growth pushes up demand. The north Texas metropolitan area is the only one among the cities in the  ......(read more)

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Banks Need to Improve Mortgage Servicing: Report

Around the Web — Wed, 19 Jun 2013 12:29:40 GMT

More than a year after the nation's five largest mortgage servicers signed a $26 billion legal settlement, those same servicers still need to do better, according to a new report....(read more)

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Rising mortgage rates elicit fears they could hurt housing recovery

Around the Web — Wed, 19 Jun 2013 12:00:16 GMT

Mortgage rates have spiked over the past few weeks, rising at the fastest pace since 2010, sparking fears that the housing market could weaken and undermine the country's economic recovery. In the short term, the jump in interest rates is spurring home buyers in the Washington region and other hot markets to action, adding to the already frenzied competition to get a home. But a sustained rise would hurt a fragile housing recovery, which has climbed out of the depths of its crash with the help of record-low rates, economists said. Read full article >>        ...(read more)

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BofA Should Face Foreclose Probe by TARP, Waters Says - Bloomberg

Around the Web — Wed, 19 Jun 2013 12:00:16 GMT

BofA Should Face Foreclose Probe by TARP, Waters Says Bloomberg Bank of America Corp., the second-biggest U.S. lender, should be investigated for its treatment of distressed homeowners, said Representative Maxine Waters, the top Democrat on the House Financial Services Committee. Employees say the lender told them  ......(read more)

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Mortgage applications tumble as rates rise further: MBA

Around the Web — Wed, 19 Jun 2013 11:57:12 GMT

NEW YORK (Reuters) - Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday....(read more)

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US Stocks Seen Higher Ahead of Key Fed Meeting

Around the Web — Wed, 19 Jun 2013 11:53:06 GMT

U.S. stock index futures signaled a higher open on Wednesday, while global markets traded cautiously ahead of the Federal Reserve's all-important policy statement and Chairman Ben Bernanke's press briefing....(read more)

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Why Yellen Should Be Next Fed Chief: Former Fed Official

Around the Web — Wed, 19 Jun 2013 11:53:05 GMT

Vice-chair of the Federal Reserve Janet Yellen is by far the most credible successor to central bank chief Ben Bernanke, former Fed Governor Robert Heller told CNBC on Wednesday....(read more)

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'QE Infinity' Is Now on 6 Month Clock: Economist

Around the Web — Wed, 19 Jun 2013 11:52:02 GMT

The Federal Reserve will probably put off tapering its $85 billion-a-month bond-buying program "for a little bit," but the central bank has to start scaling back next year, Wells Fargo Securities Chief Economist John Silvia tells CNBC....(read more)

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CFPB Lacks Oversight and Accountability

Around the Web — Tue, 18 Jun 2013 21:16:08 GMT

The Oversight and Investigations Subcommittee highlighted the Consumer Financial Protection Bureau's (CFPB) radical structure at a hearing today, and members continued to express concern that the agency operates without basic oversight and accountability. The CFPB, created under the Dodd-Frank Act, is controlled by a single individual who cannot be fired for poor performance and who exercises sole control over the agency, its hiring and its budget.  For Fiscal Year 2013, the CFPB estimated that it would spend $541 million and increase its staff to more than 1,200.  The CFPB is able to spend this money with no oversight from Congress, the President or the Federal Reserve from which it obtains its funding. "In the end, this single director can disregard advice and manage...(read more)

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