January 2018 - MND NewsWire

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Purchase Share, FICOs, ARMs All Increasing; Bright Economy Muted by Housing; Inventory Turns Positive

Published: 10/19/2018

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MND NewsWire features plain and simple interpretations of industry related data and events written in a manner that maintains the interest of random readers while still catering to the perspective of a housing market professional.

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Robots Coming for Your Job? Why Automated Underwriting is Good

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by Jann Swanson on January 31 2018, 12:40 PM

Loan applications are increasingly submitted and approved via a cell phone and Fannie Mae, and Freddie Mac constantly refer in press releases to their respective automated systems. Therefore, it is startling to learn that, on the front lines of lending...
Although Pending Sales Up, NAR Warns of Tax Law Implications

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by Jann Swanson on January 31 2018, 10:39 AM

Pending home sales finished off the year in a more upbeat tune. Although the December gain in sales, reported on Wednesday by the National Association of Realtors® (NAR) was a slim one, it made three consecutive monthly gains for the leading indicator...
Rising Rates Finally Make a Dent in Mortgage Apps

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by Jann Swanson on January 31 2018, 6:10 AM

Mortgage activity suffered its first downturn of 2018 last week, breaking a three-week winning streak. The Mortgage Bankers Association (MBA) reports that applications for both refinancing and purchasing were lower on a seasonally adjusted basis during...
You'll Never Guess Who's Pushing Homeownership Higher

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by Jann Swanson on January 30 2018, 12:45 PM

The national homeownership rate ticked up slightly in the fourth quarter of 2017, but the U.S. Census Bureau said the change, from 63.9 percent in the third quarter to 64.2 percent in the fourth was not statistically different. The rate in the fourth...
Deja Vu: Home Price Gains Being Led by Usual Suspects

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by Jann Swanson on January 30 2018, 9:59 AM

Home price gains picked up the pace again in November according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The index, which covers all nine U.S. census divisions, rose 6.2 percent compared to November 2016 . The annual increase...
Black Knight Home Prices on 67 Month Winning Streak

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by Jann Swanson on January 29 2018, 8:38 AM

Home prices measured by Black Knight's Home Price Index (HPI) achieved their 67 th consecutive year-over year increase in November. The HPI rose 6.44 percent in the 12 months ending in November 2017, only a shade lower than the annual increase of 6.48...
Freddie Mac Takes on More Loans, More Delinquencies in December

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by Jann Swanson on January 26 2018, 10:03 AM

Freddie Mac reported today that its total mortgage portfolio increased at an annualized rate of 9.0 percent in December. The portfolio balance at the end of the period was $2.098 trillion compared to $2.092 trillion at the end of November and $2.011 trillion...
Rough Finish to a Strong Year for New Home Sales

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by Jann Swanson on January 25 2018, 10:38 AM

After three solid months of new home sales, some give-back could only be expected ; exactly what happened in December. The Census Bureau and the Department of Housing and Urban Development report that sales of newly constructed homes fell 9.3 percent...
Best Year For Home Sales Since 2006, Despite Headwinds

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by Jann Swanson on January 24 2018, 11:03 AM

Despite a poor showing in December , existing home sales in 2017 were the best levels in 11 years. The National Association of Realtors® (NAR) said the finished with 5.51 million sales of existing single-family homes, townhomes, condos, and cooperative...
FHFA Home Prices Slow Slightly, Still Up in November

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by Jann Swanson on January 24 2018, 9:42 AM

The Federal Housing Finance Agency said its House Price Index (HPI) racked up a 0.4 percent gain in November and the 0.5 percent appreciation rate reported in October was revised up to 0.6 percent. On a year-over-year basis the HPI was grew 6.5 percent...
Purchase Mortgage Applications Hit 8-Year High

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by Jann Swanson on January 24 2018, 2:53 AM

Mortgage applications continue on the tear they started during the first week of 2018. The Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of loan application volume, increased 4.5 percent on a seasonally adjusted basis during...
Tax Bill Will Have Winners, Losers Fannie Says

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by Jann Swanson on January 23 2018, 12:38 PM

Fannie Mae's Economic and Strategic Research Group (ESR) focused on the new Tax Cuts and Jobs Act, passed late last year, in its January Economic Developments report. Like most other economists, Fannie Mae's are upgrading their growth forecasts based...
Hurricane Stricken States Now Seriously Delinquent

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by Jann Swanson on January 23 2018, 10:04 AM

Black Knight notes a significant uptick in seriously delinquent mortgages in December. The number of loans that were 90 or more days overdue increased by 60,000 during the month to 726,000. This is 44,000 more delinquencies than were recorded in December...
HUD Provides Availability Info for Shutdown

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by Jann Swanson on January 22 2018, 1:07 PM

With a stop-gap funding bill likely to be approved tonight, the following will not be germane for long, but it could serve as a template for the next potential shutdown. FHA's Office of Single Family Housing has provided a lengthy list of the availability...
Will Higher Rates and Tax Changes Derail Housing Market?

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by Jann Swanson on January 22 2018, 11:51 AM

Last year's Federal Reserve actions, raising the target interest rate three times, led to about a 0.75 percentage point increase in the 1-year Constant Maturity Treasury (CMT) note, while the 10-year CMT note barely moved. Freddie Mac's Economic and Housing...

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