California Home Prices Benefit from Short Inventory, Sales Suffer

California house prices have now risen on an annual basis for a full year according to the California Association of Realtors® ( C.A.R. ). The median price of an existing single family home sold for $333,800 in February, down 1 percent from the January median of $337,360 but an increase of 24.2 percent from February 2012. In addition to marking a full year of annual price increases, February was the eighth consecutive month with annual increases in double digits. Sales of existing single-family...

Mortgage Rates Continue Leveling-Off, Improving Slightly

Mortgage rates improved modestly , capping a week that's seen rates either move sideways or slightly lower every day. Today's stability and ultimately, improvements came as the result of uneventful overnight trading and a small surge in "asset allocation" trading out of stocks and into bond markets after stocks opened. General bond market strength benefits MBS, the securities that most directly affect mortgage rates. Weaker-than-expected Consumer Sentiment data continued to keep demand high for less...

• Improving Credit Markets Force Titanium Shut Down; What is Moving the Relative Prices of Ginnie, Fannie, and Freddie MBS?
• MBS MID-DAY: Flat To Start, Rallying After Opening Bell, Sentiment Helped
• The Day Ahead: Already Settling into Pre-FOMC Patterns?
• Senators Introduce Bill To Prohibit G-Fee Hikes Being Used For Spending
• Blackstone Buying $100M Single Family Homes per Week; LO Comp Plan Impact Default Rates? MBA Compliance Classes and QRM Update
• MBA Applauds Bill to Clarify QM Points and Fees

Micro News

Around the Web

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• Fannie Mae Preferred Stock Soars to Highest Since Bailout Month - Businessweek
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Video News

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Today's Comments

	"I see $8,000+ seller credit if using the builders lender - that's not built into the price? You're a fool if you think for a second that it isn't..."
	"In our current regulatory environment, I am surprised the affiliate model has lasted this long. I don't see a long shelf life for practices as they..."
	"I certainly respect the risk and investment a builder makes - with very little certainty and assurance a transaction will close - but coercing buyers ..."

Today's Q&A