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After Blockbuster February, Home Prices Face Uncharted Territory

Covid-Related Job Losses Hit Residential Construction

Black Knight's Deep Dive on Housing, Mortgages, and COVID

(Home) Building our Way out of Crisis

HUD Says First Relief Funds are on the Way

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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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Negative Equity Falls to Pre-Recession Levels Thanks to Home Price Gains

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by Jann Swanson on March 12 2020, 1:58 PM

Homeowner equity jumped again in the fourth quarter of last year. CoreLogic's report said it found that, among homeowners with mortgages, about 63 percent of the total, an additional 5.4 percent accrued to their home equity , translating into an increase...
COVID-19 Beginning To Affect Real Estate, But It's Not All Bad News

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by Jann Swanson on March 12 2020, 1:16 PM

Home sellers and potential buyers appear to be having a variety of reactions to the turmoil surrounding the COVID-19 virus with some even viewing it as an opportunity due to the lower interest rates . The National Association of Realtors® (NAR) conducted...
Historic Increase in Mortgage Demand is Mitigated by Tighter Credit

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by Jann Swanson on March 10 2020, 11:56 AM

Mortgage credit availability declined last month, and the Mortgage Bankers Association (MBA) says it might be the result of too much of a good thing. MBA's Mortgage Credit Availability Index (MCAI) dipped 0.3 percent from January to February to a reading...
Wall Street's Investment into Housing has Unintended Consequences

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by Jann Swanson on March 10 2020, 12:18 PM

Unless you were involved in the housing industry or suffered the loss of your home, you probably didn't notice or have by now forgotten one of the most lasting effects of the Great Recession . As home prices plummeted and an estimated six million homes...
Wells Fargo Once Again in DOJ's Hot Seat

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by Jann Swanson on March 10 2020, 3:39 PM

Following a full committee hearing on Tuesday morning that featured Charles W. Scharf, Chief Executive Officer (CEO) and President of Wells Fargo & Company, the House Financial Services Committee (FSC) has asked the Department of Justice to review...
Biggest Week-Over-Week Jump in Refi Applications... EVER!

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by Jann Swanson on March 11 2020, 4:53 AM

There was a nearly incomprehensible surge in mortgage applications during the week ended March 6 as mortgage rates hit near record lows. According to the Mortgage Bankers Association (MBA), while purchase applications had a better than average week, refinancing...
Income Gains are Keeping Potential Homebuyers in the Game

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by Jann Swanson on March 09 2020, 2:30 PM

Only one of the six components of Fannie Mae's Home Purchase Sentiment Index (HPSI) posted a net gain in February, but the increase in the numbers of respondents who reported significantly higher income almost offset the other declines. The HPSI dipped...
When it Comes to Housing, Oldest and Youngest Generations Finally Agree on Something

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by Jann Swanson on March 06 2020, 10:28 AM

The National Association of Realtors® (NAR) said its latest study on generational trends in homeownership has found that some homebuying characteristics of younger millennials are very similar to those of the silent generation. NAR's 2020 edition...
Epic Refi Boom Gets Even Crazier as Rates Crush All-Time Lows

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by Jann Swanson on March 04 2020, 4:50 AM

Interest rates fell along with the stock market last week as fears about the economic impact of COVID-19 sent investors fleeing to the safety of U.S. Treasuries. Applications for refinancing surged again, but purchase applications did not respond to the...
Low Rates and Rising Income Boosted Home Price Growth in January

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by Jann Swanson on March 03 2020, 10:28 AM

Home prices nationwide accelerated on an annual basis by 4.0 percent in January according to CoreLogic's Home Price Index (HPI). Annual appreciation has been trending higher since May as falling interest rates fueled demand. Month-over-month gains slowed...
Residential Construction Spending Surged in January

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by Jann Swanson on March 02 2020, 12:05 PM

Privately funded construction gained 1.5 percent month-over-month, from a seasonally adjusted $1.008 trillion in December to $1.023 trillion in January. This was a 4.9 percent increase from the previous January. On a non-adjusted basis spending fell from...
There are 11.1 Million Refi Candidates, With $2.99B in Potential Savings

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by Jann Swanson on March 02 2020, 11:34 AM

With Freddie Mac's average rate for 30-year fixed-rate mortgages (FRM) hitting 3.45 percent late last week. Black Knight estimates, in its current Mortgage Monitor , that there are now 11.1 million refinance candidates. These are homeowners who currently...
A Closer Look at Housing Shortages on a State-Level

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by Jann Swanson on March 01 2020, 12:15 PM

Some time ago, Freddie Mac's Economic and Housing Research Group raised an alarm over a housing shortage , calling it a crisis and estimating that the country needs about 2.5 million additional housing units over the short to medium term to fill the gap...
Refinances Dominated Freddie Mac January Volume

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by Jann Swanson on February 28 2020, 9:32 AM

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 4.3 percent in January , a substantial change from the 15.2 percent gain in December. The portfolio balance at the end of the period was $2.339 trillion...
Home Equity Preferences as a Factor of Age and Race

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by Jann Swanson on February 27 2020, 1:07 PM

A recent post on the Urban Institute's (UI's) Urban Wire blog focuses on some overlooked data on FHA's Home Equity Conversion Mortgage (HECM) program. The program guarantees loans, commonly called reverse mortgages, for homeowners 62 years and older....

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