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The shrinking rate of home price increases that has headlined the price data from most sources for months may have ended, at least according to CoreLogic Home Price Index (HPI), and the company is seeing more aggressive appreciation in the future . The HPI for May increased by 3.6 percent on an annual basis, up from a 3.5 percent gain in April. The month-over-month change was 0.9 percent. Frank Nothaft, CoreLogic's chief economists said, " Interest rates on fixed-rate mortgages fell by nearly one percentage point between November 2018 and this May. This has been a shot-in-the-arm for home sales . Sales gained momentum in May and annual home-price growth accelerated for the first time since March 2018." The states with the highest increases were Idaho, up 10.7 percent and Utah with a 7.8 percent
Housing News
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The shrinking rate of home price increases that has headlined the price data from most sources for months may have ended, at least according to CoreLogic Home Price Index (HPI), and the company is seeing more aggressive appreciation in the future . T... (read more)
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Mortgage Rate Watch
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Mortgage rates moved down today by varying amounts depending on the lender. In some cases, lenders weren't offering much of an improvement over yesterday. Those lenders are more likely to improve tomorrow, or at least we can say they'll be starting w... (read more)
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Rob Chrisman
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This weekend I helped my son change apartments in San Francisco, and all over were billboards for ZeroDown.com : “Smartest Way to Buy a Home.” And if there is one market where a help system is needed, that would be the Bay Area. One must ... (read more)
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Housing News
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May mortgage performance data indicates that the mortgage finance industry might consider shifting priorities for a while. Black Knight, in the current edition of its Mortgage Monitor, points to the heavy prepayment risk for especially for adjustable... (read more)
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Housing News
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Construction spending in May, dipping 0.8 percent compared to April's seasonally adjusted annual rate of $1.304 trillion to $1.294 trillion. On an annual basis, overall spending is down 2.3 percent on an annual basis and residential spending is off 1... (read more)
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MBS Commentary
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In the amusement park that is financial markets, each asset class has a few favorite rides. When the place is packed, it's tough for any given asset class to take too many turns on any given ride within a certain amount of time. A b... (read more)
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