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Foreign buyers cut back their investment in U.S. residential properties over the 12 months that ended in March. It was the second year-over-year decline. The National Association of Realtors® (NAR) annual survey among its members about their transactions with international clients found foreign buyers purchased $74 billion in existing U.S. homes from April 2019 through March 2020, a 5 percent decline from the same period a year earlier. The number of properties purchased dropped 16 percent to 154,000. Foreign buyers who were U.S. residents, either as recent immigrants or holding the appropriate visas, purchased $41 billion in residential real estate, down 8 percent from the prior period. Foreign buyers living abroad spent $33 billion, a 1 percent decrease. Those two types of international
Housing News
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Foreign buyers cut back their investment in U.S. residential properties over the 12 months that ended in March. It was the second year-over-year decline. The National Association of Realtors® (NAR) annual survey among its members about their tran... (read more)
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Mortgage Rate Watch
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Mortgage rates cooled off today, rising for the first time since July 27th for the average lender. Between now and then we've seen a string of what have mostly been new record lows with top tier 30yr fixed offerings well under 3%. For more on what co... (read more)
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Rob Chrisman
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Originators and lenders are having a great summer from income and profitability perspectives. The thick margins are making managers look like champs, arguably covering up other issues that would normally be corrected. Rocket, the parent company of la... (read more)
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Housing News
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Home prices increased in June at the fastest pace in more than seven years. CoreLogic said its Home Price Index (HPI) rose 1.0 percent from May, the largest month-over-month gain since January 2013. The appreciation from April to May was 0.7 percent.... (read more)
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Housing News
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Mortgage application volume declined during the week ended July 31 even as mortgage interest rates reached another all-time low. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, decreased 5.1 percent o... (read more)
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MBS Commentary
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Bonds Generally Consolidating Ahead of Jobs Report
MBS were higher today, but for the week as a whole, they've been flat (and right in line with last Friday's levels as of this afternoon). That doesn't ... (read more)
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