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As the value of residential real estate rises with home prices, so has the owner's equity share of that value. Jing Fu, writing in the National Association of Home Builders' (NAHB) Eye on Housing Blog, says that equity hit a new high in the first quarter of this year. Fu uses figures from the Federal Reserve's Board of Governors' Financial Accounts of the U.S. to show the overall nominal, non-seasonally adjusted value of owner-occupied housing units in the nation grew to $25.1 trillion during the quarter. This is an increase of $544 billion from the total in the fourth quarter of 2017 and $1.674 trillion more than the first quarter of last year. At the same time, the growth of mortgage debt fell negative in 2008 and remained so until early 2015. It has risen only modestly since then. Its was
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Housing News
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As the value of residential real estate rises with home prices, so has the owner's equity share of that value. Jing Fu, writing in the National Association of Home Builders' (NAHB) Eye on Housing Blog, says that equity hit a new high in the first qua... (read more) |
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Mortgage Rate Watch
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Mortgage rates edged up to the highest levels in several weeks today. Only a handful of days from mid-May stand between current levels and the highest rates in 7 years. That sounds a bit more dramatic than it is. Rates have been pretty close to these... (read more) |
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MBS Commentary
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History suggests that Fed/ECB meetings in June are more than up to the task of causing significant volatility in bond markets. It also suggests that summertime Mondays often turn into unofficial 3-day weekends. Both options are still on... (read more) |
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Rob Chrisman
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Residential lenders aren’t the only ones having a tough time out there. Builder Hovnanian reported a Q2 loss of $9.8 million. The Social Security program’s costs will exceed its income this year for the first time since 1982, forcing the ... (read more) |
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MBS Commentary
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Bond markets have weathered the storm of Italian political drama, which created the bulk of volatility over the past 3 weeks. They've considered the implications of various tariff-related developments at home, as well as the implications for po... (read more) |
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MBS Commentary
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What a quiet and boring trading session it was! Well, to be fair, there's still half an hour left as I type this, but most bond market participants mark the end of the day at 3pm E.T. By that time, we were almost perfectly unchanged and... (read more) |
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consumerfinancemonitor.com
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