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Finance and Economy Archive
REGIONAL SPOTLIGHT—The following analysis of the Baltimore Metro Area housing market has been prepared by housing market expert Jonathan Miller of Miller Samuel, based on the August 2011 RBI Pending Home Sales Index™.
The multifamily housing market continued to show improvement in the second quarter of 2011, as the Multifamily Production Index (MPI) compiled by the National Association of Home Builders (NAHB) increased for the fourth consecutive quarter.
The MPI rose from 41.7 in the first quarter of the year to 44.4 in the second quarter. It is the highest quarterly reading since 2006, and continues the trend of generally improving conditions in the market for new multifamily housing that has emerged since the MPI dropped to a record low of 16.0 in the third quarter of 2008.
Mortgage rates fell once again, to the lowest point on record, according to mortgage rate research website, ForTheBestRate.com. Rates for a 30 year fixed rate mortgage were advertised as low as 3.875% (APR: 4.040%, Lender: LoanDepot) on Thursday, September 8th. Pricing this low for residential home loans is unprecedented, and ...
Mortgage applications decreased 4.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending September 2, 2011.
Recently, the National Association of Home Builders (NAHB) released its first NAHB/First American Improving Markets Index (IMI), a new economic index revealing metropolitan areas that have shown improvement for at least six months in three key economic areas—housing permits, employment and housing prices.
Freddie Mac's (OTC: FMCC) full menu of relief policies for borrowers affected by disaster is being extended to homeowners whose homes were damaged or destroyed by Hurricane Irene and are located in counties that the President has declared to be Major
A Chicago Agent magazine survey found that agents’ average income increased 8.5 percent. The average income in 2009 was $64k, and in 2010, this survey shows the average income was $70k.
The number of consumers across the country who filed applications for new home loans recently fell considerably, as fewer borrowers sought to refinance their existing mortgages. Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests that consumers review
online rate tables to find the best rates with which to refinance a current home loan.
The percentage of mortgages in default more than 60 days in Fannie Mae’s portfolio have fallen to the lowest level in two years, another sign that defaults are slowly but steadily declining as more homeowners pay their mortgages on time.
Independent mortgage banks and subsidiaries made an average profit of $575 on each loan they originated in the second quarter of 2011, up from $346 per loan in the first quarter of 2011, according to the Mortgage Bankers Association’s Second Quarter 2011
Real estate appraisers must consider the impact of local governments’ comprehensive plans when producing appraisals, according to an article published in The Appraisal Journal’s summer issue.
The average home entering the foreclosure process today won’t house new owners until the next president has been inaugurated and in office for three months.
New data from LPS shows that payments have not been made on the average loan in foreclosure in a record 599 days, or 20 months. Of the nearly 1.9 million loans that are 90 or more days delinquent but not yet in foreclosure, 42 percent have not made a payment in more than a year with an average delinquency of 397 days—also a new record.
Home prices rose in the second quarter almost as much as they fell in the first, but prices at the end of June still trailed June 2010 levels, which still reflected demand generated by the tax credit boomlet.
Regional Spotlight—Halstead Property Development Marketing and West 147th Associates LLC, the developers of PS90, a Harlem, New York-based school-turned-condo development, recently announced a new tuition incentive of $1,000 per unit for buyers who sign new contracts by September 30th. ...
Pending home sales declined in July but remain well above year-ago levels, according to the National Association of REALTOES®. All regions show monthly declines except for the West, which continues to show the highest level of sales contract activity. ...
