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Finance and Economy Archive


Investors and the Home-Rental Market

In traditional housing recoveries, individuals and households provide the bulk of the demand the market needs to rebound. This time, though, a different kind of buyer has been powering the housing recovery: investors looking for valuable rental property. Along with individual investors, institutional investors have poured into the single-family home market, buying enough foreclosed and unsold homes to reduce inventories, drive up prices and encourage new construction. All-cash home purchases – many of which are made by investors – made up about 32.0% of sales nationally in March 2013, a stark rise from about 20.0% in 2009, according to the National Association of REALTORS®.


CoreLogic Acquires Case-Shiller

CoreLogic®, a leading residential property information, analytics and services provider, announced the acquisition of Case-Shiller® from Fiserv, Inc. in conjunction with first quarter 2013 CoreLogic earnings results on April 24, 2013. The acquisition closed on March 20, 2013. ...


Luxury Portfolio International® Expands Globally with 15 New Members in Q1

Luxury Portfolio International® has expanded its global footprint with the addition of 15 new member firms in the first quarter of the year, with extended coverage throughout Europe, as well as the U.S. and Canada,


REALTORS® Urge Preserving Homeownership Tax Policies

As Congress pursues comprehensive tax reform it should focus on doing no harm to housing and America’s 75 million homeowners by maintaining current tax laws for homeownership and real estate investment, the National Association of REALTORS® said in a recent testimony. NAR President Gary Thomas testified before the U.S. House Ways and Means Committee concerning Federal tax provisions that affect residential real estate.


House Prices Continue Their Ascent

Nationally, house prices continued to rise in February, contributing to the overall recovery in U.S. house prices. According to the most recent release  by the Federal Housing Finance Agency, U.S. house prices rose by 0.7 percent


New-Home Sales Rise 1.5 Percent in March

Sales of newly built, single-family homes rose 1.5 percent to a seasonally adjusted annual rate of 417,000 units in March, according to newly released figures from HUD and the U.S. Census Bureau. “This is the second-best sales number we’ve seen since early 2010, and a good sign of the continued, gradual headway that our industry is making toward recovery as more buyers jump off the fence in time to take advantage of today’s low interest rates and prices,” said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. “The latest sales report is right in line with our forecast for continued, modest increases in home prices and sales through 2013,” said NAHB Chief Economist David Crowe. “At this point, we are about half-way back to what would be considered a ‘normal’ level of sales activity


March Existing-Home Sales Slip Due to Limited Inventory, Prices Maintain Uptrend

Existing-home sales eased in March from inventory constraints, which continued to pressure home prices, according to the National Association of REALTORS®. Total existing-home sales, which are completed transactions


Mortgages Are Coming Home

Since late last year, industry experts forecast a drop in mortgage refinancings as rates rise, and a revival of purchase mortgages, as the housing recovery creates business for lenders willing to work with buyers. The spring housing market is here and now the mortgage market is following. Purchase mortgages zoomed to their highest monthly market share since last August in Ellie Mae’s latest originations report, a sign that the mortgage business is shifting gears and the greatest boom in refis in recent years is ending. Loans to buyers made up 38 percent of all loans processed by the nation’s largest mortgage processing platform, up from 32 percent in February and 27 percent in January.


First-Quarter Economic Growth Stronger Than Expected

Recent data indicate that economic growth in the first quarter has accelerated to an above-trend—but likely unsustainable—pace of 3.2 percent, according to Fannie Mae’s Economic & Strategic Research Group.


Rising Costs Put Squeeze on Builder Confidence in April

Facing increasing costs for building materials and rising concerns about the supply of developed lots and labor, builders registered less confidence in the market for newly built, single-family homes in April,


FHA Reform Efforts Must Ensure Borrowers Have Access to Affordable Home Loans

With tight mortgage lending standards preventing well-qualified home buyers from obtaining home loans and impeding the housing and economic recovery, the National Association of Home Builders (NAHB) recently expressed support for congressional efforts to reform the Federal Housing Administration (FHA) but urged lawmakers to proceed in a cautious manner to avoid any disruptions to the nation’s housing finance system. Testifying before the House Financial Services Subcommittee on Housing and Insurance, NAHB First Vice Chairman Kevin Kelly, a builder and developer from Wilmington, Del., points out the vital role


4 Myths of Online Real Estate Lead Generation

Using the internet to capture real estate leads can be an exciting way to earn new business. It can also be a major undertaking for those without the training, understanding or systems to manage online lead generation.


Mortgage Rates Edge Down for Second Week

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates edging down for the second consecutive week following weak employment reports.


Beware the 3 Percent Cap on Fees and Points

The Consumer Financial Protection Bureau (the Bureau) issued a somewhat final Ability to Repay (ATR) Qualified Mortgage (QM) rule in January. The pleasant surprise was the inclusion of a safe harbor for many QM loans. NAR and its industry partners fought for several months to ensure that the less safe ...


Realogy Announces Preliminary First Quarter 2013 Results

Realogy Holdings Corp recently provided preliminary estimates of certain of its financial and operational results for the first quarter ended March 31, 2013: • Net revenue is expected to be in the range of $950 million to $960 million, representing an increase of 9 percent to 10 percent compared to first quarter 2012. • Adjusted EBITDA(1) is expected to be in the range of $70 million to $74 million, representing a 32 percent to 40 percent increase from prior year results.



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