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Business Outlook Archive


Mortgage Applications Skyrocket 49 Percent – Largest Weekly Jump Since 2008

Mortgage applications made big moves last week, increasing 49.1 percent from one week earlier and showcasing the largest jump since November 2008, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 9, 2015. ...


Properties with Foreclosure Filings Down 18 Percent – Lowest Level Since 2006

Foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 1,117,426 U.S. properties in 2014. This number is down 18 percent from 2013 and 61 percent from the peak of 2,871,891 properties with foreclosure filings in 2010, according to the recently release RealtyTrac® ...


High Court Makes It Easier for Borrowers to Walk Away from Underwater Homes

On Tuesday, the U.S. Supreme Court ruled that borrowers looking to rescind their mortgages simply need to notify creditors in writing of their intention to rescind within three years under a key fair lending law. This ruling could possibly make it much easier ...


Tips for Home Buying under Obama’s New FHA Policy

President Obama announced last week a new policy that will reduce annual mortgage insurance premiums (MIP) on FHA loans. The National Association of REALTORS® estimates that a reduction in the annual MIP of .50 to .85 percent will enable many first-time borrowers and ...


Loan Delinquencies Reach Record Low

Delinquencies continued to decline in last year’s third quarter, falling in seven out of 11 categories as the economy improved and consumers responsibly managed their finances, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. ...


Real Estate Roundtable Praises Bipartisan House Vote to Extend Terrorism Risk Insurance Act (TRIA)

The recent bipartisan House vote of 416-5 to extend the Terrorism Risk Insurance Act (TRIA) for six years is a major step forward in bolstering economic security, maintaining positive momentum in commercial real estate markets and reducing policy uncertainty with a multi-year reauthorization, ...


Portal Power-Play Heats Up: Zillow to End Listing Agreement with Listhub

There’s more news to report this week on the ongoing battle among the real estate search giants. Zillow disclosed this week in an SEC filing that its listing agreement with Listhub will end on April 7. ...


3 Reasons Housing is Looking Up in 2015

As 2015 rolls forward, there are several economic indicators that the housing market may have a break-out year. Let's review the top three. ...


Stronger Economy, Solid Job Growth Expected to Boost Home Sales in 2015

Existing-home sales are forecasted to rise about 7 percent in 2015 behind a strengthening economy, solid job gains and a healthy increase in home prices, according to National Association of Realtors® Chief Economist Lawrence Yun in a newly-released video on his 2015 housing ...


2014: Consumer Attitude toward Housing Remained Cautious

Americans are becoming more optimistic about the economy, but consumer confidence toward the housing market is lagging, according to results from Fannie Mae’s December 2014 National Housing Survey™. Likely bolstered by a strengthening employment sector, the share of consumers who believe the economy is headed in the right direction improved ...


30-Year Fixed Mortgage Rates Plunge to 19-Month Low

The 30-year fixed mortgage rate on Zillow(R) Mortgages is currently 3.58 percent, down fourteen basis points from Jan. 8 to Jan. 1. The 30-year fixed mortgage rate rose early last week, peaking at 4.03 percent on Friday before falling to the current rate. ...


Index: Prices Up ‘Across the Board’ in 2014, Midwest Expected to Outpace the Nation

With 2014 behind us, 2015 promises changes within the market as the housing recovery moves forward, according to recently released information from Clear Capital, a provider of data and solutions for real estate asset valuation and collateral risk assessment. The company recently released ...


Housing Share of GDP at 15.2 Percent for Third Quarter

Economic growth in the third quarter was certainly good news for housing and the overall economy. The final estimate of GDP growth from the Bureau of Economic Analysis (BEA) was a 5 percent seasonally adjusted annual growth rate, up from 3.5 ...


Pending Home Sales above Year-Over-Year Levels for Third Straight Month

Pending home sales slightly rose again in November, rising over year-over-year levels for the third straight month, according to the National Association of REALTORS®' The Pending Home Sales Index. All major regions except for the Midwest experienced a slight gain in activity in November. ...


New Regulations Affect Homeowners in 2015

Increasing energy efficiency has long been the mission of the U.S. Department of Energy (DOE), and in 2015, two new regulations involving air conditioning equipment and water heaters will take effect to support this goal. REALTORS® need to be familiar with the new ...


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