According to the latest report from Fannie Mae, a pullback in economic policy uncertainty regarding fiscal and monetary policy issues is forecasted to lay the foundation for improved private sector activity and accelerated growth in 2014. For all of 2014, economic growth is expected to rise 2.9% from an estimated 2.6% in 2013. Read the…
Interest rates took a wild ride this month, surging on expectations that the Federal Reserve would taper its bond buying program and the receding when the central bank stood pat. The end result was that September was much kinder to borrowers and savers than August was. Interest paid on popular savings products either rose or…
The Federal Housing Administration will take a taxpayer subsidy for the first time in its 79-year history after efforts to improve its bottom line failed to offset losses on loans backed during the housing bubble, according to three people familiar with the matter. The government mortgage insurer will draw the money from the U.S. Treasury…
The Case-Shiller Home Price Index was released this morning, showing that home prices rose 2.4% for the month of May. This nearly matched the previous monthly gain of 2.6%, which is the highest on record. On a year-over-year basis, home prices rose 12.2%. These are the best year-over-year gains we have seen since March 2006.…
Demand for existing homes continued to rise over the previous thirty days according to the National Home Sales Snapshot released by DataQuick while home values rebounded after three weeks of declines. There were 269,817 properties sold over the previous thirty-day rolling period ending September 12th, up 0.9 percent from the previous week’s total of 267,316…
Mortgage applications increased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 30, 2013. The Market Composite Index, a measure of mortgage loan application volume, increased 1.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted…
An all-time record for home affordability was established in 2012, the National Association of Realtors (NAR) reports. More average-income families than ever could afford to buy a typical home last year, explains NAR. Great mortgage rates and terrific home prices create ideal conditions for purchasing real estate. “A window of opportunity remains open for buyers,”…