WASHINGTON, DC – More mortgage lenders say they have eased credit standards recently and expect further easing in the coming months, according to Fannie Mae’s second quarter 2017 Mortgage Lender Sentiment Survey®. On net, the share of lenders reporting they have eased mortgage credit standards over the prior three months has ticked up gradually since … Continue reading As Mortgage Demand Cools and Competition Heats Up, More Lenders Are Planning to Ease Credit Standards Katie Penote
Month: June 2017
The rent is too darn high by Clare Trapasso
It might be tough to buy a home in many markets these days, but renting isn't a cakewalk either, as the housing shortage extends to rental properties. Rents rose about 3.8% nationally in 2016, although uber-pricey markets like San Francisco and New York City are beginning to soften, the report noted. The number of units on … Continue reading The rent is too darn high by Clare Trapasso
Black Knight Financial Services’ First Look at May 2017 Mortgage Data Easing Interest Rates Spur Increase in Prepayment Activity; Delinquencies Pull Back After April’s Increase
Prepayments (historically a good indicator of refinance activity) jumped 23 percent month-over-month, reaching their highest point so far in 2017 Delinquencies reversed course after calendar-driven increase in April, seeing a 7 percent month-over-month decline Inventory of loans either seriously delinquent (90 or more days past due) or in active foreclosure continues to improve, with both … Continue reading Black Knight Financial Services’ First Look at May 2017 Mortgage Data Easing Interest Rates Spur Increase in Prepayment Activity; Delinquencies Pull Back After April’s Increase
CPL fees – when you want them removed from your settlement statement
In regards to the CPL, this fee cannot be removed as they are a requirement for all transaction per IL statute. On August 20, 2010 Illinois Governor Patrick Quinn signed HB5409 (Public Act 096-1454) which mandates the issuance of closing protection letters (CPL) for commercial real property transactions under $2 million and for all residential … Continue reading CPL fees – when you want them removed from your settlement statement
Housing: Buy now — if you can afford it By Roger Ruvolo
Homebuyers beware — Inland Southern California is a tough market for you — and each month it’s getting tougher. May numbers from CoreLogic reveal that median prices have risen year over year in Riverside County ($330,000 to $356,000) and San Bernardino County ($285,000 to $310,000). These are within a few points of all-time highs. Moreover, … Continue reading Housing: Buy now — if you can afford it By Roger Ruvolo
Homes Near Trader Joe’s, Whole Foods Stores Appreciate Faster Homes within a mile of either high-end grocery store begin appreciating faster than other homes after the stores open, Zillow has discovered
SEATTLE, Jan. 25, 2016 /PRNewswire/ -- Your local grocery market has a lot to do with what happens in your local housing market, according to a new analysis by Zillow featured in the paperback edition of Zillow Talk: Rewriting the Rules of Real Estate (Grand Central Publishing, Jan. 26). Specifically, Zillow found that homes grow … Continue reading Homes Near Trader Joe’s, Whole Foods Stores Appreciate Faster Homes within a mile of either high-end grocery store begin appreciating faster than other homes after the stores open, Zillow has discovered
Lenders Loosen Risk Standards as Rates Rise by Aly Yale
Mortgage lenders are taking increased credit risks similar to those of the early 2000s, according to the Q1 Housing Credit Index Report released by CoreLogic on Tuesday. The level of credit risk taken by lenders in Q1 of 2017 was about the same as the average risk taken between 2001 and 2003. According to the … Continue reading Lenders Loosen Risk Standards as Rates Rise by Aly Yale
Fannie Mae June 2017 outlook quote
“Our June forecast assumes that the Fed will increase the target rate once more this year in September and will begin to taper reinvestment of principal payments from its securities holdings in December. However, the recent slowdowns in hiring and inflation could lead the Fed to hold off on the September rate hike in order … Continue reading Fannie Mae June 2017 outlook quote
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Most Buyers Unfazed by Rate Hikes, Inventory Continues Dropping
Home prices are on the rise this summer selling season, according to the latest report from Redfin. May marked a 6.8 percent rise in home prices, making the median sale price $288,000. Despite home shortage and the number of homes for sale decreasing 10.9 percent, over the last year home sales increased 7.5 percent. However, … Continue reading Most Buyers Unfazed by Rate Hikes, Inventory Continues Dropping
The Law Office of Beth Mann, P.C. 