Tuesday , 21 January 2020

Mortgage News Daily

Mortgage News Daily

December’s Housing Starts Surged to 13-Year High

While permits fell from the previous month, the U.S. Census Bureau and the Department of Housing and Urban Development said December was another exceptional month for residential housing starts. Those starts soared to a seasonally adjusted annual rate of 1,608,000 during the month, a 16.9 percent increase from November’s estimate which was revised from 1,365,000 to 1,375,000. The December number …

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Finding a Balance Between Mortgage Availability and Default Risk

CoreLogic is continuing its analysis of the potential impact of the January 2021 expiration of the so-called “GSE Patch.” Under the Consumer Financial Protection Bureau’s (CFPB’s) 2013 Ability-to-Repay (ATR) and Qualified Mortgage (QM) Rules, lenders must make a reasonable, good faith determination of a consumer’s ability to repay a mortgage loan based on verified financial information generally associated with responsible …

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Survey Says: Great Time to Buy a Home, Or Sell! Rates Bounce Higher

Results of a survey by the National Association of Realtors (NAR) released today echo the findings from the most recent National Housing Survey (NHS) conducted by Fannie Mae – Americans think this is a great time to buy a home. Sixty-three percent of respondents to NAR’s fourth quarter Housing Opportunities and Market Experience (HOME) survey expressed that opinion (59 percent …

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Homebuyer Course Could Help Borrowers Qualify; Rates Move Deeper Into Recent Lows

Freddie Mac is announcing it has put a critical homebuyer education course online. The new tutorial, called CreditSmart® Homebuyer U is free and its successful completion satisfies the HomeOne SM or Home Possible ® mortgage homeownership education requirement. CreditSmart Homebuyer U offers six educational modules, each focused on a key learning principle relating to money management, credit, getting a mortgage, …

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Pending Home Sales Index Surges Past 2018 Numbers; Think You Found a Better Deal? Think Again

Pending home sales bounced back in November , partially recovering from a 1.7 percent decline in October. The National Association of Realtors® said its Pending Home Sales Index (PHSI), a measure of contracts signed during the month to purchase existing homes, gained 1.2 percent in November to a reading of 108.5 from 106.7. The index is now up 7.4 percent …

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Silver Lining Sales Forecast; Inventory Hurting; Highest Rates in a Month

Fannie Mae substantially revised its housing forecast this month, especially as regards new home construction. The company’s Economic and Strategic Research (ESR) Group said it based its upward revision on “the breadth of positive economic signals,” including the continued modest growth of the economy despite a variety of risks , ongoing strength in labor markets and the resulting stability of …

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