Buzz Feed

Appraiser Opinions Trail Owner Estimates of Home Values By Just One Percent

By QLAdmin • Quicken Loans’ National HPPI shows appraised values closer to meeting homeowners’ estimates in November • Home values rose 0.42% in November and increased 5.28% year-over-year, according to the National HVI DETROIT, December 13, 2016 – Homeowner perceptions were a mere 1 percent higher than appraiser opinions in November, according to Quicken Loans’ National Home Price Perception Index …

Read More »

Growth in Homeowners’ Equity Continues

By Michael Neal According to the Federal Reserve Board’s third quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $22.725 trillion in the third quarter of 2016, $1.520 trillion higher than its level in the third quarter of 2015, $21.204 trillion. At the …

Read More »

Non-Mortgage Credit Growth Continues

By Michael Neal The Federal Reserve Board reported that consumer credit outstanding continues to grow. However, at a seasonally adjusted annual rate of 5.2 percent over the month of October 2016, growth in consumer credit was 1.9 percentage points slower than its rate, 7.1 percent, in September. There is now $3.73 trillion in outstanding consumer credit. Revolving credit has also …

Read More »

Rates Steady in October as Increases Expected

By Michael Neal Nationally, the contract interest rate on conventional mortgages for home purchase held steady in October 2016. Over the month, the rate on conventional mortgages for home purchase was unchanged at 3.60%, according to data released by the Federal Housing Finance Agency (FHFA). Rates on the purchase of previously occupied homes ticked up 1 basis point to 3.62% …

Read More »

Serious Delinquency Rates Improve Across Most Household Debts

By Michael Neal A recent release by the Federal Reserve Bank of New York indicates that, in aggregate, 90 or more day delinquency rates are falling on most household debt products. However, serious delinquency on student loans remains elevated while a greater portion of auto debt held by households with low credit scores is entering serious delinquency. The results indicate …

Read More »

NAHB Survey: AD&C Financing Standards Continue to Ease

By Michael Neal Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans according to NAHB’s survey on AD&C Financing. However, the pace of easing slowed somewhat in the third quarter of 2016 from the rate in the second quarter. In the third quarter of 2016, the overall net tightening index based on the …

Read More »

Construction of Affordable Rental Housing under the USDA 538 Program

By Michael Neal A recent NAHB study based on new data from the U.S. Department of Agriculture (USDA) shows that, in 2014, $93 million in loans were closed and used to finance the construction of 77 new multifamily projects, under USDA’s Multifamily Housing Loan Guarantee Program (also known as the 538 Guaranteed Rural Rental Housing program). The data were provided …

Read More »

Share of Past Due Mortgages Reaches Post-Recession Low

By Michael Neal Information released by the Mortgage Bankers’ Association (MBA) indicates that the share of all 1-4 family mortgage loans past due has returned to a level of normality. According to the MBA’s National Delinquency Survey, the share of all 1-4 family mortgages considered past due fell by 14 basis points to 4.52 percent. One year ago 4.99 percent …

Read More »