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Housing Headlines Archives for 2016-07

Housing starts in U.S. increased more than forecast in June

Economy

 

Bloomberg
Housing starts in U.S. increased more than forecast in June

New-home construction in the U.S. rose more than forecast in June, providing some momentum for residential real estate near the end of its busy selling season.


Bloomberg
U.S. home prices rose 5.6% in May from year earlier, FHFA says

U.S. home prices rose 5.6 percent in May from a year earlier as buyers competed for a scarcity of listings.


The Wall Street Journal
Dollar rises on housing data

The dollar rose to a four-month high against other major currencies Tuesday after a report showed U.S. home-building rose more than expected in June. (Subscription may be required.)

 

HousingWire
The future of mortgage rates in a post-Brexit world

Near the end of June, Brexit came, then it went and, according to Capital Economics, that's where the story ends. No more effect on the housing market, no more lowering the mortgage rates, according to Capital Economics.

 

The Washington Post
It takes way too long to build new housing in expensive cities

Rising home prices are a signal to builders: As housing gets more expensive, it's time to create more of it. Then as new buildings rise, the competition for scarce housing falls. And that keeps prices and rents from going crazy.

 

The Wall Street Journal
Building permit delays choke U.S. housing supply, study shows

The supply of new housing in the U.S. isn't keeping up with demand in part because of local delays in getting building permits approved, according to new research set to be released next week by real estate tracker Trulia. (Subscription may be required.)

 

MarketWatch
It's cheaper to rent a home than buy in just eight U.S. states

Is it a better deal for you to rent or buy a home? That may depend on the state you live in.

 

The Washington Post
Mortgage rates move higher for second week in a row

Mortgage rates moved higher for the second week in a row as financial markets leveled off after a rocky start to the summer.

 

Product News

 

Professional Warranty SC

Warranty Protection Generates Positive Results

By including a home warranty in the total sales price, builders increase home buyer confidence, minimize callbacks and decrease liability for years to come. Can you afford NOT to incorporate warranties in your offering?

 

MP Global
The Market is Warming Up for Electric Radiant Heat under Hard Surface Floors

While electric radiant under-floor heat systems for supplemental warmth started out years ago as a luxury option in new homes and high end renovations, they are now an increasingly popular perk for many types of new construction and remodeling projects. The concept is popular in bathrooms, kitchens, bedrooms, family rooms, entryways, laundry areas, sunrooms, and other spaces where a bit of extra warmth underfoot would be appreciated.  

 

Sherwin-Williams
Sherwin-Williams offers tips on integrating popular gray hues in your homes

Stay one step ahead of the trends with Sherwin-Williams. In this informative article, our experts offer advice to help you refresh your color palettes by incorporating gray hues in interesting ways. Learn how to create dimension, impact and warmth using today's most popular color.

 

Housing and the Election

 

Bankrate.com
GOP: Shrink Uncle Sam's role in housing

As Republicans gather in Cleveland, we don't know a whole lot about where Donald Trump stands on housing issues.

 

HousingWire
Republican Party calls for significant changes to housing in 2016

Lost amid the uproar over Melania Trump's supposed plagiarism of Michelle Obama on Monday night, the Republican Party actually conducted some official party business during the first night of its convention, when it approved its 2016 party platform.

 

Overtime Rule

 

Woodworking Network
New bill aims to slow down Department of Labor's dramatic hike in overtime pay

With the Department of Labor Overtime Rule scheduled to go in effect December 1, 2016, a new bill was recently introduced in Congress to slow down the ruling announced in May.


HOUSING FINANCE NEWS


National Mortgage News
High refinancings and loan runoffs raise issues for FHA

Federal Housing Administration borrowers have been refinancing faster than expected and the run off is creating a drag on efforts to build up the capital reserves of the agency's mortgage insurance fund. (Subscription may be required.)

 

FLOOD INSURANCE BILL


National Mortgage News
Private flood insurance bill has Fannie, Freddie on edge

A private flood insurance bill passed by the House is making Fannie Mae and Freddie Mac uneasy because they fear it could lead to greater losses, according to a recent report by the Government Accountability Office. (Subscription may be required.)


MORTGAGE NEWS


The Wall Street Journal
A reverse mortgage to buy a home? Here's how

Reverse mortgages are typically seen as a way for seniors to remain in their homes while drawing income from their property. But a reverse mortgage can also be used to buy a home. (Subscription may be required.)

 

FORECLOSURE NEWS


USA Today
Fraud complaints cloud foreclosure relief

In 2012, after a heart attack left him too ill to work and unable to make his mortgage payments on time, John Green turned to the Litvin Law Firm for help.

 

 

 

 

 

 

 

 


A compilation of the week's top housing headlines

ECONOMY


Investor's Business Daily
Where are America's most stable housing markets?

Although the future of the U.S. housing market looks a bit shaky after pending home sales dropped in May, just-released figures on the market's overall stability indicate that it's been moving toward increasingly firmer ground.


Forbes
Housing forecast: What to expect in the second half of 2016

Where have all the houses gone? That's the question economists and, more importantly, would-be homebuyers are asking themselves. Demand is healthy and home values are rising. Owning a home remains a better deal than renting one and mortgage rates are near record lows, meaning borrowing money to buy is cheap. Nevertheless, inventory is scarce and falling.


The Wall Street Journal
Foreign interest in U.S. homes cools

Miami condo developers, California real-estate agents and others in the housing industry have hoped recent turmoil in the global economy would boost foreign interest in U.S. homes. New figures suggest the opposite is happening.

 

USA Today
30-year mortgage rates approach all-time lows

Mortgage rates tumbled in the past two weeks, approaching all-time lows as the United Kingdom's vote to leave the European Union drove down Treasury yields.

 

The Wall Street Journal
Apartment rents rise 4% in second quarter

Increases in apartment rents slowed this spring, typically the period when landlords drive the hardest bargains, suggesting the once-booming market is beginning to cool. (Subscription may be required.)

 

MarketWatch
Mortgage rates hit fresh lows as Brexit ripples through markets

Home loan rates hit new lows for the year as the United Kingdom's surprise decision to exit the European Union sent investors racing for safe assets, mortgage giant Freddie Mac said Thursday.

 

The Wall Street Journal
Jumbo mortgages play larger role at U.S. banks

The jumbo mortgage business keeps getting bigger for banks. These high-dollar home loans rose to 24% of mortgage approvals at six of the largest U.S. banks in 2015 from 21% the year before, according to an analysis of federal home-loan data. These mortgages to the affluent, typically worth more than $417,000, have become increasingly popular among big banks in the wake of the mortgage crisis.


The Washington Post
Fed held its fire over concern about weak jobs report and Brexit vote

International economic uncertainty and a "surprisingly weak" May employment report helped persuade the Federal Reserve to hold back on plans to raise interest rates, according to notes of the central bank's June meeting released Wednesday.


HRAs


Reno Gazette-Journal
One View: Health care act would benefit small businesses

The U.S. House of Representatives recently took an important step forward to enable small business owners to help their employees with rising health care costs and to ensure more Americans receive affordable health coverage.

 

The News Journal
A big step forward for small business owners

The U.S. House of Representatives recently took an important step forward to enable small business owners to help their employees with rising health care costs and to ensure more Americans receive affordable health coverage.

 

GSEs


HousingWire
FHFA: Fannie, Freddie single securitization coming in 2018?

The Federal Housing Finance Agency announced Thursday that it is making progress on the implementation of the single securitization platform to be issued by both Fannie Mae and Freddie Mac, and, for the first time, provided a look at just when the common security will become a reality.


ZONING


The New York Times
How anti-growth sentiment, reflected in zoning laws, thwarts equality

The small city of Boulder, home to the University of Colorado's flagship campus, has a booming local economy and a pleasantly compact downtown with mountain views. Not surprisingly, a lot of people want to move here.

 

 

 

 

 


Home prices in 20 U.S. cities rose at a steady pace in April from a year earlier, a sign demand for residential real estate remains solid enough to support both buyers and sellers, data from New York-based S&P/Case-Shiller showed Tuesday.

ECONOMY

 

Bloomberg
Home-price increases in 20 U.S. cities hold steady in April

Home prices in 20 U.S. cities rose at a steady pace in April from a year earlier, a sign demand for residential real estate remains solid enough to support both buyers and sellers, data from New York-based S&P/Case-Shiller showed Tuesday.


HousingWire
Freddie Mac: Low interest rates help keep housing on track

Low mortgage rates are helping the housing market stay on track despite the rising home prices, according to Freddie Mac's Outlook for June.


Barron's
The housing market: No bubble, no bust

The housing market is finally advancing at a walk after inching forward at a crawl. But given the way housing overheated in 2006 and 2007, be thankful the walk hasn't turned into a sprint.

 

The Washington Post
Americans are paying more to live in the very places they once abandoned

America's urban downtowns were neglected for decades, abandoned for newer malls in the suburbs and bigger homes on the edge of town. The construction of new highways helped speed their decline. And rising crime nearly killed them.

 

MarketWatch
Pending home sales skid in May

A gauge of pending home sales slid 3.7% in May, a step back following several months of strong sales.

 

The Wall Street Journal
Today's renters really are worse off than their parents

It's not just your imagination. It is a lot harder to afford an apartment today than it was for your parents' generation.

 

Mortgage News Daily
Boomers' big impact on housing market

Baby Boomers, even as they age, continue to have an outsized impact on the housing market.  Freddie Mac recently conducted a large survey of those over age 55 to find out their housing perceptions and preferences.  The first data released from the survey dealt with responses from homeowners while a second analysis concentrated on those renting their homes.


Construction Dive
Redfin: Housing demand slips as buyers struggle to find available properties

The latest Redfin Housing Demand Index fell 5.3% in May to 114, the sixth month of consecutive declines.

 

HOUSING FINANCE

 

MarketWatch
Most mortgages sold by the government remain delinquent, FHFA says

More than three-quarters of the delinquent mortgages Freddie Mac and Fannie Mae have sold since 2014 are still delinquent today, according to a new report.

 

The Wall Street Journal
FHA revises troubled-loan program, aiming to keep borrowers in homes

The Obama administration is making changes to a program that sells distressed mortgages to investors that will make it easier for borrowers to stay in their homes but could also cost taxpayers money. (Subscription may be required.)

 

Bloomberg
Fannie-Freddie would be lender-owned insurers in DeMarco's plan

Fannie Mae and Freddie Mac would be put through receivership and turned into lender-owned insurers under a housing-finance overhaul plan co-authored by the companies' former regulator.

 

The Washington Post
Groups say Fannie and Freddie are gouging home buyers with add-on fees

Think of them as backroom surcharges that increase what you pay when you get a conventional home mortgage. They can also kill your loan application and make purchasing a house or condo much more difficult.

 

National Mortgage News
FHFA seeks comments on front-end risk Transfer deals for Fannie, Freddie

The Federal Housing Finance Agency is soliciting industry input on how to improve Fannie Mae and Freddie Mac's credit risk transfer transactions, for the first time considering front-end transactions rather than back-end deals. (Subscription may be required.)

 

MORTGAGE NEWS

 

The Wall Street Journal
U.S. homeowners could gain from Brexit vote

Britain's decision to leave the European Union could benefit a group thousands of miles away: U.S. homeowners. (Subscription may be required.)

 

The Wall Street Journal
Mortgage rates: How low can they go?

Mortgage rates are falling. And, thanks to Brexit, they may have further to fall. The yield on the 10-year U.S. Treasury has fallen fast and far in the wake of the U.K.'s vote late last week to leave the European Union. On Tuesday, it was around 1.46%. Before the vote it was 1.74%.

 

MarketWatch
Yes, Brexit will help you refi, but upheaval may not be good for housing market

The morning after the United Kingdom voted to exit the European Union is turning out to be tough for markets. But one group stands to benefit: U.S. homeowners and those who want to buy.

HousingWire

 

Housing Wire


Quicken Loans now offering 1% down mortgages

While megabanks like Bank of America, Wells Fargo, and JPMorgan Chase grabbed the headlines earlier this year by separately announcing plans to offer mortgages that only require a 3% down payment from the borrower, there is another major lender that is quietly requiring even less from borrowers.