The surplus of sellers in some U.S. metros are giving buyers more negotiating power. Processing Content Nearly three-quarters of the most populous cities are buyers markets in May, according to a recent report by Redfin. Of the 50 markets analyzed, Nashville, Miami and three Texas metros have the largest discrepancy. Nationwide, sellers outnumber buyers by […]
The top housing markets for buyers this spring season Read More »
Most of the economists participating in Wolters Kluwer Blue Chip Economic Indicators panel expect the Federal Open Market Committee to eventually resume an easing of short-term rates. Processing Content However, the share in its June survey expecting the next FOMC move to be an increase grew by 15 percentage points versus the prior two months.
Inflation fears push some economists to expect rate hike Read More »
Existing-home sales in the US accelerated to their fastest pace of the year in May, providing a dose of optimism after a tepid start of the spring selling season. Processing Content Contract closings rose 3.2% to an annualized rate of 4.17 million last month, according to data released Tuesday by the National Association of Realtors.
Existing-home sales jump to highest this year, top forecasts Read More »
Americans express sagging confidence this decade in their ability to make ends meet, even as they make progress in financial planning and budgeting, according to new research. Processing Content In a more encouraging sign, though, fewer homeowners are experiencing mortgage-related stress compared to five years ago, the study from personal finance media company Ramsey Solutions
A majority of Americans admit to growing financial stress Read More »
Current homeowners looking to sell during May posted at prices 2.4% lower than one-year prior, the steepest decline since 2017, according to Realtor.com Processing Content This came as pending sales increased for a sixth straight month. It was also the best May for new listings since 2022, with a 2.1% annual increase. Sellers are doing
Home list prices fall at fastest rate since 2017 Read More »
Of the 50 U.S. counties with the risk for distressed properties, 31 are concentrated in four states, led by Florida, an Attom Data Solutions analysis found. Processing Content Florida is the home of 12 of those counties, with the No. 1 most at risk locale in the nation being Charlotte County. California was next with
31 of 50 riskiest housing markets cluster in 4 states Read More »
The risk for mortgage fraud in loan applications decreased 9% on both a quarter-to-quarter and annual basis but problems remain with submissions for both investor and multifamily properties, Cotality said. Processing Content The first quarter ended with approximately 1-in-129 mortgage applications having some indicator of fraud, putting the Cotality National Mortgage Fraud Application Risk Index
Mortgage fraud risk drops 9%; investor loans a concern Read More »
The U.S. foreclosure inventory as of the end of the first quarter was at its highest level in six years, with over three quarters of the nation’s metro areas reporting higher rates, Cotality’s latest Loan Performance Indicators report disclosed. Processing Content The foreclosure inventory rate rose for the first time in 15 months, with both
Foreclosure inventory rises in 1Q to six-year high Read More »
MV Realty, the company that marketed a controversial homeownership benefits program that locked consumers into a relationship for 40 years, has now settled its legal matters with the California Attorney General’s office. Processing Content The deal follows agreements reached with officials in Nevada, Pennsylvania and North Carolina during April. Massachusetts entered into a settlement with
MV Realty to pay $2.5 million to California NTRAPS victims Read More »
Surging interest rates pushed housing affordability lower for the second straight month in April, but rising wages helped blunt the blow for mortgage borrowers, according to the Mortgage Bankers Association. Processing Content The median monthly payment on April’s purchase mortgage applications increased to $2,152 from $2,131 the previous month, with the latest number hitting its
Wage growth softens the sting of rising mortgage payments Read More »