Real Estate Today 8-8-2012

08 Aug

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Recovery or Not, Home Prices Keep Rising
The Wall Street Journal | August 7, 2012
CoreLogic, a real-estate data provider, weighed in with its view of what’s happening with home prices. According to the firm, prices are up 2.5% in June.

U.S. Mortgage Application Volume Down 1.8%
The Wall Street Journal | August 8, 2012
The number of total mortgage applications filed in the U.S. last week slipped 1.8% as interest rates for 30-year fixed-rate mortgages crept higher, the Mortgage Bankers Association said Wednesday.

Is the Fed Eyeing a Housing Solution?
The Wall Street Journal | August 7, 2012
So, another big bond-buying program, a so-called QE3, might be the Fed’s way of riding that pony, pushing the housing market, and hoping that gooses the economy.

Record One-third of GSE Refinances Close Via HARP
HousingWire | August 7, 2012
One of every three refinances through Fannie Mae and Freddie Mac closed via the Home Affordable Refinance Program, the highest number since the program’s inception in April 2009.

Small Banks Dislike Rules
The Wall Street Journal | August 7, 2012
Executives at many small banks complain that Basel III could force them to cut back on lending, and they have been blunt in their criticism of the new rules.

Freddie Mac Posts $1.2B Net Income
The Washington Post | August 7, 2012
The government-controlled mortgage giant isn’t requesting any additional federal aid for the period.

Harder-Luck Foreclosures Grow as Funding for Help Wanes
BusinessWeek | August 7, 2012
Larrone Brown has been dodging foreclosure since losing his job in December 2010. He has twice been denied a mortgage modification and says he expects a foreclosure notice any day.

MetLife Fined by Fed Ahead of Exit From Banking
BusinessWeek | August 7, 2012
MetLife Inc., the insurer seeking an exit from banking to limit U.S. regulation, was penalized $3.2 million by the Federal Reserve for lapses tied to the servicing of loans and handling of foreclosures.

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Posted by on August 8, 2012 in Real Estate news


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