Interthinx is Your Blueprint for Quality._id1342
in News > Residential Mortgage
print the content item
The Massachusetts Association of Realtors (MAR) reports that sales of both single-family homes and condominiums experienced their largest May increase since MAR been tracking monthly data. For the third consecutive month, the number of single-family homes for sale also went up compared to the year before.

There were 3,911 detached single-family homes sold this May - a 31.5% increase from the 2.975 homes sold the same time last year. The May condominium market was up 32.4% compared to the same time last year (from 1,235 units sold in 2009 to 1,635 units sold in 2010).

MAR President Kevin Sears urges Congress to extend the tax credit deadline for buyers already in the pipeline, noting that some buyers who previously met all the qualifications for the tax credit might not be able to close by the June 30 deadline.

“It would be terrible for those buyers if they were not able to complete the purchase in time to claim the credit," Sears says.

The entire May home-sales report is available on MAR's website.

SOURCE: Massachusetts Association of Realtors




Latest Top Stories

CFPB Selects Vendors And Lenders For Its Mortgage E-Closing Pilot

Five technology firms and seven lenders will participate in the CFPB's e-closing pilot, which will explore the viability of developing a standard process for closing mortgages using technology.


BofA To Pay Nearly $17 Billion To Resolve Mortgage Bond Probe

The agreement with the U.S. Department of Justice eclipses the $13 billion settlement JPMorgan Chase reached with federal and state authorities over similar allegations last November.


FHFA Seeks Feedback On Proposed Single Security For GSEs

The agency is requesting feedback from mortgage industry professionals on all aspects of the proposed single security structure and in particular, issues regarding the transition from the current system to a single security.


Ellie Mae To Buy AllRegs For $30 Million

"With the acquisition of AllRegs, Ellie Mae will expand its customer base and add a broad array of content and services that complement our portfolio of product offerings," says Sig Anderman, CEO of Ellie Mae.


Survey Shows ATR/QM Rules Are Negatively Affecting Approvals

In a survey of loan officers commissioned by the Federal Reserve Board, more than half said the CFPB's ability-to-repay/qualified mortgage rule has reduced approval rates for certain types of mortgages.

LenderLive_id1241
Hse SandyHook
Industry Resource
Orb Mobile
NAMFS_id1321
FedHomeLoan_id1341
Safeguard_id1322
SWBC_id1313