Archive for home sales

NAR: Pending Home Sales Dipped 0.8% In March

Posted by Patrick Barnard on April 28, 2017

After jumping 5.5% in February, pending home sales dipped 0.8% in March, according to the National Association of Realtors (NAR). Still, pending home sales were up 0.8% compared with March 2016. The month-over-month dip in March was not due to [Read More]

Trump Taps Pam Patenaude To Become Next HUD Deputy Secretrary

Posted by Patrick Barnard on April 28, 2017

“Pam is an exceptional choice for the position,” says David H. Stevens, president and CEO of the Mortgage Bankers Association

Freddie Mac: Mortgage Rates Back On The Rise

Posted by Patrick Barnard on April 27, 2017

After hitting a low for the year, mortgage rates were back on the rise this week, with the average rate for a 30-year, fixed-rate mortgage (FRM) rising to 4.03%, up from 3.97% the previous week, according to Freddie Mac’s Primary [Read More]

New Home Sales Took Nice Jump In March

Posted by Patrick Barnard on April 27, 2017

New home sales in March were at a seasonally adjusted annual rate of about 621,000, an increase of 5.8% compared with a revised rate of about 587,000 in February and an increase of 15.6% compared with about 537,000 in March [Read More]

Primary Residential Mortgage Opens New Location In Miami

Posted by Patrick Barnard on April 26, 2017

Primary Residential Mortgage Inc. (PRMI) reports that it has opened a new brick-and-mortar location in Miami. The new location at The Crossings is under the management of Cary Roque-Valdovinos. The team at the new branch has a combined 35 years [Read More]

MBA: Falling Mortgage Rates Caused Surge In Applications For Refinances

Posted by Patrick Barnard on April 26, 2017

A surge in applications for refinances linked to a recent drop in mortgage interest rates caused mortgage application volume to increase 2.7% on an adjusted basis during the week ended April 21, according to the Mortgage Bankers Association’s (MBA) Weekly [Read More]

Optimal Blue Now Integrated With Total Expert’s Marketing/CRM Platform

Posted by Patrick Barnard on April 26, 2017

Optimal Blue, which offers a “digital marketplace” of loan data and analytics, as well as loan pricing and mortgage hedging software solutions, is now integrated with Total Expert Inc., a developer of marketing software for the mortgage and real estate [Read More]

Case-Shiller: U.S. Home Prices Hit All-Time High In February

Posted by Patrick Barnard on April 25, 2017

U.S. home prices increased 0.4% on an adjusted basis in February compared with January and increased 5.8% compared with February 2016, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Not only was it the fourth consecutive month [Read More]

Alterra Home Loans Taps Gerry Fernandez As VP Of Sales

Posted by Patrick Barnard on April 24, 2017

Mortgage industry veteran Gerry Fernandez recently joined Alterra Home Loans, the second-largest Hispanic-owned mortgage company and one of the fastest-growing origination firms, as vice president of sales. Fernandez is a 20-year veteran of the loan origination business. Previously, he was [Read More]

Draper And Kramer Mortgage Hires Leslie Chappel As VP Of Lending

Posted by Patrick Barnard on April 24, 2017

Leslie Chappel, a top-producing mortgage originator in the Louisville, Ky., area, has joined Draper and Kramer Mortgage Corp. (DKMC) as vice president of residential lending. Chappel was DKMC’s first hire in Louisville, where the company recently celebrated the grand opening [Read More]

NAR: Existing-Home Sales Sprung Up In March

Posted by Patrick Barnard on April 21, 2017

Existing-home sales in March reached an annual pace of 5.71 million, up 4.4% from a downwardly revised 5.47 million in February and up 5.9% compared with March 2016, according to the National Association of Realtors (NAR). It was the strongest [Read More]

Housing Starts Fell 6.8% In March; Single-Family Production Down 6.2%

Posted by Patrick Barnard on April 18, 2017

Housing starts in March were at a seasonally adjusted annual rate of 1.215 million, a decrease of 6.8% compared with a revised 1.303 million in February but an increase of 9.2% compared with 1.113 million in March 2016, according to [Read More]

MBA: Applications For Mortgages For New Homes Jumped 23% In March

Posted by Patrick Barnard on April 13, 2017

Applications for mortgages for new home purchases increased 23% in March compared with February and increased 6.7% compared with March 2016, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS). This change does not include any adjustment for [Read More]

NAR: Vacation Home Sales Fell 21.6% In 2016

Posted by Patrick Barnard on April 13, 2017

A lack of affordability and tight supply resulted in a significant decrease in vacation home sales in 2016, a report from the National Association of Realtors (NAR) shows. The firm’s Investment and Vacation Home Buyers Survey shows that vacation home [Read More]

Economists: Weak Jobs Report Not Likely To Impact Housing Market

Written by Patrick Barnard on April 12, 2017

A return of winter weather that affected the construction segment, plus sharp job losses in the retail sector, caused the March jobs report to come in much lower than expected.

Luther Burbank Savings Targets First-Time Home Buyers With ‘Grow’ And ‘Daisy’

Posted by Patrick Barnard on April 11, 2017

California mortgage lender Luther Burbank Savings has pledged to loan $50 million to first-time homebuyers via its popular “Grow” mortgage product and “Daisy” down payment assistance product. “Grow” is a fixed-rate 30-year conventional community mortgage with a down payment option [Read More]

Survey Shows 55% Of Potential Home Buyers Willing To Go Over Budget

Posted by Patrick Barnard on March 24, 2017

A survey of potential home buyers shows that many are willing to go a surprising $37,809 over budget to get into their dream homes. The survey of more than 1,200 consumers conducted by Owners.com shows that more than half (55%) [Read More]

Will Economic Uncertainty Derail The Housing Recovery?

Written by Patrick Barnard on March 23, 2017

Uncertainty in connection with the Trump administration’s policies and proposals is yet to have an impact on consumers’ psyches.

NAR: Existing-Home Sales Dropped 3.7% In February

Posted by Patrick Barnard on March 22, 2017

Low supply in the affordable price range continues to be the “pest” that’s pushing home prices

Single-Family Housing Starts Jumped 6.5% In February

Posted by Patrick Barnard on March 17, 2017

Permit activity shows that the trend is likely to continue into spring.