Friday , 2 June 2017
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Housing Finance

First Timers Fade Away

The overall market share of single buyers declined from 32 percent in 2010 to 25 percent in both 2012 and 2013. First-time home buyers slipped to a 38 percent market share in the past year from 39 percent in a preview of NAR’s 2013 Profile of Home Buyers and Sellers. Read More »

Tight Lending Standards Slow the Economy

Changes in lending standards by banks, undertaken to reduce their risk and preserve capital, have huge, macroeconomic effects on the economy. Not are not only restricting credit, they simultaneously reduce the demand for credit by businesses homeowners, even creating credit shocks that impact GDP. However, banks loosen standards to create a competitive advantage in the marketplace according to a new study by economists at the Federal Reserve. Read More »

Four in Five Mortgages Seen Failing QM Rule

Only about 20 percent of today’s mortgage applications will pass muster with the new QM rule that takes effect January 10, according to a leading software platform used by lenders to comply with the Dodd-Frank Act and other federal rules and regulations covering mortgage lending. Read More »

New Mortgages Rise 10 percent

Mortgage originations have increased by 10 percent from a year ago, a gain not quite as large as existing home sales. More important, a look at the most recent completed quarter shows a 29 percent increase in home purchases from the prior quarter and a decrease in the number of refinances, suggesting a sustained recovery is beginning to come from purchases, Experian reported. Read More »

Purchase Loans Soar

Lending standards? What lending standards? Purchase loans are soaring as home buyers outmuscle refinancing home owners in the pursuit of mortgage credit. Read More »

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