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Sales

Wells Fargo Named Top Commercial/Multifamily Originator in 2013

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According to a set of commercial/multifamily real estate finance league tables prepared by the Mortgage Bankers Association (MBA), Wells Fargo; JP Morgan Chase & Company; Bank of America Merrill Lynch; Eastdil Secured; KeyBank; PNC Real Estate; HFF LP; Meridian Capital Group LLC; CBRE Capital Markets; and Prudential Mortgage Capital Company were the top commercial/multifamily mortgage originators in 2013.Click to continue

UFA House Price Forecast Shows Q1 Improvement

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UFA released its five-year nominal house price forecast for the first quarter of 2014. Future prospects for the housing market improved again this quarter. The five year forecast for the UFA 100 city composite is now 25.1 percent, up from 22.4 percent last quarter. Prospects for the 10 large cities in the Case-Shiller 10 index (CS10) are somewhat weaker with only a 13.1 percent increase forecast.Click to continue

Yellen's Comments Scare Mortgage Rates Up to 4.40 Percent

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates up a bit from last week, as the 30-year fixed-rate mortgage (FRM) averaged 4.40 percent with an average 0.6 point for the week ending March 27, 2014, up from last week when it averaged 4.32 percent. A year ago at this time, the 30-year FRM averaged 3.57 percent. Also this week, the 15-year FRM averaged 3.42 percent with an average 0.6 point, up from last week when it averaged 3.32 percent.Click to continue

Las Vegas-Area Home Sales Drastically Slow in February

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Las Vegas-area homes sold at the slowest pace for a February in five years as the inventory of homes for sale remained tight and some buyers faced credit and affordability challenges. The median price paid for a home edged up from January and rose 24 percent from a year earlier, marking the 16th consecutive month with an annual gain over 20 percent, according to San Diego-based DataQuick. In February, 3,230 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County).Click to continue

Pending Home Sales Drop for Eighth Straight Month in February

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Pending home sales declined for the eighth straight month in February, according to the National Association of Realtors (NAR). Modest increases in the Midwest and West were offset by declines in the Northeast and South; all regions are below a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, dipped 0.8 percent to 93.9 from a downwardly revised 94.7 in January, and is 10.5 percent below February 2013 when it was 104.9. The February reading was the lowest since October 2011, when it was 92.2.Click to continue

Average National Interest Rates Drop 0.07 Percent in February

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National data shows interest rates on mortgages decreased in February. Contract mortgage interest rates decreased 0.07 percent from January to February, according to an index of new mortgage contracts.Click to continue

FHFA: U.S. Home Prices Rise 0.5 Percent in January

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U.S. house prices rose in January, with an increase of 0.5 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The seasonally adjusted purchase-only index for the U.S. has shown increases for 23 of the last 24 months, beginning with February 2012. The November 2013 HPI was the exception, with a decrease of 0.1 percent. The previously reported 0.8 percent increase in December was revised downward to reflect a 0.7 percent increase.Click to continue

Mortgage Apps Dip 3.5 Percent Over Last Week

Home for Sale/Credit: Comstock

Mortgage applications decreased 3.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 21, 2014. This week's results are compared to a revised level from last week. The seasonally adjusted market index, initially reported as a decline of 1.2 percent, was revised to an increase of 0.2 percent.Click to continue

HSH.com: Yellen's QE Comments Force Rates Up to 4.46 Percent

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Rates for the most popular types of mortgages increased a bit according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by five basis points (0.05 percent) to 4.46 percent. Conforming 5/1 Hybrid ARM rates increased seven basis points (0.07 percent), closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.18 percent.Click to continue