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Trends

New Credit for Revolving Home Equity Loans Rises More Than 21 Percent Year-Over-Year

Home Block Wood/Credit: Phil Ashley

Equifax has announced its latest National Consumer Credit Trends Report, the total balance of new credit for revolving home equity loans year-to-date in July 2014 is $65.9 billion, a six-year high and a year-over-year increase of 21.4 percent.Click to continue

Commercial/Multifamily Mortgage Debt Outstanding Rises in Q2

Commercial and Multifamily Property

According to the Mortgage Bankers Association (MBA), the level of commercial/multifamily mortgage debt outstanding increased by $24.9 billion in the second quarter of 2014, as three of the four major investor groups increased their holdings.Click to continue

U.S. Housing Production Rises 6.3 Percent in September

Housing Rise/Credit: Comstock Images

For the third time this year, nationwide housing starts surpassed the million-mark, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Total housing production in September rose 6.3 percent to a seasonally adjusted annual rate of 1.017 million units.Click to continue

Multifamily Lending Hits New Record Levels

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In 2013, 2,898 different multifamily lenders provided a total of $172.5 billion in new mortgages for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association (MBA). The 2013 dollar volume represents an 18 percent increase from 2012 levels.  Sixty-two percent of the active lenders made five or fewer multifamily loans over the course of the year.Click to continue

Fixed-Rates Hit Lowest Mark Since June 2013

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates hitting new lows for the year as 10-year bond yields briefly dipped below two percent. At 3.97 percent the average 30-year fixed rate is at its lowest level since the week of June 20, 2013 when it averaged 3.93 percent. This was also the last time the 30-year fixed averaged below four percent in the PMMS until this week.Click to continue

HUD Housing Survey Finds Neighborly Help Alive and Well

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Roughly half of all American households report getting along with their next door neighbors and are willing to lend a helping hand if needed. That’s among the findings of the 2013 American Housing Survey being released by the U.S.Click to continue

Cash Sales Comprise 33 Percent of Total Sales in July 2014

Cash Money/Credit: Adam Gault

Cash sales made up 32.9 percent of total home sales in July 2014, the lowest share since August 2008, and down from 35.9 percent in July 2013. Month over month, the cash sales share was mostly flat, falling only one tenth of a percentage point from June 2014, however, cash sales share comparisons should be made on a year-over-year basis due to the seasonal nature of the housing market.The year-over-year share has fallen each month since January 2013.Click to continue