News Flash

New York’s state government is seeking to expand homeownership opportunities in its upstate metro areas with a new $5 million Graduate to Homeownership Program to help recent college graduates become first-time homeowners
N.Y. Program to Grow Upstate Homeownership by College Grads
New York’s state government is seeking to expand homeownership opportunities in its upstate metro areas with a new $5 million Graduate to Homeownership Program to help recent college graduates become first-time homeowners.   The pilot... Read more
Single-family housing starts in April were at a rate of 835,000, which is 0.4 percent above the revised March figure of 832,000
Sluggish Movement on Housing Starts
Single-family housing starts in April were at a rate of 835,000, which is 0.4 percent above the revised March figure of 832,000, according to data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.... Read more
Consumer credit defaults on first and second mortgages dropped in April, according to data released by the S&P/Experian Consumer Credit Default Indices
Mortgage Default Rates on the Decline
Consumer credit defaults on first and second mortgages dropped in April, according to data released by the S&P/Experian Consumer Credit Default Indices.   The default rate on first mortgages fell from 0.75 percent in March to 0.69... Read more
The national median existing single-family home price during the first quarter was $232,100
Metro Home-Price Growth Up 6.9 Percent in Q1
The national median existing single-family home price during the first quarter was $232,100, a 6.9 percent increase from $217,2000 in the first quarter of 2016, according to new data from the National Association of Realtors (NAR). This is... Read more
Mortgage applications for new home purchases during April dropped by 4.3 percent from one year earlier and plummeted by 20 percent from one month prior, according to the latest Mortgage Bankers Association (MBA) Builder Applications Survey data
Mortgage Applications for New Home Purchases Down in April
Mortgage applications for new home purchases during April dropped by 4.3 percent from one year earlier and plummeted by 20 percent from one month prior, according to the latest Mortgage Bankers Association (MBA) Builder Applications Survey... Read more
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) rose two points in May
Builders Are Really, Really Confident in Housing
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) rose two points in May, the second highest reading since the 2008 downturn.   Two of the three HMI components were up this month: The index charting... Read more
Analysis: The NY Times’ Slam on Homeownership
Yesterday’s print edition of the New York Times Magazine featured the article “How Homeownership Became the Engine of American Inequality” by Matthew Desmond, a Harvard scholar and the author of the Pulitzer Prize-winning “Evicted: Poverty... Read more
San Francisco to Spend $44M on Teacher Housing
San Francisco has committed to spend $44 million to construct homes for its public school employees.   According to a San Francisco Examiner report, Mayor Ed Lee announced that the city will build building 135 affordable units at the... Read more
Finding the Best Markets for First-Time Buyers and Renters
Two new data reports offer strikingly different geographical points of interests for first-time homebuyers and recent college graduates seeking their first rental residences.   Zillow reports that two Florida markets, Orlando and Tampa,... Read more
Mortgage rates were on the rise in Freddie Mac’s latest Primary Mortgage Market Survey (PMMS)
Mortgage Rates Take an Uptick
Mortgage rates were on the rise in Freddie Mac’s latest Primary Mortgage Market Survey (PMMS), which covered the week ending May 11.   The 30-year fixed-rate mortgage (FRM) averaged 4.05 percent, up from last week when it averaged 4.02... Read more