News Flash

Renters will need to raise their incomes by an average of $168 a year to keep up with expected rent increases over the next 12 months
Zillow: Renters Will Need to Earn More to Cover Housing Costs
Renters will need to raise their incomes by an average of $168 a year to keep up with expected rent increases over the next 12 months, according to a new forecast from Zillow, which added that median rent prices are predicted to be $1,420... Read more
A federal judge has issued a ruling that stated LGBT people were covered by the Fair Housing Act
Court Rules Fair Housing Act Protects LGBT Community
A federal judge has issued a ruling that stated LGBT people were covered by the Fair Housing Act, even though the law makes no specific mention of sexual orientation or gender identity.   According to a Washington Post report, Judge U.S.... Read more
Last year saw $490.6 billion in commercial and multifamily mortgages, according to new data from the Mortgage Bankers Association (MBA)
$490.6B in Commercial/Multifamily Mortgages During 2016
Last year saw $490.6 billion in commercial and multifamily mortgages, according to new data from the Mortgage Bankers Association (MBA).   Multifamily properties recorded the highest origination volume at $214.1 billion, followed by office... Read more
Property taxes levied on single-family homes during 2016 totaled $277.7 billion, which averaged $3,296 per home and an effective tax rate of 1.15 percent, according to new statistics from ATTOM Data Solutions
2016 Property Taxes Totaled $277.7B
Property taxes levied on single-family homes during 2016 totaled $277.7 billion, which averaged $3,296 per home and an effective tax rate of 1.15 percent, according to new statistics from ATTOM Data Solutions.   The average annual property... Read more
the Mortgage Bankers Association (MBA) announced that its Mortgage Credit Availability Index (MCAI) increased 3.2 percent to 183.4 in March
Fixed-Rate Mortgages Drop, Availability Rises
It was another week of declining fixed-rate mortgages (FRM), according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) for the week ending April 6.   The 30-year FRM averaged 4.10 percent, down from last week when it averaged 4.14... Read more
Delinquencies on closed-end loans related to housing rose during the fourth quarter of 2016, according to the latest American Bankers Association’s (ABA) Consumer Credit Delinquency Bulletin
Home-Related Delinquencies Mostly Up in Q4 2016
Delinquencies on closed-end loans related to housing rose during the fourth quarter of 2016, according to the latest American Bankers Association’s (ABA) Consumer Credit Delinquency Bulletin.   Home equity loan delinquencies during the... Read more
Millennials are not known to sit around and wait for things to happen
Closing Times for Millennials’ Mortgages Becomes Faster
Millennials are not known to sit around and wait for things to happen, and that need for speed appears to extend to their home loan originations.   The closing time for the mortgages of Millennial borrowers decreased to 44 days, the... Read more
An appearance by Consumer Financial Protection Bureau (CFPB) Richard Cordray today before the House Financial Services Committee
Anger and Adoration Directed at Cordray in Congress
An appearance by Consumer Financial Protection Bureau (CFPB) Richard Cordray today before the House Financial Services Committee brought out some of the roughest insults and the sweetest praise ever bestowed on a federal regulator.   First... Read more
Today’s home sellers are facing an interesting dilemma: Where can they buy a new residence
Home Sellers Face Challenge in Buying New Residences
Today’s home sellers are facing an interesting dilemma: Where can they buy a new residence?   In a survey of 800 real estate agents working with the Redfin brokerage, 65.6 percent of respondents said that low inventory was the greatest... Read more
March went out with a whimper instead of bang, at least in terms of home loan application activity
Dull Activity in Latest Mortgage Applications Data
March went out with a whimper instead of bang, at least in terms of home loan application activity.   According to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 31, the Market Composite... Read more