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  • Gamechanger: Zillow getting into home selling business with "instant offers"

    In many ways, Zillow was one of the leaders in the online real estate revolution, helping to democratize the home buying process and enabling prospective buyers to search for their next home from the comfort of their current home. And now, Zillow wants to revolutionize the way that people sell their homes as well, as the online real estate giant announced this week that it is launching a pilot program called “Zillow Instant Offers.” Click the headline to read more.

Freddie Mac purchases, issuance up 33%

Total mortgages purchased and securities issued by Freddie Mac reached $27.7 billion in August, up 33% from the previous month and the highest increase since September 2010. Purchases and issuance rose to the highest level since February, according to the government-sponsored enterprise's monthly summary report released Friday. The increase in August offset the drop measured the previous month. The increased activity reflects a boost in home sales in the same month, according to the National Association of Realtors. Freddie's guarantee book of business stayed essentially flat at $1.69 trillion in August after dropping below $1.7 trillion in July. It remains at the lowest level measured since October 2007. The single-family serious delinquency rate of 90 days or more dropped to 3.49% in August. In July, it increased for the first time in 10 months. The August rate is the lowest since September 2009, and the rate hasn't been below 3% since July 2009. Freddie continued to trim its mortgage-related investment portfolio in August, dropping it to $680 billion, down $3 billion from the prior month. Under the conservatorship agreements established in September 2008, the Treasury Department capped this portfolio at $900 billion at the end of 2009 and scheduled it to be wound down by 10% each year, reaching $250 billion by 2018. Write to Jon Prior. Follow him on Twitter @JonAPrior.

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