Urban Institute: Qualified Mortgage impact overblown

Urban Institute: Qualified Mortgage impact overblown

New rules have only slightly slowed mortgage lending

WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

Kovacevich says fine is political and has “nothing to do with justice”

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch
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Real Estate

Homeownership becomes an elusive dream as affordability tumbles

Brena Swanson
Homeownership is now an elusive goal for many. Currently, the median-income household can only afford the average priced home in eight of the 25 largest metropolitan areas.
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Home prices hit 19-month stride

Appreciation is a boon for consumer confidence and distressed borrowers
Christina Mlynski
Housing is continually gaining momentum with home prices rising for the 19th consecutive month in August.
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DataQuick: California foreclosure starts continue to drop

Reach their second-lowest level since 2006
Brena Swanson
The number of homeowners entering the foreclosure process in California last quarter fell to the second-lowest level in seven and a half years, a new report from analytics firm DataQuick claims.
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Freddie Mac tempers housing economy outlook

Home construction dips after sharp rebound
Brena Swanson
Housing construction sustained positive momentum over the summer, but Freddie Mac predicts only moderate fourth-quarter growth, as homebuilders struggle through uncertain economic times.
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Lull in employment may extend Fed tapering until 2014

Poor employment prospects sideline young adult buyers
Christina Mlynski
Unemployment did fall to a five-year low in September, but it's unlikely to reach the 6.5% benchmark that's considered the trigger for a substantive pullback in Fed intervention.
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Nation added only 148,000 jobs in September

Kerri Ann Panchuk
The unemployment situation stayed mostly unchanged in September with the unemployment rate hovering at 7.2% and 148,000 jobs added to the payrolls, the Labor Department said Monday.
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Jumbo loan availability lifts Chicago housing

Prices, home sales rise as the product stages a comeback
Kerri Ann Panchuk
Lower conforming loan limits made it difficult for move-up buyers in Chicago to access loans in the wake of the housing meltdown, but that all changed in 2013 when the jumbo loan product returned to the market.
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Existing-home sales slip from four-year high

Affordability hits five-year low
Brena Swanson
Existing-home sales slipped in September after posting their highest level in nearly four years, the National Association of Realtors reported.
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Housing market simmers down

HousingWire Staff
Home values are finally starting to cool off, as the pace at which home prices are rising subsides.
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10 veteran households receive mortgage-free homes

$300,000 donated for the cause
Ten wounded veterans and their families received over $300,000 in donations to cover mortgage-free homes.
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