New home sales maintained a downward trajectory in December, falling 7% below November’s revised rate of 445,000 unit sales to a seasonally adjusted annual rate of 414,000 units. But this is still 4.5% above year earlier levels.
Foreclosures and short sales remained relatively frozen in December, with U.S. residential properties, including single-family homes, condominiums and townhomes, selling at an estimated annual pace of 5.16 million in December, a less than 1% increase from November and a 10% increase from a year ago, the latest RealtyTrac report found.
Tight inventory and escalating home prices are putting a squeeze on California's housing market, but stabilizing prices may eventually grease the wheels, giving home buyers momentum to step up their game.
Despite overall improvement in the 2013 jobs market, the financial sector took a beating this past year, becoming the industry where employers cut the most. The sector recorded 60,962 job cuts for 2013, up 49% from 41,008 in 2012.
One by one, they filed into the city council chambers. They took their seats and waited their turn, and once there weren’t any seats left, they moved to the seldom-used overflow seating. When the overflow seating filled, they moved to the civic center so they could watch the meeting on a closed-circuit feed..
It’s a new world, and in this new world, data is more crucial than ever. Getting the best data possible, and then being able to interpret that data to improve performance, will be a competitive edge that no company in the mortgage finance space can do without in the current environment of volume contraction. Read More
Only seven or eight years ago, mortgage fraud was one of the top stories in the industry. It was quite common to see stories estimating losses in the millions, with some experts suggesting that these numbers were only the tip of the iceberg. Lenders and their partners scrambled to strengthen their fraud-prevention strategies. Read More