Sales of new single-family houses in May 2015 came in earlier this week at a seasonally adjusted annual rate of 546,000, which is up 2.2% from April, and on an annual basis, were up a staggering 19.5%. Sounds like a sign of strength, right? Not so much, when you peel back the layers. Want to know more?
Sales of new single-family houses in April 2015 were at a seasonally adjusted annual rate of 517,000, a gain driven by home sales in the Midwest even as the Northeast and West regions continue to drag. Here are the details.
Sales of new single-family homes in March 2015 tumbled back down after last month's positive news that the market was ready for this year's spring buying rush. However, looking at analyst comments, the news isn't as bad as it may appear.
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry..
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.” Read More