A composite index of 25 major US metropolitan markets showed a 1.2% increase in house prices in April.
Radar Logic's 25-MSA (metropolitan statistical area) RPX index showed the largest monthly increase since June 2007. The composite remains 20% below its year-ago level, however, and overall has plunged 32% below its peak.
Foreclosure sales continued to drive price declines and fueled an increase in sale transactions in key local markets across the nation during August, according to data released Friday by Radar Logic Inc., a New York-based real estate data and analytics company.
There are motivated home sellers, and then there are motivated home sellers. In this market, that term has taken on new meaning, capturing sales made under borrower duress as well as institutional sellers looking to sell off REO properties in an effort to clear their books. And the number of motivated sellers, by most accounts, has been growing pretty dramatically, pretty much in tandem with declining property values and mushrooming foreclosure totals.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More