True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbor

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

Fraud risk factors at closing increased almost 90% last quarter

A variety of risk factors could be contributing to the drastic increase in wire and title fraud risk factors in mortgage and real estate closings – for example, compliance issues and an increase in transaction data errors.

MortgageReal Estate

Freddie Mac: 2016 will be housing’s best year in a decade

Mortgage rates remains low, housing prices will rise

Freddie Mac predicts total home sales, housing starts and house prices will continue to rise this year, reaching their highest point since 2006, according to its March Outlook that was released today.

Freddie Mac does not expect inventory and affordability challenges keep the market from reaching its highest level. It also expects the 30-year mortgage to remain below 4% throughout the home buying season, until the second half of the year.

"Housing markets are poised for their best year in a decade,” Freddie Mac Chief Economist Sean Becketti said. “Low mortgage rates, robust job growth and a gradual increase in housing supply will help drive housing markets forward.”

The forecast shows that multifamily and single-family housing starts will increase by 200,000 units to 1.3 million in 2016. Whereas home prices increased by 6% in 2015, the forecast shows that 2016 will increase at a slower rate of 4.8%.

Mortgage originations will also increase, according to the forecast, by $70 billion, bringing the total to $1,650 trillion die to higher expected house prices.

“Low levels of inventory for-sale and for-rent and declining housing affordability will be major challenges, but on balance the nation's housing markets should sustain their momentum from 2015 into 2016 and 2017," Becketti said. 

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