Real Estate

New home construction slowly gains ground

But total housing starts drop in April
New home construction increased slightly in April, while a drop in the multifamily sector caused housing starts to fall. But despite this slight increase, housing experts are not impressed and explained new construction is lagging significantly behind its historic averages.
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Fannie Mae to jettison 11,000 non-performing loans

GSE wants to offload roughly $1.84 billion in unpaid balance
Fannie Mae announced plans to jettison $1.84 billion in non-performing loans, a small portion of which are from its thirteenth Community Impact Pool, a small pool for marginalized or small investors. According to a release from Fannie, there are 11,000 NPLs up for sale, and of those, 700 are from its Community Impact Pools.
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Homebuilders see boost in confidence in May

Builder confidence increases two points
Homebuilder confidence rose two points to 70 in May after a downwardly revised April, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. The tough break is what everyone has been talking about lately: rising building costs are making it nearly impossible to meet the demand for reasonably priced starter homes.
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Loan Officers: Your social proof is capital you can't afford to lose

What is social proof and why you should care
[Commentary] Have you heard of social proof? If not, I don't blame you. It is a term that wasn't all that common 18 months ago but is now becoming a popular buzzword, with good reason. Social Proof is paramount if you want to grow your business in the internet economy and connect with the modern consumer.
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The mixed property bag for Bridgeport-Stamford-Norwalk

Connecticut's largest MSA is rising in value as it drops slightly in population
The Bridgeport MSA is by no means a poor area. Per capita income is $52,344, about 25% higher than its state, which is $41,087 and 150% that of the average for the nation, which is $31,128. Its median household income of $90,123 is also about 25% higher than Connecticut's as a whole and roughly 1.5 times that for the U.S.
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Monday Morning Cup of Coffee: Federal Reserve Board to vote on lifting Wells Fargo’s growth restrictions

Plus St. Louis Fed President James Bullard says further rate increases aren’t necessary
Following pressure from Sen. Elizabeth Warren, Federal Reserve Chair Jerome Powell has indicated that the Fed's Board of Governors will hold a vote to decide whether or not to lift growth restrictions placed on the megabank. Plus, here's why Capital One putting a stop to mortgage lending is good for its investors.
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