Homeowners

Trulia: Home price cuts reach 4-year high

In August 17.2% of U.S. listings had a price cut, up from 16.7% the previous year
The latest data from Trulia reveals that U.S. listings with a price cut increased to the highest level since 2014. Trulia Housing Economist Felipe Chacon said buyers should be encouraged by the signals in the market, however not every buyer will benefit equally.
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Hurricane Michael may prevent thousands of mortgages from closing

ClosingCorp: More than 1,600 pending transactions are in jeopardy
An estimate by real estate data provider ClosingCorp reveals that more than 1,600 pending mortgage transactions are in jeopardy as a result of the devastating impact of Hurricane Michael. The Category Four storm may affect more than $400 million in loans as residents and lenders grapple with the damage left behind in Michael’s wake.
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Freddie Mac: Mortgage rates reach 7-year high

Escalating home prices putting downward pressure on purchase demand
After weeks of climbing, mortgage rates have now risen to their highest level in seven years, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater said down payments are the primary hurdle for many borrowers, and that's affecting sales high-priced markets.
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ATTOM: Foreclosure activity falls to lowest level since 2005

Only 177,146 U.S. properties listed as foreclosures
There was a significant decrease in foreclosures at the end of the third quarter of 2018, according to ATTOM Data solutions latest Foreclosure Market Report. Notably, only 177,146 U.S. properties were listed as foreclosures, marking a nearly 13-year low.
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HUD awards $47 million grant to housing counseling agencies

Funding is crucial to success of reverse mortgage program
The U.S. Department of Housing and Urban Development announced Wednesday that it has awarded $47 million in housing counseling grants. Some of the grant money went to agencies that offer reverse mortgage counseling, and the influx of cash will be crucial to keeping them in business and keeping the HECM program alive.
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MBA: Mortgage applications return to decreasing trend

5/1 ARMs reach highest level in series history
Mortgage applications returned to their decreasing trend for the week ending October 5, 2018, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Notably, the average contract interest rate for 5/1 ARMs reached its highest level in series history this week.
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Redfin hires behavioral economist from Amazon

Daryl Fairweather joins real estate brokerage
Real estate brokerage Redfin announced Daryl Fairweather has joined the company as its chief economist. The company explained that Fairweather, who joins the company from Amazon, will work closely with Redfin's business leaders and agents to better understand the behavior and mindset of homebuyers and sellers.
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WSJ: Google exposed user data and didn't tell anyone about it

Google cited no record of data "misuse" as its justification for silence
Anonymous sources at Google revealed that the digital titan exposed the private data of hundreds of thousands of Google+ users and withheld the information regarding its slip-up for fear of public backlash, according to The Wall Street Journal. A software glitch in the social site gave outside developers potential access to private Google+ profile data between 2015 and March 2018.
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Fannie Mae: Homebuyer sentiment falls slightly in September

The HPSI decreases 0.3 percentage points to 87.7
Mortgage rates and household income contributed to a slight decrease in homebuyer sentiment, according to the latest data from by Fannie Mae’s Home Purchase Sentiment Index. Fannie Mae Senior Vice President and Chief Economist Doug Duncan said perceptions of high home prices and expectations for rising mortgage rates continue to weigh on potential homebuyers.
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