Items Tagged with 'Wells Fargo'


  • Homebuilders are feeling better about the housing market than they have all year

    Thanks to low interest rates and rising demand
    Homebuilder confidence came in at 68 points in September, rising from August's upwardly revised reading of 67, according to the National Association of Home Builders/Wells Fargo Housing Market Index. September's sentiment level now marks the highest reading since October of last year. NAHB Chairman Greg Ugalde said low interest rates and solid demand continue to fuel builders' sentiments even as they continue to grapple with ongoing supply-side challenges.
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  • Wells Fargo, Bank of America, Quicken Loans, others want DTI requirement eliminated from QM lending rules

    Coalition of massive lenders, trade groups call on CFPB to change QM rules
    Four of the largest mortgage lenders in the country are leading a coalition that is calling on the Consumer Financial Protection Bureau to make to changes to the Ability to Repay/Qualified Mortgage rule. Specifically, the group, which includes Bank of America, Quicken Loans, Wells Fargo, and Caliber Home Loans, wants the CFPB to do away with the QM rule’s debt-to-income ratio requirement.
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  • Fannie Mae's Doug Duncan: Lack of inventory is holding housing market back big-time

    Duncan shares thoughts on how to address inventory shortage
    Low mortgage rates have spurred an increase in mortgage applications (although it should be noted that applications have fallen in the last two weeks) and refinances, but despite these gains, America’s home sales remain below historical averages. So, what’s the deal? Well, a lack of housing inventory is one big factor. In an exclusive interview for the season finale of the Housing News podcast, Fannie Mae Chief Economist Doug Duncan explains what's behind the nation's inventory problem.
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  • Americans are brimming with confidence, despite trade wars and recession signs

    "The first half of the movie wasn't that scary," a Wells Fargo economist explains
    You need a lot of confidence to buy a big-ticket item like a home. And, Americans were brimming with assurance this month about the economy and the labor market. The Conference Board’s gauge of present conditions jumped to 177.2 for August, the highest reading in almost 19 years, according to a report on Tuesday. That left a lot of economists scratching their heads.
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  • New home sales fell in July, but there's a silver lining in the clouds

    In July, sales of new homes decline 12.8% to an annualized rate of 635,000
    Sales of new homes fell in July, according to the Census Bureau and HUD. While July’s rate was 12.8% below June, it's important to note that June's figures were upwardly revised to a rate of 728,000 and remains 4.3% higher than a year earlier when it was 609,000. The correction of June's figures is a substantial one. When the data initially came out last month, the report showed that new home sales increase 7% over May. Now, the new data shows that new home sales actually rose by more than 20% in May.
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  • Homebuilder optimism rises in August, but not enough to dispel affordability concerns

    Builder sentiment rises one point to 66 in August
    Although homebuilder confidence rose one point to 66 in August, market affordability continues to threaten future growth, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chairman Greg Ugalde said even as builders report a firm demand for single-family homes, they continue to struggle with rising construction costs stemming from excessive regulations, a chronic shortage of workers and a lack of buildable lots.
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  • Homebuilder confidence rises slightly, but cost concerns threaten future growth

    Builder sentiment inches forward one point to 65 in July
    Although homebuilder confidence inched forward one point to 65 in July, many builders still report rising construction costs as a major cause of concern, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chief Economist Robert Dietz said while the current low mortgage interest rate environment should be getting more buyers off the sidelines, they remain hesitant due to affordability concerns.
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  • Redfin: A lack of housing supply is slowing home-sale growth

    In May, home sales rose only 2.5% from the previous year
    In May, home-sale growth continued to lag, highlighting a slowdown in inventory, according to new data from Redfin. Redfin Chief Economist Daryl Fairweather said although recent surges in mortgage applications reflect heightened homebuyer demand, a lack of inventory continues to prevent growth.
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  • Homebuilder confidence weakens as cost concerns mount

    Builder sentiment slides two points to 64 in June
    As cost and labor concerns continue to grow, homebuilder confidence retreated to 64 points in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chairman Greg Ugalde said while demand for single-family homes remains sound, builders continue to report rising development and construction costs, with some additional concerns over trade issues.
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