California Home Sales Up 17.3 Percent in July

August 21, 2013

An estimated 48,118 new and resale houses and condos sold statewide in California in July, up 17.3 percent from 41,027 in June, and up 21.8 percent from 39,507 sales in July 2012, according to San Diego-based DataQuick. July’s sales count was the highest for any month since 51,054 homes sold in August 2006. It was […]

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Mortgage Rates Recover Moderately Before Fed Meeting Minutes

August 20, 2013

Mortgage rates moved lower today, recovering a good portion of yesterday’s losses. There were no significant economic events and much of the positivity for rates was a factor of overnight trading in Asia and Europe. In short, the correction is just that–something that wouldn’t have existed without recent sharp moves higher. After moving up to […]

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California’s Eminent Domain Fight Knocks on Wells Fargo’s Door

Last week, issues of eminent domain popping up in the California city of Richmond made headlines, as a private investment firm called Mortgage Resolution Partners began working with the local government to seize property in an effort to purchase bonds for low cost and proceed with inflated loan sales. “Mortgage Resolution Partners has led the […]

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Mortgage Rates Highest in More Than Two Years

Mortgage rates were convincingly higher yesterday, continuing last week’s move toward the levels not seen in over two years. Those levels were reached by some lenders yesterday as they rose above July 5th’s highs, while others aren’t quite there yet. On average, yesterday’s rates are slightly higher than July 5th, but only by a small […]

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California Housing Recovery Continues Full Throttle

August 16, 2013

Home sales in California surged by 17.3 percent in July DataQuick said today, rising from 41,027 sales of new and existing houses in June to 48,118 in July. The San Diego based company reported that July sales were 21.7 percent higher than 12 months earlier and were the highest for any month since August 2006. […]

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Affordability Lowest Since 2008 in California

August 12, 2013

The affordability of California homes is dropping rapidly as prices continue to soar and now higher interest rates are compounding the problem. The California Association of Realtors® (C.A.R.) reported today that its Home Affordability Index (HAI) dropped 8 percentage points from the first quarter of 2013 to the second

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Huge Spike in Delinquencies Chalked up to Seasonal Factors

August 5, 2013

The headline news from the Lender Processing Services (LPS) Mortgage Monitor Report for June, that early mortgage delinquencies had surged 10 percent during the month, was released two weeks ago in LPS’s regular “first look” at its monthly data. The full report, released this morning, added some details to that announcement. The sudden increase, which […]

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Zillow: Fixed Rates Back Down to 4.26 Percent

July 16, 2013

The 30-year fixed rate mortgage (FRM) on the Zillow Mortgage Marketplace is currently 4.26 percent, down 15 basis points from 4.41 percent at this time last week. The 30-year FRM hovered between 4.38 and 4.45 early last week, peaking at 4.48 last Thursday before declining near the current rate early this week.

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1.2 Million Permanent Loan Mods Granted Through HAMP

July 13, 2013

The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the June edition of the Obama Administration’s Housing Scorecard. Data continue to show signs that the housing market is strengthening, with home prices continuing to rise and new and existing home sales remaining strong, although officials caution […]

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