In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses mortgage rates. As expected, the average 30-year fixed … [Read more...]
FHA’s Permanent MI Policy: Clever, but Still a Problem
When it was announced that the Federal Housing Administration would extend its mandatory monthly mortgage insurance premiums to a minimum of 10 years up to as long as the life of its 30-year loans depending on the size of the down payment, many … [Read more...]
Mortgage Credit Lags Consumer Credit Recovery
Consumer credit has been recovering, but mortgage lending continues to lag. Data from the Federal Reserve Board shows that consumer credit debt is now higher than it was before the recession, while mortgage debt continues to decline. Based on … [Read more...]
Current Confidence Index for Single-Family Homes Steady
The majority of REALTORS® continued to report rising home prices and improving days on the market. However, REALTORS® reported that the market remains hampered by a “demanding and rigid loan qualification process” that has made mortgage … [Read more...]
Housing Starts, Mortgage Purchase Applications
In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses housing starts and mortgage purchase applications. There … [Read more...]
