Cash, Distressed Sales Closing in on "Normal"

Posted To: MND NewsWire

The end is near. CoreLogic said today that the market share of home sales accounted for by distressed properties may return to normal levels by the end of this year. This is about a half year earlier than the company had been predicting as recently as last month. Distressed homes sales accounted for 7.5 percent of home sales in November with sales of bank-owned property (REO) accounting for 4.9 percent and short sales 2.6 percent. The total distressed property share was down 4.3 percent compared to November 2015 and was the lowest for any month since September 2007. At the peak for distressed sales in January 2009, they accounted for 32.4 percent of the market with REO sales making up 27.9 percent. Prior to the housing crisis distressed sales usually accounted for about 2 percent of all home…(read more)

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Cash, Distressed Sales Closing in on "Normal"
Cash, Distressed Sales Closing in on "Normal"

Black Knight's HPI Holds on to Late Year Gains

Posted To: MND NewsWire

Black Knight Financial Services reported on Monday that its Home Price Index posted another 5.7 percent annual increase in the national rate of appreciation. Over the course of 2016 prices rose on a year-over-year basis by an average of 5.4 percent each month, however appreciation accelerated into the later months and the December increase tied with November for the highest rates of the year. The November to December gain was 0.1 percent, down from the 0.2 percent rate in each of the previous two months. Home prices in four of the nation’s 20 largest states, Massachusetts , New York, North Carolina, and Washington , hit new peaks as did seven of the 40 largest metropolitan areas. The highest rate of monthly appreciation among the states, 1.2 percent, was again in New York which has led for…(read more)

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Black Knight's HPI Holds on to Late Year Gains
Black Knight's HPI Holds on to Late Year Gains

Home Price Appreciation Highest in 30 Months -Case-Shiller

Posted To: MND NewsWire

Home prices accelerated their growth again in December. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, rose by 5.8 percent compared to one year earlier. In November the gain over the previous 12 months was 5.6 percent. The year-over-year increase has been larger each month since July and Case-Shiller called the annual December number the largest increase in 30 months. On a monthly basis, the National Index rose 0.2 percent before seasonal adjustment and was up 0.7 percent after. The 10-City Composite Index rose 4.9 percent on an annual basis compared to 4.4 percent in November while the 20-City Composite reported a year-over-year gain of 5.6 percent, up from 5.2 percent in November. Among the 20 cities the largest annual gains…(read more)

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Home Price Appreciation Highest in 30 Months -Case-Shiller
Home Price Appreciation Highest in 30 Months -Case-Shiller

Training and Events Ranging From Cybersecurity to Taking an App; ECOA Legal Opinion

Posted To: Pipeline Press

The last day of February, already? Wasn’t it just New Years? Time flies by, things progress. Yesterday the Chamber of Digital Commerce, the world’s largest trade association representing the blockchain industry, and the Structured Finance Industry Group (SFIG) announced the formation of a strategic partnership focused on advancing the use of blockchain technology in securitization markets . Heck, I barely know how a simple battery works… Upcoming events, training, conferences, webinars, and the like, in no particular order: A free webinar titled, ” The NY Cybersecurity Regulation – How It Impacts You and Your Company” is being held this Friday, 3/3, at 1PM ET. On March 1, the New York State Cybersecurity regulation goes into effect. “This first-in-the-nation cybersecurity regulation…(read more)

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Training and Events Ranging From Cybersecurity to Taking an App; ECOA Legal Opinion
Training and Events Ranging From Cybersecurity to Taking an App; ECOA Legal Opinion

Fed's Kaplan: Taking steps to remove accommodation

[View:http://video.cnbc.com/gallery/?video=3000596955&__source=mnd|news|video|&par=mnd]

Dallas Fed President Robert Kaplan talks to CNBC's Steve Liesman about the way the Fed is thinking about rate hikes.

…(read more)

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Fed's Kaplan: Taking steps to remove accommodation
Fed's Kaplan: Taking steps to remove accommodation

MBS Day Ahead: More Econ Data and "Month-End," But Trump Speech Looms

Posted To: MBS Commentary

Today is the last day of February. 'Month-end' is different than other days for bond markets because it serves as a deadline for money managers to match their holdings with various indices. Long story short, when a particular fund says it holds x% of US Treasuries, the fine print typically stipulates that those Treasuries have an average duration based on an index. The index's main purpose is to track the overall Treasury market , thus allowing money managers a no-brainer decision when it comes to adjusting their mix of long/short duration bonds. MBS Live members can read the more detailed primer HERE . Month-end usually has a moderately positive effect, all other things being equal. That said, we began to discuss early potential month-end buying as one of the sources of last Friday's…(read more)

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MBS Day Ahead: More Econ Data and "Month-End," But Trump Speech Looms
MBS Day Ahead: More Econ Data and "Month-End," But Trump Speech Looms

Inventory Stifling Best Housing Demand in Years; Rates Rise; Property Tax Estimates Need Improvement

Tight inventories are again being blamed for a downturn in home sales, this time January’s ones. The National Association of Realtor’s® (NAR’s) Pending Home Sale Index (PHSI) declined by 2.8 percent from December, reaching the lowest level in a year. The PHSI is a forward-looking indicator based on signed contracts for home purchases. Those contracts are generally expected to turn into completed sales in about 60 days. The January PHSI dipped to 106.4 from an upwardly revised 109.5 in December. The December index had originally been reported at 109.0. The index remains 0.4 percent higher than it was in January 2016, but is at the lowest level since then. This index is beginning to exhibit the same kind of volatility that has marked new home sales in recent months. The index gained 1.6 percent
Inventory Stifling Best Housing Demand in Years; Rates Rise; Property Tax Estimates Need Improvement
Inventory Stifling Best Housing Demand in Years; Rates Rise; Property Tax Estimates Need Improvement

MBS RECAP: Range Holds as Risk Appetite Returns

Posted To: MBS Commentary

Several events helped get investors back in a riskier mood to begin the new week. Overnight reports of the "status quo" candidate polling better in the French election helped the momentum get underway. During domestic hours, economic data was weaker overall, but generally ignored in favor of political headlines. Specifically, President Trump said he had big news on infrastructure spending to share at tomorrow's much-anticipated "address before the joint session of Congress" (in other words, don't call it a "state of the union" address). Dallas Fed President Kaplan added to the momentum when he offered his thoughts on the Fed's next rate hike . While he didn't come right out and say "March," he may as well have. Bonds were under steady…(read more)

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MBS RECAP: Range Holds as Risk Appetite Returns
MBS RECAP: Range Holds as Risk Appetite Returns

Mortgage Rates Slightly Higher

Posted To: Mortgage Rate Watch

Mortgage rates moved slightly higher after a strong run to the lowest levels of the year as of last Friday. In general, financial markets moved toward safer investments (like bonds) heading into the weekend. When demand for bonds increases, rates move lower. As the new week got underway, market participants warmed back up to the notion of risk, thus undoing some of the positivity from late last week. Investors are curious to hear what President Trump has to say at his “address of the joint session” tomorrow night , especially after today’s promise that there would be big announcements on infrastructure spending. Markets have been eager to get more clarity on fiscal programs. If the details are well-received, we could continue to see more momentum toward risk, and rates could continue to move…(read more)

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Mortgage Rates Slightly Higher
Mortgage Rates Slightly Higher

Home buyers flock to Los Angeles open house

[View:http://video.cnbc.com/gallery/?video=3000596667&__source=mnd|news|video|&par=mnd]

The spring housing rush has officially begun out in the west, amid a time where housing supply is not meeting its demand. CNBC's Diana Olick reports.

…(read more)

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Home buyers flock to Los Angeles open house
Home buyers flock to Los Angeles open house