The Mortgage Leader, Nov. 28, 2018House prices rose 1.3 percent in the third quarter of 2018, according to the Federal Housing Finance Agency House Price Index. House prices rose 6.3 percent from third quarter 2018 to third quarter 2017.
Category: Top National News
Freddie Mac Reveals ‘Biggest Unknown’ for Housing in 2019
HousingWire, Nov. 28, 2018–Kelsey RamirezThe biggest unknown for housing in 2019 are the current negative trends, according to Freddie Mac’s forecast. These trends include lack of housing supply, and whether that will persist and/or rising interest rates and if the market will adjust to the shock and resume its modest growth.
U.S. Third-Quarter Growth Unrevised, Headwinds Increasing
Reuters, Nov. 28, 2018–Lucia MutikaniThe U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration’s 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter.
Corelogic: California’s Wildfire Cost Estimated $15B-$19B
The Mortgage Leader, Nov. 29, 2018According to the analysis, losses from the Camp Fire, the most destructive wildfire in the state’s history, are estimated to be between $11 billion and $13 billion. In addition, losses from the Woolsey Fire in Southern California are estimated to be an additional $4 billion to $6 billion.
Mortgage Bankers Association Expects More Millennials to Buy Houses
CNBC, Nov. 29, 2018Bob Broeksmit, Mortgage Bankers Association President and CEO, joins ‘Squawk Box’ to discuss the latest MBA housing forecast.
El-Erian: Fed Will Have to Go Through With Another Rate Hike Next Month or Risk Appearing Politically Influenced
CNBC, Nov. 27, 2018–Berkeley Lovelace Jr. The Federal Reserve next month will be forced to hike interest rates for a fourth time in 2018 or risk being seen as politically coerced, economist Mohamed El-Erian told CNBC on Tuesday.
Why the Housing Slowdown Won’t Become a Housing Crash
Yahoo.com, Nov. 27, 2018–Melody Hahm”The notable deceleration in median home price growth, 3.8% in October compared to roughly 6% in 2017, is a positive sign, as it indicates that home prices are rising at a more sustainable pace,” according to Mortgage Bankers Association Chief Economist Mike Fratantoni.
Real Estate, Title Agents Embrace Fintech, But Lose Faith in Homebuyers
National Mortgage News, Nov. 27, 2018–Elina Tarkazikis (subscription)As the mortgage industry points to the lagging technology efforts of other housing market segments as a pain point in streamlining the process, fintech adoption among real estate and title agents is accelerating, though their optimism on the housing market tanked this fourth quarter, according to First American Financial Corp.’s Real Estate Sentiment Index.
Homeownership for Older Millennials Quickly Becomes a Thing
HousingWire, Nov. 27, 2018–Jacob GaffneyIt appears Millennials are growing older and wiser, and the eldest in the generation are buying homes more and more, as the younger ones continue to push up demand for rentals.
Another Warning Sign That the U.S. Economy Will Slow Next Year
Bloomberg, Nov. 27, 2018–Sho Chandra, Liz McCormickJuiced by President Donald Trump’s tax cuts, business investment helped deliver a robust U.S. economy in the first half of 2018, but signs have multiplied that the growth driver is faltering.