Category: Top National News

Wall Street Journal, May 5, 2016–Timiraos, Nick
The housing market has recovered, but sluggish entry-level construction is putting a squeeze on families that would like to buy their first home. A new report pins the blame on City Hall.

L.A. Times, May 5, 2016–Valhouli, Constantine
While many Los Angeles neighborhoods seem out of reach based on price averages, those numbers don’t tell the whole story. The range of prices can vary significantly, meaning affordable properties are available in areas where many might never think to look.

MarketWatch, May 5, 2016–Riquier, Andrea
Fannie Mae CEO Fannie CEO Tim Mayopoulos called it “not sustainable” to operate without capital just after his company reported a $1.14 billion profit in the first three months of the year, the 17th consecutive quarter of profitability.

Gizmodo, May 6, 2016–Walker, Alissa
Thanks to the generation’s size and influence, millennials are moving to new places made just for them, by them-revitalizing smaller cities or opting for hybridized urban-burb enclaves where quality of life is the driving force.

Associated Press, May 5, 2016–Gordon, Marcy
Mortgage giant Fannie Mae posted net income of $1.1 billion for the first quarter, down from a year ago as declining interest rates reduced the value of the financial instruments it uses to hedge against rate swings.

National Mortgage News, May 5, 2016–Passy, Jacob
Lending standards tightened once again in April, according to the Mortgage Bankers Association.

Washington Post, May 5, 2016–Orton, Kathy
After wandering higher for the past two weeks, mortgage rates reversed course, pulling back to near yearly lows.

Washington Post, May 5, 2016–Marte, Jonnelle
For years, consumers wanting to open a credit card or use almost any kind of financial product have often had to give up their right to sue the company – usually as a condition of doing business. But new rules proposed Thursday by the Consumer Financial Protection Bureau could change that.

Associated Press, May 5, 2016
Soaring expenses are squeezing profits for nonbank lenders, which have grown to almost half of the mortgage market, as new rules and stepped-up regulatory scrutiny slice into already-thin margins. The average cost to originate a home loan jumped by 18 percent in the past two years, according to Mortgage Bankers Association data.

National Mortgage Professional, May 5, 2016–Hall, Phil
The latest numbers from the leading housing market data sources reveal a market that has seen better days, although glimmers sunlight could be detected.