Washington Post, Aug. 27, 2015–Orton, Kathy
Turmoil in the stock market drove mortgage rates lower this week, sending the 30-year fixed-rate average down to its lowest level in three months.
Category: Top National News
The Case for a September Rate Rise
Wall Street Journal, Aug. 27, 2015–Lahart, Justin
Market turmoil has cast doubt on the Fed’s September intentions. But a rate increase remains very much on the table. http://www.wsj.com/articles/the-case-for-a-september-fed-rate-rise-1440698537
Pending Sales Flatten, Rates Dip, In-Foreclosure Sales Drop
National Mortgage Professional, Aug. 27, 2015–Hall, Phil
Latest housing data finds a continued pattern of very mixed messages, with pending sales flattening out and rates dropping while sales of properties in-foreclosure declined to record lows.
HUD Program Failed to Detect Residency Issues: Report
National Mortgage News, Aug. 27, 2015–Peters, Andy
HUD policies governing the Home Equity Conversion Mortgage program failed to detect instances where borrowers failed to comply with residency requirements, a report said.
Walter Affiliate Marix Takes on $3.3B in Freddie MSRs
HousingWire, Aug. 27, 2015–Swanson, Brena
Marix Servicing, an affiliate of Walter Capital Opportunity, received approval from Freddie Mac to hold mortgage-servicing rights, marking the first of many more to come.
Jackson Hole Journal: Rate Rise Friends, Foes Encircle Fed Event
Bloomberg, Aug. 27, 2015–Condon, Christopher
The Federal Reserve Bank of Kansas City opened its annual policy summit Thursday evening at the scenic retreat outside Jackson Hole, Wyoming, drawing central bankers from around the world for a high-powered debate on inflation.
U.S. Jobless Claims Down for First Time in 5 Weeks
Reuters, Aug. 27, 2015
Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 271,000 for the week ended Aug. 22, the Labor Department said on Thursday.
Coming Decade Could Bring Best Housing Climate in History
Reverse Mortgage Daily, Aug. 27, 2015–Ecker, Elizabeth
Based on market cycles, census data and other study factors, the Mortgage Bankers Association (MBA) delved into the housing outlook over the next decade to find that “By 2024, demographic and economic changes will bring what could be one of the largest expansions in the history of the U.S. housing market–15.9 million additional households.”
Ex-Fifth Third Banker Starts Mortgage-Bond Hedge Fund
HousingWire, Aug. 27, 2015–Lane, Ben
In 2013, Kevin Taylor left his position running mortgage-backed securities trading desk at Fifth Third Bank to start Mariemont Capital. Taylor is finding success investing in residential mortgage bonds and delivering big returns for his investors.
In San Francisco’s Bidding Wars, Home Prices Go Ballistic
Wall Street Journal, Aug. 27, 2015–Jackson, Candace
In the San Francisco Bay Area, selling a house is easy. The trick is getting $100,000 or more over the asking price.