Data through April 2014 showed a decline in the national default rate from March, according to S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices. The indices are a comprehensive measure of changes in consumer credit defaults, released monthly. The national composite default rate recorded its lowest post-recession figure of 1.11 […]
Florida Shows Positive Housing Gains in Q1 2014
DSNews BY: Colin Robins May 13, 2014 Florida’s housing market showed signs of improvement in the first quarter of 2014, notching gains in median prices, new listings, and inventory while homes spent fewer days on the market. According to the latest datareleased by Florida Realtors, completed sales of single-family homes totaled roughly 50,000 for the quarter, […]
New York Fed Finds Increasing Debt Levels in Q1
DSNews BY: Tory Barringer May 14, 2014 Americans increased their borrowing in the first quarter, but little of that stemmed from new mortgage lending, according to data released Tuesday by the New York Federal Reserve. The New York Fed recorded an increase of $129 billion in national outstanding household debt in the first three months […]
FHA Program Aims to Expand Credit; Lower Risk
DSNews BY: Colin Robins May 13, 2014 The Federal Housing Administration (FHA) issued its “Blueprint for Access,” which aims to expand credit access for underserved borrowers by utilizing housing counseling as a means to reduce the possibility of loans becoming seriously delinquent. The announcement highlights a new pilot program, Homeowners Armed with Knowledge (HAWK), which […]
Survey: Americans Don’t Know How Credit Scores are Calculated
DSNews BY: Tory Barringer May 14, 2014 Survey results show Americans—and Millennials especially—continue to have only a vague understanding of how their credit scores are calculated and used. For the latest annual survey, the fourth of its kind, more than 1,000 representative American consumers were asked 19 questions designed to gauge their knowledge of […]
First Quarter Housing Affordability Edges Higher
DSNews BY: Colin Robins May 13, 2013 A decrease in median home prices coupled with steady mortgage rates helped contribute to higher housing affordability in the first quarter of 2014, according to the National Association of Home Builders (NAHB). NAHB, coupled with Wells Fargo, recently published their Housing Opportunity Index (HOI), which found 65.5 percent of new and […]
Mortgage Rates Decline for Third Straight Week
DSNews BY: Tory Barringer May 15, 2014 Mortgage rates pulled back slightly again this week, responding to what little major economic developments there were. According to Freddie Mac’s Primary Mortgage Market Survey, the 30-year average fixed-rate mortgage (FRM) eased to 4.20 percent (0.6 point) for the week ending May 15, a drop of just 1 […]
Foreclosure Activity Decreases in April
DSNews BY: Colin Robins May 15, 2014 RealtyTrac’s latest U.S. Foreclosure Market Report for April 2014, revealed foreclosure filings were down 1 percent from March, totaling approximately 115,000. April’s figure reflects a year-over-year decrease of 20 percent. The report found one in every 1,137 U.S. housing units with a foreclosure filing during the month. […]
FHFA Adopts New Plan Under Director Watt; Won’t Reduce GSE Market Share
DSNews BY: Krista Franks Brock May 14, 2014 In a speaking engagement at the Brookings Institution, Federal Housing Finance Agency (FHFA) Director Melvin L. Watt spoke about his new 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac, highlighting a few major changes to the plan. Notably Watt’s plan removes any intention to reduce the GSEs’ […]
U.S. Home Flipping Drops to 3.7 Percent of All Sales
DSNews BY: Colin Robins May 1, 2014 RealtyTrac released its U.S. Home Flipping Report for Q1 2014, reporting that 3.7 percent of all U.S. single-family home sales were flips. Home flipping over all is down, dropping 4.1 percent from the fourth quarter in 2013, as well as declining 6.5 percent from the previous year’s first quarter. […]
