Fannie Mae is set to raise the benchmark interest rate for its Standard Modification program for the second month in a row. The new rates take effect on July 14.
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Attention lenders and servicers. There may soon be a deadline to file insurance claims with the Federal Housing Administration, after the FHA issued a proposal establishing a “clear timetable” for claim payments. Click through to learn more.
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While creditors are lining up and controversy has swirled around the abrupt virtual bankruptcy of mortgage banking industry law firm Butler & Hosch, little has been revealed about what happened behind the scenes. Until now.
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The San Francisco Bay Area is showing some warning signs of a possible bubble. However, this isn’t to say the entire nation is on the verge of a bubble. Collateral Analytics noted that some economists and real estate observers are trying to sensationalize an issue that doesn’t exist.
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The U.S. housing markets are on track to be the best since 2006 with robust demand and a corresponding growth in supply (4% month-over-month) maintaining their springtime momentum and helping to boost sales in June 2015, according to realtor.com’s ‘Advance Read on June Trends’ which draws on residential inventory and demand trends over the first three weeks of each month.
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Americans’ outlook toward the current home selling market and the future of home rental prices may bode well for purchase activity this year, according to results from Fannie Mae’s June 2015 National Housing Survey.
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The Northwest posted a surge in first-time homebuyers thanks to rising rents and an influx of relocating workers. “In most cases buying a home costs significantly less than renting and the good news is the monthly payment will remain the same as rents continue to rise,” said Mike Gain, CEO and president of Berkshire Hathaway HomeServices Northwest Real Estate.
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