Total existing-home sales -- including condominiums and co-operatives -- zoomed past the old record in the third quarter, reaching a seasonally adjusted annual rate of 7.40 million, according to the National Association of Realtors.The record resales rate was 18.7% higher than the 6.23 million rate recorded a year earlier. Resales rose in all 48 states for which complete data were available (plus the District of Columbia), and in 43 of those states and the district the sales were up by double-digit rates from the levels of a year earlier, the NAR reported. David Lereah, the NAR's chief economist, said it was the first time in 20 years that all available states reported sales increases. The previous record, a seasonally adjusted annual rate of 6.70 million resales, was set in the first quarter of 2003. The biggest year-over-year gains were recorded in Nevada, where the resale rate was up 37.6%; Washington, up 36.7%; and Arizona, up 29.4%. The NAR can be found on the Internet at http://realtor.org.
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Transunion will offer the credit scoring model for $4 in 2026, following previous moves made by VantageScore partners Experian and Equifax.
October 18 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regulators also accused Southern California-based E Mortgage of failing to properly supervise remote employees and cooperate with their examinations.
October 17 -
While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.
October 17 -
Solve stages an acquisition, Intercontinental Exchange partners on new indices, Optimal Blue adds updates and Incenter offers a CRA loan trading platform.
October 17