Average house prices increased at a 12.5% annual rate from the first quarter of 2004 through the first quarter of 2005, according to the Office of Federal Housing Enterprise Oversight.House price appreciation has been in double digits for the past four quarters and it hit a record annual rate of 13.4% in the third quarter of 2004, before slowing to 11.8 % in the fourth quarter. "The House Price Index shows the rise in house prices continues at an extremely strong pace and raises the potential for declines in some areas later on," said OFHEO chief economist Patrick Lawler. The highest annual price appreciation occurred in Nevada (31.2%), California (25.4%) and Hawaii (24.4%). The lowest annual price appreciation occurred in Texas (3.77%) Indiana (4.09%) and Oklahoma (4.11).
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18