House prices appreciated by only 0.1% in the second quarter, but rose at a 3.2% rate over the previous four quarters, which was still a 10-year low, according to a housing price index published by the Office of Federal Housing Enterprise Oversight."Prices in the second quarter of 2007 were 3.2% higher than they were in the same quarter of 2006, the lowest annual price change since the 1996-97 period," OFHEO said. OFHEO Director James Lockhart said the second quarter was marked by tighter credit policies, rising foreclosures, and weakening buyer demand. "Significant price declines appear localized in areas with weak economies or where price increases were dramatic during the housing boom," he said. OFHEO collects its pricing data from Fannie Mae and Freddie Mac, and it includes refinancings and home purchase transactions. OFHEO can be found at http://www.ofheo.gov.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
April 23