The risk of a general decline in home prices over the next two years has declined in recent months, according to the winter 2005 PMI Risk Index, which fell 25 points from its autumn 2004 level.The average value of the index for the 50 largest metropolitan statistical areas stood at 161 as of January, said PMI Mortgage Insurance Co., the Walnut Creek, Calif.-based mortgage insurer that created the index. The index value means that these cities have on average a 16.1% probability of experiencing a home price decline in the next two years. PMI said its analysts attribute the decline in the index to improving nationwide economic conditions indicated by generally lower regional unemployment rates. The MSAs topping the index were Boston-Cambridge-Quincy (Mass. and N.H.), at 533; San Jose-Sunnyvale-Santa Clara (Calif.), at 530; and San Francisco-Oakland-Fremont (Calif.), at 479.
-
The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
16m ago -
One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
48m ago -
There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
1h ago -
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
3h ago -
Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
9h ago -
The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
May 9