Technology

First-time homebuyers, usually between 18 and 34 years old, prefer mortgage shopping through the web, to getting in their cars and driving to their banks to shop for a mortgage.

The new version of Ellie Mae's Encompass360 application includes over 200 new features, the Pleasanton, Calif.-based mortgage-software company said.

The Census Bureau reported that single family starts rose to a 599,000 seasonally adjusted annual rate in May from a 597,000 rate in April.

The National Security Agency spying scandal, sparked by news that the NSA has been monitoring phone and e-mail records of millions of Americans, could spill over into the mortgage industry.

As many communities throughout the country continue to recover from the housing crisis, Freddie Mac is trying its best to help as many distressed borrowers as possible avoid foreclosure.

When compared with May 2012, prices in California increased 32%, going to $417,350 from $316,460.

A DataQuick report revealed more counties experienced home price increases in May compared to the prior month, with a notable surge occurring in cities located within the Mountain Time Zone.

The upgrades of the master and primary servicer rating reflect the completion of Wells Fargo's Systems Process Integration project and subsequent operational improvements.

For the first time since April 2006, home builders view conditions for sales of newly built single-family homes as good, the National Association of Home Builders said.

Redfin said active listings are down 22% from a year ago, but this is likely to turnaround to a positive number before the end of the year.