Freddie Mac released it’s U.S. Economic and Housing Market Outlook for October this morning showing demand for rental housing on the rise and that the multifamily sector of the housing market is a strong positive signal for the U.S. Housing Industry. [...]
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This morning, Freddie Mac released the results of it’s Primary Mortgage Market Survey revealing that the interest rate on a 30-year fixed rate mortgage averaged 4.01 percent, which is an all-time record low and the interest rate on a 15-year fixed rate mortgage averaged 3.28 percent, also an all-time record low! [...] Freddie Mac, one of the nation’s largest investors in conforming, conventional mortgages, announced it will delay initiating foreclosure for at least nine months for financially troubled service members who are released from active duty through the end of 2011 and have Freddie Mac-owned mortgages. “Our military make sacrifices every day to protect our homes and [...]
Dennis Norman The CEO of Freddie Mac, Ed Haldeman, published a blog post this week which said reports of mortgage fraud were on the rise; there were nearly 38,000 cases of mortgage in the first half of 2010 – a 13 percent increase over the same period in 2009. Haldeman says that the fraudsters [...]
Dennis Norman Last week both Fannie Mae and Freddie Mac announced relief for homeowners with a mortgage insured by either agency (which accounts for over 90 percent of the home loans in the U.S.) that either have drywall problems (the Chinese drywall issue) or are in the Gulf coast area and are affected by [...] Dennis Norman Today the Federal Housing Finance Agency released it’s “Foreclosure Prevention & Refinance Report for the Third Quarter 2009“. This report gives data on Fannie Mae and Freddie Mac, the two-quasi-government agencies that either own or insure most of the home loans in the U.S., including how foreclosure prevention and loan modification programs [...] 15-Year FRM Drops to Set Another New Low in Freddie Mac Survey History McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending November 25, 2009, down from [...] Dennis Norman According to Freddie Macs weekly mortgage market survey the interest rate on home mortgages dropped for the third-consecutive week and remains at a three-month low. The survey shows the interest rate on a 30 year fixed rate mortgage for the week ending September 17, 2009, averaged 5.04 percent with 0.7 percent in [...] Dennis Norman According to Freddie Macs weekly mortgage market survey the interest rate on fixed-rate home mortgages dropped to the lowest rate since May 28th. The survey shows the interest rate on a 30 year fixed rate mortgage averaging 5.08 percent with 0.7 percent in fees and points this week, down from 5.14 percent [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates decreased slightly for the week ending August 6, 2009 from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.22% with 0.6% in fees and points, down from 5.25% the week before. Last year at this time, the 30 [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates increased slightly this week from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.25% with 0.7% in fees and points, up from 5.20% the week before. Last year at this time, the 30 year rate averaged 6.52%. Rates [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates increased slightly this week from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.20% with 0.7% in fees and points, up from 5.14% the week before. Last year at this time, the 30 year rate averaged 6.63%. Rates [...] By: Dennis Norman Appraisals continue to be in the spotlight. Investors, builders and other sellers are complaining of losing sales due to low appraisals and often cite HVCC (Home Valuation Code of Conduct) or AMC (appraisal management companies) as the problem. One common complaint is that appraisers are being assigned to do appraisals on transactions in [...] Dennis Norman By: Dennis Norman Practically the entire real estate industry seems to be abuzz about the Home Valuation Code of Conduct (HVCC) that went into effect May 1st. I first wrote about it back in early April in a post on this blog. Since Fannie Mae and Freddie Mac implemented the new rule there have [...] Dennis Norman By: Dennis Norman Earlier this month I did a post about the Home Valuation Code of Conduct (HVCC) which is scheduled to take effect May 1st (click HERE to see post) Last week, Charles McMillan, the President of the National Association of REALTORS(R) sent letters to Fannie Mae President and CEO Michael [...] I’m pleased that within the last couple of days, some real economists that are actually paid for their opinion of the market, have come out and stated that housing my be near the bottom; Something that I first suggested over two weeks ago in a post on this site and then again four days ago in another post. [...] By: Dennis Norman After May1st Fannie Mae and Freddie Mac will no longer accept loans that do not comply with The new Home Valuation Code of Conduct (HVCC). Since between Fannie Mae and Freddie Mac they control about 90% of the secondary mortgage market in America this will most likely affect real estate investors one way [...] By: Dennis Norman This morning the National Association of REALTORS(R) released data for existing home sales for November. The numbers show sales of existing homes down 8.6% nationwide versus October and down 10.6% versus last year. The Northeast saw the biggest decline in sales being down 12.0% versus last month and 18.0% versus last year. The west [...] |
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