Category Archives: Residential

California: default notices fall 24 percent in 4Q

Good news from “trend starter state” California:  ”Mortgage default notices for California homeowners fell 24 percent during the fourth quarter, suggesting the worst might be over for foreclosures in entry-level markets while problems spread to pricier neighborhoods, a research firm said Wednesday. There were 84,568 default notices filed from October through December, down from 111,689 during the [...]
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U.S. home loan demand at highest since late May

NEW YORK (Reuters) – U.S. mortgage applications jumped last week to their highest since late May as interest rates tumbled below 5 percent, data from an industry group showed on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Sept 18 [...]
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Pace of U.S. existing home sales fastest in 2 years

Sales of previously owned U.S. homes jumped 7.2 percent in July to mark the fastest pace in nearly two years, a survey showed on Friday, in a strong sign that housing is pulling out of a three-year slump. Sales in July rose for the fourth straight month to hit an annual rate of 5.24 million units, [...]
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George Chen: China’s CIC to buy U.S. mortgages: sources

HONG KONG (Reuters) – China’s $200 billion sovereign wealth fund, which made big paper losses on stakes in Morgan Stanley and Blackstone, is set to invest up to $2 billion in U.S. mortgages as it eyes a property market recovery……Good news! -JLD –  Click here for full Reuters story….
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U.S. mortgage demand boosted by refinancing as rates drop

NEW YORK (Reuters) – Demand for U.S. home loans rose last week as a decline in 30-year fixed mortgage rates to a three-week low boosted applications for refinancing, the Mortgage Bankers Association said on Wednesday. Average 30-year mortgage rates fell 0.19 percentage point to 5.17 percent in the week ended July 31….Click here for Reuters story…
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New-Home Sales Rise 11 Percent in June

Sales of newly built, single-family homes rose 11 percent in June to a seasonally adjusted annual rate of 384,000 units, according to U.S. Commerce Department numbers released today. Coming on the heels of an upwardly revised number for May, the gain marks a third consecutive month of improved sales activity.  Click here for full National [...]
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U.S. economy contracts 1.0 pct in Q2

WASHINGTON, July 31 (Reuters) – The U.S. economy contracted at a slower-than-expected pace in the second quarter as the slump in business and residential investment moderated sharply, according to government data on Friday that backed views the recession was winding down. Gross domestic product, which measures total goods and services output within U.S. borders, fell at [...]
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Strong June housing data

VIDEO: jump in demand for new single-family homes drives gains in housing data.
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U.S. recession easing but likely not over….

It’s not over but residential has bottomed….Commercial RE still to come…
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Housing starts rise more than expected

Building permits being issued again! We are now at the flat bottom in Res R.E.  “New U.S. housing starts and permits jumped more than expected in June, propelled by a rise in single-family homes, a government report showed on Friday”
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