National News

President Non-specific on Housing in Address

In a much-touted speech on the economy last night, President Barack Obama largely skipped the topic of housing, opting instead to comment what many had predicted: that the White House was looking to revise its “Home Affordable Refinance Program” to

Multifamily Units Looking Increasingly Robust on NAHB Index

The Multifamily Production Index (MPI), a statistic compiled by the National Association of Home Builders (NAHB) that measures multifamily unit construction, increased for the fourth consecutive quarter, another sign that the multifamily market is

Freddie Mac Redefines History with New 30-Year FRM Rate

So much for history – after reaching 50-year lows on Aug. 18, the 30-year FRM from Freddie Mac has hit a new historical low, this time reaching 4.12

Will Obama Speak About Housing Tonight?

President Obama is scheduled to address the nation tonight on the economy, and the real estate industry is filled with anticipation – apprehension, even – on what the President will say about housing, if anything at

Realtor University Appoints Chairman of the Board

Realtor University, a new online institution offering a Master of Real Estate, has named Richard J. Rosenthal its first Chairman of the Board of

Construction Adds 26,000 Jobs in 2011

After four years of negative job growth, the construction sector is experiencing positive gains in 2011, adding approximately 26,000 jobs to payrolls in 2011, according to new data from the Bureau of Labor

Uncle Sam Open to Ideas on Foreclosed Properties

The U.S. government is soliciting ideas on how to responsibly unload the 248,000 foreclosed properties currently in its possession, a total that represents almost a third of the nation’s foreclosed

Fannie Defaults at 4.08 Percent, Lowest Level in Two Years

Single-family mortgages by Fannie Mae that have been in default for more than 60 days fell to 4.08 percent in June and July, the lowest level in two

Fed Governor Urges Action on Housing

Federal Reserve Governor Elizabeth Duke called on Washington for aggressive action on housing, citing refinancing and property conversion as two possible

Appraisers Apprehensive about New Rules

New rules and regulations for appraisers of Fannie Mae and Freddie Mac properties have some in the industry fearing that the new steps will needlessly complicate the

Five-Year ARM Sets New Record Low at 2.96 Percent

Freddie Mac’s five-year ARM rate set a new record low yesterday, falling to 2.96 percent, a 0.56 percent decline from a year

Independent Mortgage Profits Rise to $575 a Mortgage

Profits on independent loans rose from $346 to $575 per mortgage for the second quarter, according to a new report by the Mortgage Bankers Association

Private Mortgage Modifications Up 11 Percent in July

Mortgage modifications by private companies rose 11 percent in July, according to data from the Hope Now alliance, a rate that far exceeds that of the government’s Home Affordable Modification Program

CoreLogic Price Index Up 0.8 Percent

The CoreLogic Home Price Index rose for the fourth consecutive month in July, increasing by 0.8 percent for the month and 5.5 percent over March’s

Obama Could Announce Housing Stimulus Next Week

President Obama is expected to answer calls of action and announce a housing stimulus plan next week during a planned speech on job

REO Properties Decline from 550,000 to 493,000 in Q2

REO properties declined in the second quarter from 550,000 to 493,000, according to research by Calculated

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