Choose your path
Effective June 1, Freddie Mac stopped charging lenders $20 to use Loan Prospector, its automated underwriting service and risk-assessment tool that gives lenders access to Freddie’s credit and pricing terms, HousingWire reported May 27.
Federal Reserve Vice Chairman Stanley Fischer noted in a May 26 speech at Tel Aviv University that policy makers will consider international growth as they start to increase interest rates, and that borrowing costs could increase slowly if the global economy falters, Bloomberg reported.
The U.S. housing market continues to stabilize, with the most improved metro markets seeing strong demand for home sales during the spring homebuying season, according to Freddie Mac’s Multi-Indicator Market Index released May 27. Overall, the index shows 80 percent of the country’ top housing markets are improving.
Home sales in April showed that the San Francisco Bay Area is the best market for sellers, with homes selling for an average 108 percent of market value, according to the April 2015 U.S. Home Sales Report released May 28 by analytics firm RealtyTrac.
Increased demand for larger, more modern homes is driving builders across the country to tear down and reconstruct homes in existing neighborhoods where the land typically is more valuable than the aging housing stock, according to National Association of Home Builders’ data, Bloomberg reported May 27.
Following positive housing market data, average fixed mortgage rates last week rose to their highest levels of the year, Freddie Mac reported May 28 in its Primary Mortgage Market Survey.
The combination of a strengthening labor market and increased household formation should help the commercial real estate market expand this year and into next, the National Association of Realtors reported May 27 in its quarterly commercial real estate forecast.
The hotel market should see at least two more years of rapid growth due to favorable operating fundamentals, MBA NewsLink reported May 28. The lodging sector in April experienced record occupancy of 66.8 percent and room demand of 99.4 million rooms, according to data from research firm STR.
Scarce opportunities and high prices in major gateway markets are forcing real estate investors to look at mid-tier markets for open-air shopping center investments, according to commercial real estate firm CBRE, MBA NewsLink reported May 28.
The Appraisal Institute announced June 3 the recognition of two individuals as a “Volunteer of Distinction” for June.
Pop up content here.