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While some in Congress are pushing the Federal Housing Finance Agency to let Fannie Mae and Freddie Mac recapitalize, a bipartisan coalition of senators is urging FHFA Director Mel Watt to let legislative efforts guide housing finance reform, HousingWire reported July 11.
The Federal Housing Finance Agency reported July 11 that an estimated 31,000 borrowers nationwide are eligible for a one-time principal reduction, with most of the homeowners concentrated in five states: Florida, Illinois, Ohio, New Jersey and New York.
The Office of the Comptroller of the Currency on July 11 said it will increase scrutiny of the commercial real estate sector because credit risks are on the rise due to low interest rates, Reuters reported.
Residential real estate activity increased at a moderate pace in most Fed districts, with single-family home prices increasing and inventories remaining tight, the Federal Reserve reported July 13 in its newest Beige Book. Commercial sales and leasing activity was steady or slightly improved in most districts.
Morgan Stanley’s review of commercial real estate debt revealed risks to banks — especially small banks — and increased risks to CRE value in smaller markets, commercial mortgage-backed securities and select real estate investment trusts, Barron’s reported July 11.
Markets may have stabilized and 10-year Treasury yields may have sharply rebounded during the past week, but average fixed mortgage rate barely budged from last week’s near-record low, Freddie Mac reported July 14 in its Primary Mortgage Market Survey.
National foreclosure filings during the first half of the year are down 11 percent-year over-year and down 20 percent from the end of 2015, analytics firm RealtyTrac reported July 13. Counter to the national trend, 19 states saw foreclosures increase during the same time period.
Current renters, especially those younger than 35, reportedly think now isn’t a good time to enter the housing market, the National Association of Realtors reported July 13 in its Housing Opportunities and Market Experience survey. Conversely, 80 percent of current homeowners believe now is a great time to purchase a home.
Apartment demand surged in the second quarter, easing investor concerns after a rocky first quarter, according to a report from apartment research firm MPF Research, National Real Estate Investor reported July 12.
Student housing performed very well during the past two quarters, with a record $2.6 billion in capital pouring into the sector, cap rates consistently above 6 percent and increased interest from foreign investors, according to commercial real estate services firm JLL, National Real Estate Investor reported July 12.
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