News for Prescott AZ - AmericanTowns.com

Friday, May 11, 2012

Newsdesk | May 11, 2012

 

Top News
Bernanke says stronger banks are making more loans
USA Today - But he says many creditworthy borrowers are still finding it difficult to get mortgage loans. He says small businesses owners who have used their homes as collateral for loans also face "challenging" conditions. In response to criticism that regulators...
Consumer Agency to Propose Curbs on Origination Fees
New York Times - The Consumer Financial Protection Bureau said it planned to propose tighter mortgage lending regulations that would limit the ability of banks and mortgage brokers to charge certain transaction...

Market News
Mortgage delinquency rate declines, but is still high
USA Today - Some 5.78% of the nation's mortgage holders were behind on their payments 60 days or more in the January-to-March quarter, credit-reporting agency TransUnion said Wednesday.
Another record low for mortgage rates
CNN Money - Mortgage interest rates hit new lows this week as both the 30-year and the 15-year fixed-rates fell, according to a weekly survey by Freddie Mac. It was the second consecutive week that rates broke records.
U.S. home prices could rise 4% a year, forecast says
USA Today - forecast, done with Moody's Analytics, assumes steady economic growth with no major shocks. Markets hardest hit by foreclosures will show the biggest five-year increases in home appreciation, it adds. Six of the 10 markets where annualized prices are expected to rise most over...
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - Mortgage applications increased 1.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 4, 2012. 
Fannie Mae Posts Profit, Won't Seek More Aid
CNBC - Fannie Mae, the largest source of U.S. housing funds, on Wednesday said it would not need to request more taxpayer aid this quarter after posting a $2.7 billion…
Bank Of America Starts Round 1 Of Mortgage Reductions
Forbes.com - The nation’s second largest bank said Tuesday that it started reaching out to more than 200,000 customers about principal reductions on their mortgages. The letters from the bank are expected to arrive at customers’ homes this week with much of the remaining to be sent out by July.

Technology News
Big Listing Portals Are Dominating Mobile
INMAN - While the debate about who owns the listing data and whether agents and brokers should be syndicating their listings to third-party vendors rages on, there's an important element almost no one is discussing: What do consumers want?

 

Other News
Drop in homes for sale is strengthening prices in many spots
USA Today - The U.S. had 2.37 million existing homes for sale at the end of March. That was down 22% from a year ago and 41% from the peak in mid-2007, the National Association of Realtors reported Wednesday.
Rural post offices won’t close, but hours will be cut
CNN Money - The U.S. Postal Service is backing off a previous plan to close thousands of post offices, and will instead cut hours at 13,000 rural facilities in an effort to save $500 million a year.

 

 

 

 

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