Cash sales drop to 34% of all home sales in April 2015 By Jeff Sorg, OnlineEd Blog, July 29, 2015 Irvine, CA. – Cash sales made up 33.7 percent of total home sales in April 2015, which is down from 37.4 percent in April 2014, according to the Core Logic July 2015 Market Pulse publication. Cash sales have […]
Home supply at just 5.8% months By Jeff Sorg, OnlineEd Blog, July 28, 2015 WASHINGTON, D.C. – Sales of new single-family houses in June 2015 were at a seasonally adjusted annual rate of 482,000 uints, according to estimates released jointly today by the U.S. Department of Housing and Urban Development (HUD) and the Census Bureau. This […]
The U.S. index is only 1.8 percent below its March 2007 peak By Jeff Sorg, OnlineEd Blog, July 27, 2015 Washington, D.C. – U.S. house prices rose in May, up 0.4 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). The previously reported […]
Millennials are ready to give up some conveniences in order to finance a home purchase (Washington DC, July 14, 2015) — A majority of millennials (ages 24-34) are willing to sacrifice modern day conveniences like cell phones, internet, cable and Starbucks in order to save for a down payment on a home. A new survey from […]
Equifax report – First quarter mortgage originations soar! (Jeff Sorg, OnlineEd) – According to the Equifax National Consumer Credit Trends Report, total mortgage origination balances hit $466 billion in the first quarter, a 74.4% increase from the same time a year ago. These are a few key takeaways from the report: First mortgages led the growth, […]
The Consumer Financial Protection Bureau (CFPB) has published its enhanced public-facing consumer complaint database (Jeff Sorg, OnlineEd) – In June 2012, the CFPB launched its Consumer Complaint Database, which is the nation’s largest public collection of consumer financial complaints. In March 2015, the Bureau finalized a policy to empower consumers to publicly share their stories when they submit […]
CFPB issues proposed amendment to move TRID implementation date from August 1, 2015 to October 3, 2015 BREAKING NOW – – – (Jeff Sorg, OnlineEd) – The Consumer Financial Protection Bureau (CFPB) today issued a proposed amendment to the Know Before You Owe mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015. […]
The CFPB will be issuing a proposed amendment to delay the effective date of the Know Before You Owe rule until October 3, 2015 DEVELOPING STORY – – – (Jeff Sorg, OnlineEd) – Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement on the Know Before You Owe mortgage disclosure rule: […]
“Builders are reporting more serious and committed buyers at their job sites” (Jeff Sorg, OnlineEd) – The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released June 15, 2015, shows that builder confidence in the market for newly built, single-family homes in June rose five points to a level of 59 on the […]
(Jeff Sorg, OnlineEd) SF Gate is reporting that a judge has ruled Gov. Jerry Brown and the Legislature illegally raided a state fund that was created to help distressed homeowners and took $331 million to balance the budget. The article alleges that money was taken from a fund that contained California’s share of a $5 […]