Delinquencies See Biggest Year-to-Date Drop

Delinquencies See Biggest Year-to-Date Drop
Since 2002: Delinquencies saw the steepest year-to-date drop since 2002 in May as new problem loan rates inched toward pre-crisis lows, according to Lender Processing Services’ (LPS) Mortgage Monitor report released Monday.
Since the end of last year, the delinquency rate has fallen by more than 15 percent to 6.08 percent in May.

“Though they are still approximately 1.4 times what they were, on average, during the 1995 to
2005 period, delinquencies have come down significantly from their January 2010 peak,”

First-Time Buyers Have Smaller Budget,Interest in Foreclosures

Are Rising Prices Tempting More Home Owners?

Are Rising Prices Tempting More Home Owners?
With rising home prices, more home owners are finding they can sell without fear that their mortgage is worth more than their house. 
The number of sellers coming onto the market is serving as a relief to home buyers who were becoming increasingly frustrated at the lack of inventory and increase.

From January to March, about 19.8 percent of homes nationwide with a mortgage are considered “underwater” -- that’s a drop from 23.7 percent a year earlier.  Are Short Sales Becoming a Thing of the Past?

Asking Home Prices Show Impressive Gain in June

Asking Home Prices Show Impressive Gain in June

Rents Pick Up: Asking home prices took off in June, soaring 10.7 percent year-over-year, Trulia reported Wednesday.

Month-over-month, asking prices inched up by 1.5 percent and rose 4.1 percent on a quarterly basis. Trulia also tracked the 100 largest metro areas and revealed 99 markets experienced an increase in asking prices over the last year.

Rents rose at a slower pace of 2.8 percent year-over-year, though it was still the biggest increase since January. In Houston, New York, and Philadelphia, rents picked up at a faster pace than asking prices. Read more ....

Above-Normal Price Growth, Strong Metro Area Gains

Above-Normal Price Growth, Strong Metro Area Gains

Report Projects:  Forty-five of the top 50 metropolitan markets will experience yearly price increases during the second half of the year, according to Clear Capital’s Home Data Index Market Report released Tuesday.

This widespread forecast of price increases “speaks to this move toward a more balanced, broad-based recovery,” said Alex Villacorta, VP of research and analytics at Clear Capital. 

Timing the Market Right Some Buyers Still Lingering: Home prices and mortgage rates are rising

Cash Offers Make Home Buying Competitive

Cash Offers Make Home Buying Competitive

All-cash offers accounted for 33 percent of home sales, according to the National Association of REALTORS®' May 2013 REALTORS® Confidence Index. The majority of those all-cash offers are coming from investors and international home buyers. 

All-cash offers can represent stiff competition for traditional buyers. For example, first-time home buyers, who are already facing low inventories and rising home prices, view all-cash offers as one of their biggest competitions in the market today. 

Millennials' ball-and-chain:Student loan debt 

First-time buyers losing out as home sales rise,

First-time buyers losing out as home sales rise,

First-time home buyers accounted for 28 percent of existing-home purchases in May—down from 34 percent a year prior, according to the National Association of REALTORS®. Traditionally, first-time home buyers account for four of 10 home buyers, so their dwindling numbers are alarming some housing analysts and economists. 

As home prices rise, first-time home buyers may increasingly get left on the sidelines. Home prices have posted double-digit gains in the last year in many markets, and average mortgage rates are ticking up above 4 percent. Some first-time home buyers may have already missed the prime conditions to jump into home ownership.

U.S. home prices have risen for 14 straight months, but one set of buyers has been increasingly on the sidelines: first-time home buyers. 

Rising Rates soared to a two-year high last week.

Housing Market 61% 'Back to Normal'

Housing Market 61% 'Back to Normal'
The housing market made it to 61 percent “back to normal” in May, according to the latest Housing Barometer from Trulia.

May’s percentage is the first time the recovery has passed 60 percent since the crash. April’s barometer was 54 percent. A year ago, the barometer was at only 35 percent.
The monthly report measures three key housing market indicators.
Forecast Points to Steady Price Growth