Tag Archives: Fannie Mae

First-Time Homebuyer Purchases Fall to All-Time Low

According to the National Association of Realtors® (NAR), first-time homebuyers accounted for only 27% of all home sales in December 2013—the lowest level since the NAR started tracking such statistics in 2008. Factors that may be contributing to diminishing numbers include high student loans, poor credit scores, low employment, and the rise in home prices […]

Breaks for Homeowners Likely to Expire in 2014

Congress has indicated that all the write-offs homeowners enjoyed in the past are set to expire at the end of the year and see no further relief any time soon. Last year, Congress decided at the last minute to extend assistance for mortgage debt and deductions for mortgage insurance payments. Currently, The House and Senate […]

GSE Sees Foreclosures Drop 11% in Q2 2013

Reports have shown that Foreclosures and delinquencies have continued to drop within government-sponsored enterprises such as Fannie Mae and Freddie Mac after second-quarter reviews from the Federal Housing and Finance Agency’s (FHFA) Foreclosure Prevention Report. Interestingly, third-party sales and foreclosures fell 10% from last quarter and foreclosure starts decreased by 11%. This is the result […]

NAHB Says Prospective Buyer Traffic Is At Its Highest Level in 6 Years

The National Association of Home Builders reports that builder confidence in the market for newly built single-family homes held steady in September after four consecutive months of improvements. This year, the component gauging traffic of prospective buyers increased one point, to 47, the highest since October 2005. Any number over 50 indicates that more builders […]

Loan Modifications by Fannie Mae Fall in June

Fannie Mae reported that the number of loan modifications completed during the month of June was less than May’s figure. During the month of June, the agency modified 12,967 loans, down from 13,650 the previous month. That is lower than this year’s monthly average and last year’s monthly average: so far this year, Fannie Mae […]

Will Fannie and Freddie Shutdown Push Up Mortgage Rates Further?

The Associated Press reported today that, if Congress has its way, the two government-controlled mortgage guarantee entities — Fannie Mae and Freddie Mac — could close down, resulting in higher mortgage rates. The House and Senate have separate bills that would phase out both Fannie and Freddie over a five-year period. But while the House […]

Recent Forecast Shows Mortgage Rates Continue to Grow

According to Fannie Mae’s Economic and Strategic Report, the 30-year fixed mortgage rate increased more than 110 basis points from May to June. Recent data shows continued improvement with May’s existing home sales jumping to its highest level in six years. Also, new home sales were up in May to the highest level since July […]

Senate Introduces Jumpstart GSE Reform Act

Mortgage News Daily recently reported that four members of the Senate Banking, Housing and Urban Affairs Committee have introduced legislation that would control how the increase in guarantee fees levied by Fannie Mae and Freddie Mac are used and when the stock in the two companies can be approved for sale. The Jumpstart GSE Reform […]

80% of Strategic Defaulters Want to Buy Another House Next Year

A recent survey from YouWalkAway.com showed that 80% of homeowners in strategic default — that is, those who “walked away” from their mortgages when they started facing foreclosure — are looking to buy another house within the next 12 months. This may benefit the housing market early next year: Moody’s Analytics says that there will […]

Will Mortgage Refinancing Bill Be Made into Law?

There is a tug-of-war in Congress over a bill that would reduce up-front fees for homeowners with Fannie Mae and Freddie Mac loans who wish to refinance and eliminate appraisal costs. While Democrats argue this will save homeowners thousands of dollars a year in mortgage payments, Republicans say the best way for the housing market […]