Zillow to Receive Listings from Redline Real Estate Canada

Redline Real Estate Canada's listings will soon be displayed on Zillow.

from
http://zillow.mediaroom.com/2018-10-17-Zillow-to-Receive-Listings-from-Redline-Real-Estate-Canada

Home Price Reductions Are Increasing, Especially at High End; Builder Confidence Improves

Recent research from Trulia shows home price reductions are increasing . The share of homes for sale that have had at least one price cut since being listed is the highest since 2014. This, the company says, is more evidence that the market may finally be tilting in homebuyers favor, but the benefits are certainly not evident across the board, or maybe even where they are most needed. During the first part of this year the share of listings with a price changes stayed much as it was in 2017, but then shot up in July and August. When this is coupled with the slowdown in home price growth that has been noted in most indices, and inventories that are finally creeping up, the increase in price cuts, according to Trulia, could be a critical third confirmation that things may finally be shifting

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/10/16/3594

Zillow Adds First Canadian Listings to Mobile App and Website

from
http://zillow.mediaroom.com/2018-10-16-Zillow-Adds-First-Canadian-Listings-to-Mobile-App-and-Website

Rising Interest Rates Send Mortgage Payments Climbing Twice as Fast as Home Values

Buyers today would have to spend about $1,400 more per year on their mortgage than they would have a year ago as rates have risen rapidly since the beginning of 2018

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http://zillow.mediaroom.com/2018-10-16-Rising-Interest-Rates-Send-Mortgage-Payments-Climbing-Twice-as-Fast-as-Home-Values

Freddie Announces More "Big Data" Tools; Rates Waiting For a Sign; New MBA Pres Comes Out Swinging

Freddie Mac is announcing a couple of enhancements to its Loan Advisor underwriting tool. The additional capabilities will allow lenders to automate the assessment of borrower income and assets to reduce documentation which the company says will significantly speed-up the approval process. There are several components to the advances which the company unveiled at the Mortgage Bankers Associations Annual Convention and Expo in Washington which began on Sunday. Automated collateral evaluation combined with collateral rep and warranty relief Automated assessments for borrowers without credit scores Automated asset and income validation. The automated collateral evaluation has been available in some form previously and with this announcement appears to be extended to condominium units . It is unclear

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http://www.mortgagenewsdaily.com/reports/newsletter/2018/10/15/3592

"Debt-to-Income" Now Biggest Player in Mortgage Denials; Rates and Stocks Stabilize

Mortgage denial rates ebb and flow with the economy, with lenders appetite for risk, and sometimes with the pressure lenders feel to make loans. Denial rates in 2017 continued to diminish as they have done since the economy began to improve in 2013 and were the lowest in any year since at least 2004. Using data collected from lenders under the Home Mortgage Disclosure Act (HMDA), CoreLogic estimates only about one in ten mortgage applications were denied last year. Poor credit used to be the primary reason that lenders turned borrowers away, but Yanling Mayer, writing in the CoreLogic Insights blog, says that, in the current credit cycle that has changed. The tight inventory of starter and lower-priced homes has pushed the prices of those homes up faster, impacting affordability more on that

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http://www.mortgagenewsdaily.com/reports/newsletter/2018/10/12/3588

Mortgage Rates Are Lower vs a Week Ago; Stocks vs Bonds; Effects on Homebuying

Mortgage rates fell today as the stock market sell-off remained in focus. Stocks and rates certainly don't have a linear and predictable relationship, but when stocks move lower as quickly as they have over the past 2 days, rates tend to see at least some benefit. Even though yesterday's stock sell-off was much worse, today was a better day for rates due to timing. Simply put, the mortgage market didn't have quite enough time to adjust to the move in stocks before the close of business. Lenders who did change rates yesterday were somewhat conservative with those changes in the event stocks bounced back in a major way. When stocks failed to improve overnight, mortgage lenders passed along more of the improvements seen in the underlying bond market. The average lender is now offering rates that

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/10/11/3586