Sixty-four percent of all August mortgages were conventional loans, backed by Fannie Mae or Freddie Mac.
Existing home sales increased 2.4 percent, and new home sales decreased by the same percentage, in July, news that was met positively by stock markets.
Companies looking to capitalize on the building boom should partner with a lender that specializes in construction loan software.
Numbers released on Monday by CoreLogic showed that the number of homes in foreclosure dropped in October from the previous month and was down 9 percent for the year.
Harris Trifon, head of commercial and asset-backed debt research at Deutsche Bank, said in a report that the storm cut a path over properties backing nearly 7,600 CMBS loans with a total balance of $175 billion.
There has been an increasing trend of investment funds picking up foreclosed properties and managing the homes the same way that large real estate funds hold apartment complexes.
An increasingly common trend is for businesses and individuals to “go green,” and try to stay as environmentally friendly as possible. That same mindset has been transferred to the housing market.
Citigroup has started an initiative – similar to one that Bank of America did earlier this year – where homeowners can rent their houses if they sign over the deed.
Overall, the quality of serviced mortgages improved and the percentage of serviced loans that were current and performing at the end of March was 88.9 percent, the highest level in three years.
High rent and low vacancy rates are concerns for potential renters but concerns faced by landlords are just as serious