Author Archive

Home Prices Rebound, but Still Down from Peak

Back in the 3rd quarter of 2005, the national median home price peaked at $227,633. Nine years later, the national median was $216,367 in the 3rd quarter of 2014, a decline of 4.9%. While the national median sale price...

Regional Income Growth Gains Importance

Mortgage rates eased in the second half of 2014 based on unrest in Eastern Europe and fear of an economic slowdown in Europe. This decline in rates has helped to improve affordability, but rates are expected to rise over...

Lenders Tighten Modestly in the 3rd Quarter

In the 3rd quarter as in earlier surveys, respondents to NAR’s Survey of Mortgage Originators were asked about impacts of the Qualified Mortgage rule on the mortgage lending market.  However, this quarter the survey expanded to measure lender expectations...

Many GSE Loan Limits Will Rise for 2015

The FHFA has announced new loan limits for 2015. A number of counties and metro areas will see an increase in their loan limits in 2015, which is important in this tight credit environment. As prices rise with the...

QM Still a Concern

Some aspects of the qualified mortgage rule continue to weigh on the mortgage market.  According to NAR’s Survey of Mortgage Originators, despite overtures from the CFPB and modestly fewer issues, lenders tightened some restrictions in the 3rd quarter. The...