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New-Home Construction to Be Low for a While

Daily Real Estate News | Tuesday, July 22, 2014 New-home construction has been low over the last couple years, and likely will continue to be low for the next two years, according to analysts at RBC Capital Markets. What's Happening in the New-Home Market • New-Home Sales Surge Nearly 19% • Lot Shortages to Inflate New-Home Prices • 8 Top New-Home Markets Luring Millennials While housing starts will likely hit the 1 million mark this year, that's still far below the average of 1.4

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Refis Drive Rise in Mortgage Applications in Latest Week

  Daily Real Estate News | Wednesday, July 23, 2014 More borrowers submitted mortgage applications to refinance their homes last week, even though mortgage rates barely budged during the week. Mortgage applications rose 2.4 percent on a seasonally adjusted basis, mostly driven by a 4 percent increase in applications for refinancings, the Mortgage Bankers Association reported in its weekly mortgage market survey, which measured loan volume for the week ending July 18. Recent Weekly

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JPMorgan Threatens to Stop FHA Loans

  Daily Real Estate News | Tuesday, July 22, 2014 JPMorgan Chase & Co., one of the nation's largest mortgage lenders, is threatening to stop originating mortgages insured by the Federal Housing Administration. JPMorgan, the second-largest securitizer of FHA loans, recently paid more than $600 million in federal fines for originating $200 million in flawed FHA loans that were later found out not to meet underwriting requirements. The bank's CEO, Jamie Dimon, is asking FHA to issu

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Majority of Buyers Unaware of True Costs of Home Ownership

  Daily Real Estate News | Wednesday, July 23, 2014 While the majority of home buyers recently surveyed say they feel financially prepared for home ownership, many admit they aren’t sure what purchasing a home will actually cost them, according to a poll of more than 1,000 prospective home buyers conducted by Discover Home Loans. At What Cost Ownership • Help Buyers Add Up Extra Costs of Home Ownership • 10 Ways to Prepare for Home Ownership • Dramatic Spike in Cost of Home

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3 Challenges Still Facing the Housing Market

Daily Real Estate News | Wednesday, July 23, 2014 Existing-home sales gained momentum in June, reaching an annual pace of 5 million sales for the first time since October 2013, according to the National Association of REALTORS®’ latest housing report. Rising inventories also are pushing the overall supply of homes for sale toward a more balanced market, with unsold inventories 6.5 percent higher than a year ago, NAR notes. “Inventories are at their highest level in over a year and pric

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