Temporary Factors Slowed Economic Growth in Q1, Analyst Says

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Temporary Factors Slowed Economic Growth in Q1, Analyst Says Share Save Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Bureau of Economic Analysis job market Mortgage Market U.S. Economy Previous: Eight of the Top 10 Hottest New Home Sales Markets Are in the South Next: Housing Alliance to Continue Borrower Outreach Events in Midwest Sign up for DS News Daily Bureau of Economic Analysis job market Mortgage Market U.S. Economy 2015-05-25 Brian Honea May 25, 2015 1,044 Views Servicers Navigate the Post-Pandemic World 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago According to the Mortgage Bankers Association’s Economic and Mortgage Finance commentary for May 2015 written by Joel Kan, associate VP, industry survey and forecasts at MBA, economic growth struggled its way through the first quarter.Kan believes that Q1 was mostly impacted by the stronger U.S. dollar and lower exports, as well as trade and inventory disruptions on the West Coast. On the other hand, low retail sales signified that consumers were not spending much in Q1, and a decline in industrial production could be a sign that businesses are not motivated to increase production and invest.“We still believe that some of these are temporary factors and that domestic growth will pick up in the second quarter, given that the job market remains strong and there has been upward pressure on wage growth,” Kan said. “Because rates have been low for most of 2015 until recently, we revised our refinance originations estimate upward for both the first and second quarters due to higher than expected MBS issuance data and strong refinance applications in the months of February, March, and April.”In his commentary, Kan mentions that refinances are expected to be $551 billion in 2015, compared to a previously estimated $510 billion. MBA now estimates a total of $1.28 trillion in mortgage originations for 2015, compared to $1.12 trillion in 2014. Purchase originations are expected to increase to $730 billion in 2015 from $638 billion in 2014.“The BEA’s advance estimate of first quarter growth was a paltry 0.2 percent, the slowest quarter of growth since the first quarter of 2014,” Kan said. “We and others are becoming increasingly skeptical that the government’s seasonal adjustment process is fully capturing typical first quarter weakness.  This is another reason we are less worried by slower reported growth in Q1.”Although interest rates have been low mostly placing concern on economic growth, the MBA expects rates to increase through the course of the 2015 and the Fed will raise rates in September as the economy and job market grow stronger. Demand Propels Home Prices Upward 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Related Articles in Daily Dose, Featured, Market Studies, News Subscribe Home / Daily Dose / Temporary Factors Slowed Economic Growth in Q1, Analyst Says Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Xhevrije Westlast_img read more

Analyzing Mortgage Customer Retention and Delinquency Rates

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Customers Refinance Servicers 2019-05-06 Seth Welborn Demand Propels Home Prices Upward 2 days ago Subscribe Servicer retention hit a record low in Q1 2019 as customer retention became increasingly difficult, according to the latest Black Knight Mortgage Monitor report. Black Knight notes that around 18% of borrowers remained with the same servicer post-refi, the first time the retention rate has dropped below 20% since at least 2005.Black Knight states that customer retention has become increasingly difficult as a volatile refinance market and greater rate sensitivity shrink the number of remaining refinance candidates, further heightening competition.According to Black Knight’s Data & Analytics Division President Ben Graboske, low retention rates have created some challenges.”In Q1 2019, fewer than one in five homeowners remained with their prior mortgage servicer after refinancing their first lien,” Graboske said. “That is the lowest retention rate we’ve seen since Black Knight began tracking the metric in 2005. Anyone in this industry can tell you that customer retention is key—not only to success, but to survival.”Graboske notes that, with the slight increase in the 30-year fixed rate, around a million homeowners lost the incentive to refinance.“This is critical, because refinances driven by a homeowner seeking to reduce their rate or term have always been servicers’ ‘bread and butter’ when it comes to customer retention,” Graboske added. “Offering lower rates to qualified existing customers is a good, and relatively simple, way to retain their business. Unfortunately, the market has shifted dramatically away from such rate/term refinances.”Black Knight’s data for March also notes a continued decline in delinquencies and forelclosures. The Mortgage Monitor report reveals that the delinquency rate declined by 5.3%, the smallest decline for any March in six years, while foreclosure starts fell by 1.5%. According to Black Knight, March’s 39,700 foreclosure starts represented the lowest single-month total in more than 18 years, down 24% year-over-year.The Mortgage Monitor report notes that March’s “lackluster” delinquency improvement can be attributed in part to the month ending on a Sunday, which has historically slowed mortgage performance. Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Customers Refinance Servicers The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Analyzing Mortgage Customer Retention and Delinquency Rates Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Home / Daily Dose / Analyzing Mortgage Customer Retention and Delinquency Ratescenter_img About Author: Seth Welborn  Print This Post The Best Markets For Residential Property Investors 2 days ago Previous: The Week Ahead: Bringing Together Law Firms and Mortgage Servicers Next: How the Great Recession’s Foreclosures Impacted Voter Turnout Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Foreclosure, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago May 6, 2019 2,304 Views last_img read more

What Do Trade Tensions with China Mean for Housing?

first_img Previous: How a New Law Affects Ginnie Mae’s VA Securities Next: Measuring Millennial Housing Debt Monday was not a good day on Wall Street. Following comments by President Donald Trump, who added logs to an already growing fire that is a trade war with China as he announced plans for a 10% tariff on $300 billion worth of Chinese imports to begin September 1, the Dow Jones fell 767 points, the S&P 500 slid almost 3%, and the Nasdaq dropped more than 3%. Chinese officials then added gasoline to the fire, by letting the yuan drop to its lowest level against the U.S. dollar in more than a decade. Trump tweeted the following in reaction to the yuan’s historic fall: “China dropped the price of their currency to an almost historic low. It’s called ‘currency manipulation.’ Are you listening Federal Reserve? This is a major violation, which will greatly weaken China over time!” While the market began its recovery on Tuesday—Dow Jones traded 57 points higher, S&P 500 increased 0.3%, and the Nasdaq grew 0.4%—its impact on the housing market is a bit more complicated. “Sharp and deep stock declines reduce confidence among all players in the economy. As such, potential homebuyers may become more cautious about making such a significant and long term financial commitment,” said Tendayi Kapfidze, LendingTree’s Chief Economist. “Others may see their down payment funds decline if they were keeping some of the money in the stock market. The stock decline is accompanied by a significant decline in interest rates so this makes the monthly payments more affordable for buyers who chose to follow through.”Danielle Hale, Chief Economist of realtor.com, said the biggest victims of the market’s decline are luxury homes, since they have “considerably more exposure to stock investments.” Data from Redfin revealed the market for luxury homes increased, although slightly, in Q2 2019. Average sales prices for luxury homes grew 1% year-over-year to $1.64 million, bouncing back from a 1.7% drop in Q1 2019. “However, a possible secondary impact on the broader housing market can happen if the stock drop hits consumer confidence,” Hale said. “Even though most Americans have fairly minimal exposure to the stock market, its performance is widely covered in financial and mainstream news, and thus a prolonged or severe drop in the markets can rattle the confidence of consumers and homebuyers even if they have little direct exposure to stocks. So far, confidence has remained high, but the situation is still developing.” Kapfidze said tariffs on Chinese goods, specifically those related to homebuilding, will be passed through the cost of new construction and renovations. He added the sector that could be hit the hardest are lower-priced homes, as “thin margins on lower-priced homes will shrink further.” “This will exacerbate the inventory challenge at the lower end of the housing market, accelerating prices here beyond the added tariff expense, and worsening the affordability and availability problems in this part of the market,” Kapfidze said. A report by the National Association of Home Builders (NAHB) in June stated the tariffs on $10 billion worth of materials has contributed to the nation’s affordability issues. The NAHB states that regulations account for 25% of the price of a single-family home. “Removing regulatory barriers that contribute to the increased costs of housing will pave the way to homeownership,” said NAHB Chairman Greg Ugalde, a builder and developer from Torrington, Connecticut. “Home builders and the residential construction community are committed to working with Congress to ensure homeownership is within reach of hard working families.”Hale added that while companies can initially absorb increased costs, prolonged tariffs will “eventually be passed onto consumers in the form of higher costs.” “Even if the building materials can ultimately be sourced domestically, the higher costs will be passed on to consumers, making it more challenging for builders to build affordably,” she said. The fall of the yuan could have a positive impact on the U.S. dollar, according to Kapfidze, who added an ongoing trade war will likely strengthen the U.S. dollar as investors seek greener pastures. Information by the National Association of Realtors (NAR) found that the total value of homes purchased by foreign buyers from April 2018 to March 2019 fell 36%. Investment by Chinese buyers saw the biggest decline, with investors buying $13.4 billion over the past year—a 56% annual decline. “The trade war has already resulted in a significant devaluation of the yuan, which has a huge impact on the calculus of investing in real estate in the United States,” Hale said. “This will certainly dampen demand from Chinese buyers. It remains to be seen what impact this will have on buyers from other countries. The dollar and U.S. real estate continue to perform solidly, and this will attract investors looking for long-term performance despite the fact that they may face higher buy-in costs.”While the market will attract foreign investors, Hale added that trade issues will have an impact on affordability. Although tariffs will raise prices of building materials and appliances, Hale said mortgage rates could fall due to economic turmoil.  “Mortgage rates have already declined notably and are likely to continue to remain low as long as the uncertainty and trade turmoil persists,” Hale said. “This will help buyers looking to finance their home purchase, a benefit to primary home buyers, who typically finance, whereas second homes, investors, and international buyers, who tend to use cash, may not buy as many homes at higher prices.”CNBC reported Monday that the average rate for a 30-year fixed-rate mortgage fell to 3.7%. Moving forward, Kapfidze said it best, noting, “nobody knows what will happen” and that time is running out for a deal that will support the economy in time for the 2020 election. “Even if a deal were reached at the next scheduled meeting in September, it would take time for the details to be ironed out and thus the disruptions to supply chains would continue,” he said. “Thus, even a good deal could be viewed as a failure during the next election as it won’t have had time to work.” Kapfidze said the President is “getting more desperate” for deeper and faster rate cuts from the Feds, who slashed rates for the first time in nearly a decade on July 31. “Thus the overall rate situation for housing will improve, but the turmoil will a blow to confidence,” Kapfidze said. “Confidence should trump rates and thus I’d expect some weakness in housing from this point.”  About Author: Mike Albanese The Best Markets For Residential Property Investors 2 days ago Tagged with: Housing Market 2019 Investors Stocks Demand Propels Home Prices Upward 2 days ago Housing Market 2019 Investors Stocks 2019-08-06 Mike Albanese Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Related Articles Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img What Do Trade Tensions with China Mean for Housing? August 6, 2019 2,295 Views  Print This Post The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / What Do Trade Tensions with China Mean for Housing? 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Gardai investigate Annagry incident which left man with serious injuries

first_img Previous articleEvidence concludes in Fr Eugene Boland trialNext articleFianna Fail launches scathing attack on new Mayor News Highland Gardai investigate Annagry incident which left man with serious injuries Google+ Three factors driving Donegal housing market – Robinson Facebook Newsx Adverts Pinterest Help sought in search for missing 27 year old in Letterkenny Gardai are investigating an incident at a party in Annagry early this morning, during which a 19 year old man sustained serious injuries.The man, believed to be from the Gweedore area, is seriously ill with head injuries in the ICU at Letterkenny General Hospital.Gardai cordoned off the scene of the incident today and the area has been forensically examined.Investigations are continuing. Calls for maternity restrictions to be lifted at LUH Twitter Google+center_img Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly WhatsApp By News Highland – June 25, 2012 448 new cases of Covid 19 reported today Facebook Twitter WhatsApp RELATED ARTICLESMORE FROM AUTHOR Pinterestlast_img read more

Pearse Doherty TD says Spain got a better bailout deal than Ireland

first_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebook Pinterest Pearse Doherty TD says Spain got a better bailout deal than Ireland Google+ Calls for maternity restrictions to be lifted at LUH Facebook Google+ Junior Finance Minister Brian Hayes says Europe could be getting to the end of the financial crisis.It follows yesterday’s 100 billion euro Spanish bailout making it the fourth EU country to seek financial aid.There’s now growing calls for Ireland to renegotiate it’s deal with the Troika.But Minister Hayes says the Government want an EU wide solution that applies to every country.Meanwhile Sinn Féin Finance spokesperson Pearse Doherty said that the loans were to be provided “at a lower cost, with no additional austerity or loss of sovereignty”.The Donegal deputy challenged the government to explain “why it was not able to secure these kinds of terms when the Spanish government could”. Twitter RELATED ARTICLESMORE FROM AUTHOR NPHET ‘positive’ on easing restrictions – Donnelly center_img Previous articleinvestigation launched into Dungloe apartment block fireNext articleDeutsche Bank figures show the high level of vacant property in Donegal News Highland Guidelines for reopening of hospitality sector published Newsx Adverts Twitter WhatsApp By News Highland – June 10, 2012 Three factors driving Donegal housing market – Robinson WhatsApp Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this weeklast_img read more

Gardai will seek to adjourn Donaldson inquest for the 15th time

first_img Pinterest Gardai will seek to adjourn Donaldson inquest for the 15th time Nine Til Noon Show – Listen back to Wednesday’s Programme Facebook Pinterest RELATED ARTICLESMORE FROM AUTHOR Twitter Calls for maternity restrictions to be lifted at LUH Three factors driving Donegal housing market – Robinson Denis DonaldsonIt’s emerged that the state has applied to adjourn the Inquest into the circumstances surrounding the death of Denis Donaldson for the 15th time.Solicitors Madden and Finucane say the family was informed that Gardaí would be applying to further adjourn the Inquest “due to their continuing investigations into the death of Mr Donaldson.”Dennis Donaldson was shot dead at his cottage near Glenties in April 2006, four months after he was revealed as an MI5 intelligence agent.In a statement issued on behalf of the family, Madden and Finucane say in the 9 years since Denis Donaldson was killed, Gardaí have repeatedly given assurances in relation to the scope, timeline and expected duration of their investigation together with when the Director of Public Prosecutions will ultimately direct on their submitted file.However, the say as this latest adjournment application underlines, many of those undertakings have been proved to be utterly worthless and highlight the failure to hold the Gardaí to account for their conduct of this investigation.Claims have also been made in relation to the readiness of the Gardaí to co-operate with the investigation currently underway by the Office of the Police Ombudsman for Northern Ireland into the circumstances surrounding the death of Denis Donaldson.The family believe that Gardaí continue to withhold from the Ombudsman a copy of Denis’ journal that was being prepared by him immediately prior to his murder.For the family, the wilful obstruction of another Law Enforcement Agency’s investigation into the circumstances behind Denis’ death serves to further underline that the interests and rights of the Donaldson family are not respected or protected by the Gardaí By News Highland – February 18, 2015 Google+center_img Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Facebook Guidelines for reopening of hospitality sector published WhatsApp Twitter GAA decision not sitting well with Donegal – Mick McGrath Homepage BannerNews Previous articleLGH cancelled over 60 surgeries last month because of overcrowdingNext articleChildren’s Outreach Nurse to be appointed in Donegal this year News Highland last_img read more

Derry’s Peace Bridge collects top planning award

first_img Derry’s Peace Bridge has won a top planning award, from the Irish Planning Institute.The Bridge, designed to link both banks of the River Foyle, took the Overall Award along with the former British Army Ebrington Barracks in a project submitted by the Ilex Regeneration Company.The biennial Awards were presented at a ceremony in the Custom House by the Minister for Planning, Jan O Sullivan today.Head of Communications with Ilex, Mo Durkan, says they will now go forward and to represent Ireland at the European Awards:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/02/mo830bridge.mp3[/podcast] Derry’s Peace Bridge collects top planning award Man arrested in Derry on suspicion of drugs and criminal property offences released Twitter Newsx Adverts Facebook Dail to vote later on extending emergency Covid powers By News Highland – February 17, 2012 Twitter Pinterest WhatsApp Facebookcenter_img WhatsApp Google+ Previous articleGovernment says A5 upgrade possible because we don’t have a united IrelandNext articleFailte Ireland: Donegal golf courses could attract thousands of tourists News Highland Google+ Need for issues with Mica redress scheme to be addressed raised in Seanad also Dail hears questions over design, funding and operation of Mica redress scheme Minister McConalogue says he is working to improve fishing quota RELATED ARTICLESMORE FROM AUTHOR 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Pinterestlast_img read more

999 operators strike in Navan, Ballyshannon centre operating as normal

first_img Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest Homepage BannerNews Dail hears questions over design, funding and operation of Mica redress scheme WhatsApp 999 operators strike in Navan, Ballyshannon centre operating as normal Dail to vote later on extending emergency Covid powers Man arrested in Derry on suspicion of drugs and criminal property offences released Previous articleDonegal psychologist shortage is affecting vulnerable adults – DohertyNext articleGardai probe weekend gun attack at Ray Bridge admin By admin – April 7, 2016 Twitter Google+center_img RELATED ARTICLESMORE FROM AUTHOR Facebook Google+ Twitter Pinterest Workers at one of Ireland’s 999 call centres are on strike again today.The operators at the facility in Navan are taking the action in a long standing row over pay and union recognition.Unions involved in the row say they want every member of staff to be given a living wage of 11.50 per hour – something contractor Conduit Global says it’s already agreed to.Patients requiring emergency services today will NOT be affected by the action, with operators working as normal in the Ballyshannon and Dublin centres.Ian McArdle of the Communications Workers Union says Conduit could have avoided the strike……Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/04/999mccardle.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebook WhatsApp PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal HSE warns of ‘widespread cancellations’ of appointments next week last_img read more

Varadkar rules out coalition with Sinn Fein unless Adams owns up about past

first_imgNews By News Highland – July 23, 2014 WhatsApp Pinterest Dail to vote later on extending emergency Covid powers Pinterest A Fine Gael minister says Sinn Féin can’t be part of a government until Gerry Adams admits his role in the Troubles.Speaking at the MacGill Summer School in Glenties, Leo Varadkar says Sinn Fein mustn’t trust the public if it refuses to discuss Mr Adams’ alleged role within the IRA.The Sinn Fein president has always denied being a member of the IRA.But Leo Varadkar says Sinn Féín will never be trusted by the public unless it comes clean about its past: Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/07/08vara1.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter HSE warns of ‘widespread cancellations’ of appointments next week Facebook 365 additional cases of Covid-19 in Republic Google+ Facebook Google+ Previous articleKayak raised by a whale on Argentinian coastNext articleSinn Féin’s deputy leader says Fianna Fáil and Fine Gael should go into government News Highland WhatsApp PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Twitter Man arrested on suspicion of drugs and criminal property offences in Derry RELATED ARTICLESMORE FROM AUTHOR Varadkar rules out coalition with Sinn Fein unless Adams owns up about past Man arrested in Derry on suspicion of drugs and criminal property offences released last_img read more

Appeals against Omagh bomb to go ahead after legal aids granted to four held…

first_img RELATED ARTICLESMORE FROM AUTHOR Further drop in people receiving PUP in Donegal Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest Appeals against Omagh bomb to go ahead after legal aids granted to four held liable Google+ Appeals against the Omagh bomb civil action are to go ahead after legal aid was granted to all four men held liable for the atrocity.Judges were told funding has been secured for each of the dissident republican suspects – including Liam Campbell, the alleged Real IRA chief who was undefended at the original trial.Victims’ families who brought the lawsuit have also received backing to press for a more punitive award of exemplary damages against those deemed responsible.A hearing is now expected to take place later this year, with lawyers predicting it could last for two weeks.In a landmark ruling last June Mr Justice Morgan, now the Lord Chief Justice, ordered that more than £1.6m in total should be paid out to 12 relatives who sued over the August 1998 bombing which claimed 29 lives and injured hundreds more.Liam Campbell, who is currently in custody facing a bid to have him extradited to Lithuania on arms smuggling charges, was held to be a member of the Real IRA’s Army Council at the time of the bombing.Jailed dissident leader Michael McKevitt and two other men, Colm Murphy and Seamus Daly, were also found responsible for the bombing following a year-long civil trial.Campbell initially directed lawyers to defend him in the case before he withdrew from proceedings at an early stage.But with legal aid secured, two barristers have been instructed to challenge the finding against him.His solicitors are also now set to trawl through the original trial transcripts to identify all references to him as part of their case.Judges in the Court of Appeal were told that McKevitt is seeking records from the hearings held in Dublin during the action.Mary Higgins QC, for Daly, asked for two weeks to be set aside for the appeal.After hearing submissions Lord Justice Higgins set all sides an end of term deadline to secure the materials required. Facebook Facebook News Google+ 365 additional cases of Covid-19 in Republic center_img Pinterest WhatsApp Previous articleDecision due on Donegal man’s challenge to mandatory life sentenceNext articleDonegal members commemorated in national Garda memorial News Highland By News Highland – May 14, 2010 Twitter WhatsApp Main Evening News, Sport and Obituaries Tuesday May 25th Twitter 75 positive cases of Covid confirmed in North Gardai continue to investigate Kilmacrennan firelast_img read more