Grossmont Center Reimagined

Bidding Wars Wane in U.S. Housing Markets on Supply Rise

Source: Bloomberg

Higher mortgage rates and an increase in values are reducing affordability, while also encouraging more sellers to list their properties. This could mean price growth will slow after the biggest increases since 2006. The government shutdown may have weakened confidence as well.

Read the full story

http://www.bloomberg.com/news/2013-11-14/bid-wars-wane-in-u-s-housing-markets-on-supply-rise-mortgages.html

Recovery Hampered Until Lawmakers Focus on Housing Policy
Source: DSNews.com The Opportunity Agenda, National Fair Housing Alliance, and the National Association of Real Estate Brokers (NAREB) have released a new report that argues U.S. housing policy is broken because the government has failed to provide millions of would-be homeowners the credit and financing they need to achieve the American Dream. The report calls for 10 administrative actions that the Federal Housing Finance Agency (FHFA) should take. Read the full story:
http://www.dsnews.com/articles/hgjh-2013-11-15

Bureau updates mortgage disclosures
Source: The HillRules requiring simplified mortgage paperwork will take effect in August 2015. The “know before you owe” forms are designed to make sure borrowers understand their options and know what to expect when they take out home loans. Read the full story: http://thehill.com/blogs/regwatch/finance/190937-bureau-updates-mortgage-disclosures