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Metro Phoenix’s homebuilding recovery won’t ramp up again until 2015, and then it will play out mostly in the West Valley.
The latest forecast comes from some of the region’s top developers, builders, investors, brokers and analysts at the Scottsdale-based Land Advisors Organization’s annual real-estate conference on Wednesday.
New-home permits will climb as high as 18,000 next year, and the number of homes built in the southeast Valley will decline, Land…Continue
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 6.96 percent of all loans outstanding at the end of the second quarter of 2013, the lowest level since mid-2008. The delinquency rate dropped 29 basis points from the previous quarter, and 62 basis points from one year ago, according to the…
One of the most significant effects of the nation's housing bust has been the swelling ranks of underwater borrowers trapped in homes worth far less than they are worth.
But thanks to sustained rises in home prices, the number of homeowners stuck in the negative equity trap is dwindling. According to analytics firm CoreLogic, 100,000 borrowers edged into the positive equity territory in the third quarter of 2012, adding to the more than 1.3 million borrowers that…Continue
The Consumer Financial Protection Bureau topped off a week of mortgage rule rollouts by launching the agency's guidelines for loan officer and broker compensation Friday.
Among other provisions, the CFPB's final rule keeps originators from steering borrowers into risky and high-cost loans, ends dual compensation from both the consumer and creditor and bans the attachment of mandatory arbitration agreements to mortgage and home equity…Continue