Mortgage default rates are showing improvement, shadow inventory is stabilizing, home ownership more affordable than renting, the FHFA to finalize Fannie and Freddie monitoring, and more in today's news round-up!
Power Lines' Impact on Sales Depends on Property l Appraisal Institute
"Transmission lines are more likely to have a negative impact on sales when a property has a residential use or small lot size, or when similar properties without transmission lines are available in the market, The Appraisal Journal reported March 20 in the article "High-Voltage Transmission Lines and Rural, Western Real Estate Values" by James A. Chalmers, ..."
FHFA to Finalize Fannie, Freddie Mortgage Monitoring l Appraisal Institute
"The Federal Housing Finance Agency will take a year to finalize its process for monitoring Fannie Mae and Freddie Mac mortgage underwriting guidelines, HousingWire reported March 21."
MBA: Rising Interest Rates Could Dampen Housing Rebound l Appraisal Institute
"As Treasury yields continue to rise and point to a strengthening economy, the housing market could soften slightly, The Wall Street Journal reported March 22."
Trulia: Homeownership More Affordable than Renting l Appraisal Institute
"Purchasing a home is cheaper than renting in 98 out of the 100 largest U.S. metropolitan areas — even in New York City, Los Angeles and Boston — according to Trulia's Winter 2012 Rent vs. Buy Index released March 21."
CoreLogic: Shadow Inventory Stabilizing l Appraisal Institute
"Shadow inventory stood at 1.6 million units in January, representing a six-month supply, CoreLogic announced March 21. Total inventory is approximately the same as reported in October 2011 and January 2009, but is well above the 380,000 properties listed at the peak of the housing bubble in mid-2006."
Mortgage Default Rates Show Improvement l Appraisal Institute
"The default rate for first mortgages decreased 0.06 percentage points in February to 2.02 percent, while the default rate for second mortgages fell 0.1 percentage points to 1.2 percent, Experian reported in a March 20 news release."
Critical closing issues hang in balance l The Title Report
"The opening day general session at the 2012 ALTA Business Strategies Conference focused heavily on the CFPB, the new settlement disclosure forms and the rule-making process."