The National Association of Realtors (NAR) reported this morning that January Existing Home Sales fell by 5.1% from December to an annual rate of 4.62 million units. The NAR cited prolonged winter weather patterns, tight credit, limited inventory, higher prices and higher mortgage rates for the drop. The median home price was $188,900, up 10.7% from January 2013.
Fannie Mae reported net income of $6.5 billion the latest quarter and earned a record $84 billion for 2013. Fannie also paid the Treasury $7.2 billion, pushing its bailout payback to a total of $121.1B, compared with the $116.1B of federal aid it received. Fannie Mae cited the return to profitability to the recovery in the housing sector and as it raised fees. Fannie Mae and cousin Freddie Mac provide liquidity to the mortgage market by buying loans and packaging them into guaranteed securities.
The Mortgage Bankers Association reported yesterday that the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 6.39% of all loans outstanding at the end of the 4th quarter of 2013, the lowest since the 1st quarter of 2008. The delinquency rate includes loans that are at least one payment past due, but does not include loans in the process of foreclosure.
Existing Home Sales decline. Record 2013 earnings for Fannie Mae. Delinquency rate for mortgage loans continue to decline.
The National Association of Realtors (NAR) reported this morning that January Existing Home Sales fell by 5.1% from December. Fannie Mae reports it had record earnings in 2013 and has paid back the Treasury all of the bailout money. The Mortgage Bankers Association reported yesterday that the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased at the end of the 4th quarter of 2013.
The National Association of Realtors (NAR) reported this morning that January Existing Home Sales fell by 5.1% from December to an annual rate of 4.62 million units. Fannie Mae reported net income of $6.5 billion the latest quarter and earned a record $84 billion for 2013. The Mortgage Bankers Association reported yesterday that the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 6.39% of all loans outstanding at the end of the 4th quarter of 2013, the lowest since the 1st quarter of 2008.
First-time Homebuyer Information at Sierra Pacific Mortgage
