5-1s Are Back, Affordability Drops, FHA Servicing Transfer, Bubbles?, Originators, Pocket Listings, Investor Pullback, Mel Watt, CA Sales Stats, Days on Market


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(graph and chart) Missed that 3.5% mortgage rate? That’s OK, there is always the 5/1 ARMSober Look Blog 

Rise in rates, home prices threaten affordability – By Brena Swanson – … Jeffrey Rosenberg, chief fixed-income strategist at BlackRock, commented in the article saying higher payments made new mortgages less affordable. He added, “Housing has been held up by falling rates, not by rising incomes. Without rising incomes, this puts some concern into the sustainability of the housing recovery.” … – Housingwire

FHA wants authority to transfer loan servicing to prevent risk of losses – By Kerri Ann Panchuk – Housingwire 
(home prices) Commentary: We’re Forever Seeing Bubbles – BY: MARK LIEBERMAN – DS News 
Homeowners spending cautiously as values surge – By Andrew Khouri, Los Angeles Times  – Consumers, using lessons learned from when housing bubble burst, are weighing decisions more carefully, blunting the so-called wealth effect.
Analysts: Short-Term Shaky for Originators, Long-Term Prospects Solid – BY: TORY BARRINGER – The M Report 
Real Estate: Pocket Listings in a Tight Market – by Bill McBride – … From Alejandro Lazo at the LA Times: Motivated home buyers skip the bidding wars … And they’re chasing so-called pocket listings, homes privately marketed among those in the know. The low-profile nature of the listings makes them hard to quantify. But agents and other real estate experts say they’ve become common in the booming Southland market, where the median home price shot up nearly 25% in the last year. … – Calculated Risk
Real estate investor pullback continues to rise – Some investors are dropping out of this year’s resurgent housing market due to rising home prices and an increased competition for housing in many parts of the nation. The investor share of home purchases tumbled from 22% in April to 20.2% in May, based on a three-month moving average, according to the Campbell/Inside Mortgage Finance HousingPulse tracking survey.  – Housingwire 
3 Reasons Why US Home Prices Are Going To Cool Off – MAMTA BADKAR – Business Insider

(60 votes will be hard to get) Confirmation Hearing For FHFA Nominee Mel Watt – by MortgageOrb.com 
(other stats too) California REO sales hit lowest level in six years – By Christina Mlynski – May sales of real estate-owned properties in California fell into the single digits for the second straight month, descending to the lowest level since October 2007, analysts claim. The share of REO sales in the state hit 7.2% in May, down from 9.2% in April and also down 22.8% from a year ago, according to the California Association of Realtors. – Housingwire 
(days on market) We’re at the Seasonal Peak of the Housing Recovery – Mike Simonsen – Altos Research


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