Despite hitting a soft spot in the first quarter, home sales are expected to make a strong showing in the second half of 2014, says NAR’s chief economist.
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“The continued cautious sentiment expressed across the range of consumer indicators this month gives weight to our view that the first phase of the housing recovery is decelerating, and 2014 will be a year of mixed housing outcomes,” according to Fannie Mae’s latest housing report.
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About 16 percent of 350 metro areas tracked nationwide have returned or exceeded their last normal levels of economic and housing activity, shows the latest Leading Markets Index.
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Millions of customers with home equity lines of credit are expected to see their payments rise in the coming years, but lenders don’t believe these customers pose as much risk to the housing market as they originally feared.
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Borrowing costs inched up moderately on fixed-rate mortgages, but still remain lower than last year’s averages
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The addition of rental payment data to credit files may help more potential renters become home owners.
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