TALKING POINTS....Fed's ease standards

REAL ESTATE TOPICS

HIGH HOUSING COSTS ARE A DRAG ON CALIFORNIA'S ECONOMY, REPORT SAYS
Source: L.A. Times

A shortage of housing – especially at affordable prices – is becoming a bigger drag on the state’s economy, according to a new report from forecasting firm Beacon Economics. That being said, the pace of home sales in California should pick up in the second half of this year and into next. The firm predicts annual price growth of 4 to 6 percent for the next two years, a more sustainable pace than the double-digit gains seen for much of the last two years.

FED SURVEY: MORTGAGE STANDARDS EASE FOR FIRST TIME SINCE HOUSING BUST
Source: Wall St. Journal

Nearly one in four U.S. banks said they had eased mortgage-lending standards for borrowers with strong credit during the second quarter, the largest such movement by lenders since the housing bust hit nearly eight years ago. Demand for prime mortgages rebounded to its highest level in a year, according to the Fed survey, offering a hopeful sign for housing markets that have stumbled during the first half of the year.

MOVING FROM RENTING TO HOMEOWNERSHIP COULD GET EASIER
Source: HousingWire

 

For some potential homeowners, adding in rental history to a credit score could make all the difference in securing a mortgage. In a survey of 20,000 people in government-subsidized housing, 59 percent of that group would have prime credit scores if rental history was added to credit score evaluations. Notably, it was reported earlier this summer that mortgage lenders might start considering rent payment history in credit scores.

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