Housing Wire

• RE/MAX: Home prices rise for third consecutive month
  In the 53 metropolitan areas surveyed by RE/MAX, home prices inched up 3.2% from last month, and were up 5.9% from April 2011. read more […]
• More than $500B needed to meet Basel III rules, analysts say
  Analysts at Fitch Ratings estimate the 29 global systemically important financial institutions, or G-SIFI, need to raise $566 billion in common equity in order to satisfy new Basel III capital rules. read more […]
• Fitch predicts housing bottom in 2013
  High unemployment, a declining labor force, stagnant wages, and a large delinquent inventory across many parts of the country are slowing the recovery's momentum, according to the ratings agency. read more […]
• Fannie Mae: Housing activity cools after warm winter
  Warm winter weather pulled housing activity forward, resulting in a disappointing spring, Fannie Mae said. read more […]
• Senate confirms two for Fed board
  The Senate approved Jay Powell and Jeremy Stein to serve on the Federal Reserve Board of Governors, nearly five months after their nomination by President Barack Obama. read more […]
• Bay Area home sales take step toward normalization
  The region had 7,675 new and resale home sales in the nine-county Bay Area last month, compared to 7,694 the previous month and 6,789 a year earlier. The median sales price also edged up 8.9% from $358,000 in March to $390,000 April. read more […]
• MGIC files suit against Freddie Mac
  Mortgage Guaranty Insurance Corp., a subsidiary of MGIC Investment Corp., filed a lawsuit in Federal District Court in Milwaukee against Freddie Mac and its conservator Federal Housing Finance Agency. read more […]
• Architecture Billings Index down for April
  The Architecture Billings Index fell into negative terrain after five months of positive readings. The West had the lowest reading at 48, the Northeast toped the list at 51, and the Midwest and South came in second and third with 50.1 and 49, respectively. read more […]
• Rialto CMBS briskly resolving nonperforming commercial loans
  A recently issued "next big thing" commercial mortgage-backed securitization gained a wave of attention earlier this year for its unique structure and is showing signs that it might be the start of the nation’s cleanup of bad commercial debt. read more […]
• Feds seek higher penalties in lieu of admission of guilt requirements
  Federal regulators rejected the idea of requiring an "admission of guilt" in settlements with financial institutions, but the SEC instead asked for the flexibility to clawback higher penalties. read more […]