The jury is still out on whether new regulations are slowing down mortgage lending. It could just be the weather.
Purchase mortgages are down 15% from MBA forecasts, but this winter's inclement weather is at least partly to blame.
Mortgage Bankers Association says its index showed uptick.
Mortgage applications rose during week ending 10/11, but applications for purchase money dropped, association said.
In South Florida, 69% of all home sales this summer were cash, with a statewide rate of 66% according to data from RealtyTrac.
Mortgage Bankers Association says 25% of home sales currently are cash deals.
Trade group says data show lending standards are tightening.
The U.S. housing finance market may be poised for a historic shift away from a long trend of primarily refinancing existing real estate loans to primarily funding new real estate purchases.
CUNA economist on panel of industry experts selected by Rep. Maxine Waters (D-Calif.) to discuss finance reform legislation.
CUNA Chief Economist Bill Hampel will be among panelists at a congressional discussion on plans to reform the secondary mortgage market.