Bucking trend, REOs show price gains: Clear Capital

REO prices have risen 5.5 percent over the last year, whereas market sales prices have fallen 2.9 percent, Clear Capital reports in its April housing data index. Investors are snatching up REOs, fueling price gains for distressed properties.

U.S. quarter-over-quarter home prices post 4.1% gains off 2011 winter lows. All four regions still experiencing yearly declines. The Midwest was hit the hardest, experiencing a -13.1% price change. The national REO saturation rate (28.0%) continues to improve, down 5.7 percentage points from last quarter.

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Gasoline and heating oil led gains on the CRB by rising about 2 percent each. Nickel, corn and cotton climbed about 1 percent. However, Arabica coffee bucked the trend. help to support prices,".

Two Harbors markets first private RMBS NEW YORK, February 6, 2018 – Two Harbors Investment Corp. (NYSE: TWO), a leading hybrid mortgage real estate investment trust (REIT) that invests in residential mortgage-backed securities (RMBS), mortgage servicing rights (MSR) and other financial assets, today announced its financial results for the quarter ended december 31, 2018.

Bucking trend, REOs show price gains: Clear Capital FDIC Boosts Key Staff by 140 Ahead of Expected Bank Failures Paul Jackson is the former publisher and CEO at HousingWire.

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National home prices lost ground with declines of 1% over the past year, but REO demand – fueled by enthusiastic investors – showed price gains, Clear Capital said in its April home data index.

The West saw a notable jump in quarterly prices, which left it leading all the regions with a 2.7 percent quarterly price gain. The yearly gain for the West was 1.9 percent, according to the latest data. Clear Capital noted that fueling the price gains in the West was an apparent shift in demand.

Clear Capital took a granular look at the Washington, D.C. metro in its study to illustrate the "locality" of real estate price trends. The District posted a 2 percent quarterly increase in home prices and 6.7 percent yearly gain in Clear Capital’s latest survey.

Mortgage apps barely move for second week in a row Mortgage Apps Post Another Listless Week aug 29 2017, 7:57PM Applications for both home purchase mortgages and refinancing declined last week, pulling overall volume lower for the second week in a.MSR sale lifts Wells Fargo stock We are going to go through a period where home sales are extremely depressed before we see a recovery take hold, probably late this year,” said Mark Vitner, senior economist at Wells Fargo Securities.

Clear Capital(TM) Reports Resurgence in the Rust Belt Amidst Limited U.S. Home Price Gains. Detroit’s 14.1% Quarterly Price Gain Tops All Major U.S. Markets, Surpassing Five-Month Leader Cleveland.