This month, the Federal Open Market Committee (FOMC) will consider again whether to increase the benchmark Federal Funds Rate for a third time this year. As I stated when the FOMC was contemplating a rate increase earlier this year, increasing the short-term Federal Funds rate has little impact on longer term rates like the 30-year, fixed-rate ... Read More ›

First American’s proprietary Potential Home Sales model examines August 2017 data and includes analysis from First American Chief Economist Mark Fleming on how the real estate market is performing versus its potential. Read More ›

We’ve said it before and we’ll say it again – the shortage of houses on the market is making it difficult for Americans to find homes to buy, which is especially concerning for the Millennial first-time home buyer. There are many possible reasons for the housing supply shortage, ranging from fear of paying a higher mortgage rate to insufficient ... Read More ›

As Hurricane Harvey’s flood waters finally recede, the degree of damage is becoming more apparent. The most recent estimates indicate that flood damage could be assessed as high as $37 billion and that 70 percent of that damage is to property that is uninsured. According to the Federal Emergency Management Agency (FEMA), more than 30 counties and ... Read More ›

First American’s proprietary Potential Home Sales model examines July 2017 data and includes analysis from First American Chief Economist Mark Fleming on how the real estate market is performing versus its potential. Read More ›

We’ve posted the June First American Loan Application Defect Index, which estimates the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications. The Defect Index increased 1.2 percent in June 2017 as compared with the previous month, and increased 16.7 percent as compared to June 2016. The ... Read More ›