Monday, January 16, 2012

Housing News Digest, January 16

Net in-migration to Colorado from other states growing
The two couples are among the 31,195 people the U.S. Census Bureau estimates relocated last year to Colorado from other states, after subtracting out those who left. The figures don't include immigrants moving to the state from outside the U.S.

Colorado ranked fifth among states for domestic net migration, in total numbers, after Texas, Florida, North Carolina and Washington.

Peoples Mortgage buoyed by refinancings, better housing market

Peoples Mortgage Corp. has hired 150 people during the past three years as the Colorado Springs-based lender has expanded into the Boulder, Denver and Fort Collins areas and benefited from a wave of mortgage refinancing and slowly improving local housing market.

Mortgage lending by Peoples statewide more than doubled between 2009 and 2011 to 3,249 loans totaling $710 million with more than half of its loan volume coming from the Colorado Springs area and about 60 percent coming from homeowners refinancing mortgages to take advantage of low mortgage rates, Peoples CEO Steve Stingley said Friday.

Fannie, Freddie overhaul unlikely

An overhaul of Fannie Mae and Freddie Mac is unlikely again this year despite recent Republican efforts to move the issue up the agenda.

Congressional Republicans, along with some Democrats — and even GOP presidential candidate Newt Gingrich — are renewing calls to craft an agreement to reduce the involvement of Fannie and Freddie in the nation's mortgage market.

But without a broader accord, passage of any legislation this year is slim, housing experts say.

Fed to Weigh Further Easing Amid Doubts About Recovery

Federal Reserve officials are seriously considering giving the US economy—and especially the housing market—an added jolt with more quantitative easing.

Fed officials are likely to discuss such a move at their Jan. 24-25 meeting, when the central bank [cnbc explains] will issue its first quarterly forecast on interest rates under the new communication policy.