Daily Dose

NeighborWorks' Second Annual America at Home Survey showed that student loan debt and perceived overtightness of lending has prevented or delayed homeownership despite the fact that 60 percent of American adults surveyed said owning a home was either "the most important" or a "very important" part of the American dream.

Home price growth continued in September on an annual basis, while monthly returns have stagnated, CoreLogic reported Tuesday. Including distressed sales, the company's Home Price Index (HPI) increased 5.6 percent in September compared to the year prior, bringing the index's yearly growth streak to 31 straight months.

Pershing Square Capital Management filed a voluntary notice of dismissal in the U.S. District Court for one of its lawsuits against the federal government over the sweeping of GSE profits into the U.S. Department of the Treasury.

In its annual survey of homebuyers and sellers, the National Association of Realtors (NAR) found that only about 33 percent of home purchases in the last year were made by first-time buyers, down from 38 percent in last year's survey and the long-term average of 40 percent.

The Fed's Senior Loan Officer Opinion Survey, which covers a three-month period ending in October, shows credit standards on prime mortgages remained basically steady at 83 percent of reporting banks over the last few months. Of the nearly 14 percent that reported easing their lending criteria somewhat, the vast majority were large banks with assets of $20 billion or more, with only one smaller institution dialing down its standards.

In a continuation of its philanthropic efforts, The Five Star Institute participated as a tournament sponsor for the Texas Neurofibromatosis (NF) Foundation's Texas NF Golf Classic, which took place Monday, November 3, at the picturesque Four Seasons Resort and Club in Irving. The Texas NF Golf Classic is an annual charity golf tournament to raise awareness and funding to fight neurofibromatosis (NF), a neurological disease that affects an average of one in every 3,000 people. It is more prevalent than Cystic Fibrosis and Muscular Dystrophy combined. NF occurs equally in both men and women, in all races and ethnic groups. NF particularly affects children and can cause disfigurement, deafness, blindness, brain tumors, cancer, and even death. There is currently no cure or long-term treatment available for this debilitating disease.

According to Fannie's monthly volume summary, the mortgage giant's book totaled $3.12 trillion as of September 30, representing an annualized growth rate of 1.5 percent compared to August's decline of 4.0 percent.

The Commerce Department reported Monday that construction spending throughout September came in at an estimated seasonally adjusted annual rate of $950.9 billion, down 0.4 percent from August but up 2.9 percent from a year ago.

Measuring its current data on active mortgages throughout the United States, analysts at Black Knight estimate 7.4 million American borrowers with 30-year mortgage loans could benefit by refinancing into a lower interest rate. As of the end of October, the average 30-year fixed rate was 3.98 percent, according to Freddie Mac, just up from a 16-month low recorded earlier in the month.

As the U.S. homeownership rate continues to dwell near its lowest level in two decades, a new study from Zillow suggests more than five million additional households are waiting in the wings to step into the market as the economic recovery trudges forward.