Daily Dose

The results of Fannie Mae's April National Housing Survey show 42 percent of Americans believe now is a good time to sell a home. This is the third straight month that the percentage of respondents saying it’s a good time to sell has increased, bringing that percentage to an all-time survey high. Fannie is taking it as a good sign that buying activity will increase in the coming months, as potential buyers may look to shed their homes in order to buy new ones.

Looking back a quarter, TransUnion says new account originations in Q4 2013 totaled just 1.39 million, down by nearly a million from Q4 2012. While overall new loan activity was slow, participation increased among the non-prime population—defined by TransUnion as those with a credit score lower than 700 on the company’s VantageScore 2.0 model.

While the sudden stop in economic growth in this year’s first quarter might have some market-watchers sending up red flags, Federal Reserve Chair Janet Yellen isn’t especially concerned. One warning sign has caught her eye, however: housing. Faced with recent sales figures, the Fed chief admitted, “[T]he recent flattening out in housing activity could prove more protracted than currently expected rather than resuming its earlier pace of recovery.”

A top official for the Federal Housing Finance Agency (FHFA) is looking at a felony charge for allegedly threatening the agency's former acting director, Edward DeMarco. According to a case summary from the District of Columbia Courts website, Richard Hornsby, FHFA's COO, was charged in late April with "[threatening] to kidnap or injure a person," resulting in an order for him to stay away from DeMarco.

Per a settlement announced with the Federal Housing Finance Agency (FHFA), First Horizon National Corporation has agreed to pay a combined $110 million to Fannie Mae and Freddie Mac to resolve alleged violations of securities laws connected to private-label securities purchased by the GSEs from 2005–2007. The settlement is the 14th of its kind, bringing the agency closer to closing the book on 18 suits filed in 2011.

According to the National Association of Home Builders' Leading Markets Index (LMI), 59 metros have fully returned or even exceeded their last normal levels of both economic and housing activity. Overall, the nationwide economic score rose slightly to 0.88 from a revised April reading. "This means that based on current permit, price and employment data, the nationwide average is running at 88 percent of normal economic and housing activity," the group said.

Home prices continued to rise in March, but at a markedly slower pace compared to February, CoreLogic reported in its latest Home Price Index. According to the company, prices were up 11.1 percent nationally year-over-year in March, with growth expected to slow to an annual rate of 6.7 percent by the same time in 2015. Both figures include distressed sales.

In a survey of more than 2,000 adults, Trulia found an estimated 41 percent “would strongly or somewhat prefer” to buy a new single-family home over an existing one, assuming the prices were equal. Just more than one in five respondents—21 percent—said they would prefer an existing home, while 38 percent expressed no preference. Of course, while the survey set prices on a level field to gauge interest, that’s very rarely the case.

Wells Fargo's April data suggests consumer sentiment slipped in Florida one point to 79 for the month, largely due to increased concerns about current economic conditions. The concern, both locally and nationally, outweighed a slight increase in confidence about future conditions for the economy as a whole. The Florida index largely reflected the nation's attitude, with the overall index dropping slightly to 82.3.

A newly released survey of senior loan officers around the country finds credit standards remained largely the same on basic prime mortgage products over the latest quarter, while demand came in weaker. On the topic of subprime loans: On net, the handful of banks offering such products reported tightening, though more than half still said standards changed little.