The five states that the majority of successful foreclosures took place, the unemployment rate up, Senate Republicans may support HARP expansions, and more in today's industry news round-up!
Majority of Completed Foreclosures Comes from Five States l American Banker
In April 2012, 66,000 foreclosures took place across the country, which is down from 78,000 a year ago.
Foreclosures made up 26% of U.S. home sales in first quarter l CNN Money
Homes in some stage of foreclosure accounted for more than one in four home sales during the first three months of the year, according to a report released Thursday.
Job Growth Weakest in a Year; Unemployment Rate Up l DSNews.com
The economy added just 69,000 jobs in May compared with a revised 77,000 in April down from the originally reported 115,000, the Bureau of Labor Statistics reported Friday. The closely watched unemployment rate inched up to 8.2 percent â a function of an increase in the nationâs labor force to the highest level ever.
Personal Income Growth Slows in April; Consumer Spending Up l DSNews.com
Consumer spending grew just 0.3 percent in April, up slightly from 0.2 percent in March, the Bureau of Economic Analysis reported Friday. Economists had expected spending to be up 0.3 percent. At the same time, personal income grew 0.2 percent in April, BEA said, compared with market expectations of a 0.
Senate Republicans May Support HARP Expansions l Appraisal Institute
Senate Democrats want to further expand the Home Affordable Refinancing Program, extending refinancing to even more Fannie Mae and Freddie Mac borrowers, and it looks like some Republicans also may be on board, HousingWire reported May 24.