Real Estate Reads – 8/28/13

Some news concerning the world of real estate:

• U.S. rolls out ‘skin in the game’ mortgage rules
Six U.S. regulatory agencies released a reworked proposal on Wednesday that requires lenders maintain a stake in the loans they bundle and sell as securities, part of efforts to limit the type of underwriting practices which fueled the housing bubble.
• July pending homes sales fall 1.3 percent
Home buyers facing higher interest rates and prices.
• MBA: Mortgage apps drop
Fell for a third straight week as average mortgage rates hit their highest level this year.
• S&P/Case-Shiller: Home price growth slowing down
Buyers discouraged by high rates
• What to make of all the rising rates and state of the housing market
Reasons for the volatile movement in the industry
• Kinks in flood insurance causing problems for St. Pete Beach (Tampa) market
Fears of rising federal flood insurance costs for home and business owners could affect real estate and property taxes
• Group, including real estate agent, accused of seven-figure fraud
Charged with scamming home buyers and banks in Central New York for nine years through falsified loan applications, fake credit reports and inflated home appraisals.
• Former real estate agent pleads to selling stole appliances
Ex-Realtor stole from vacant homes owned by the U.S. Department of Housing and Urban Development.