Here's what we're reading today:
- Shadow inventory is now at "manageable" levels, according to CoreLogic, which tracks the number of properties with mortgages that are seriously delinquent, in foreclosure or held by mortgage servicers. Most of these are distressed properties that are yet-to-hit the market, but likely to put a drag on prices of nearby properties. The October report says that there's now a 7-month supply of such properties, down more than 12 percent from last year. Here's a link to the full report.
- Home builders confidence during December rose for the 8th consecutive month, marking a two-point gain and the highest level since April 2006, according to the National Association of Home Builders. Details here.
- Has the budget deal had an impact today on mortgage rates? Dan Green's mortgage blog says "yes." Find out why.