Mortgage Apps See Slight Rise, Interest Rates Move Little
Mortgage application volume seems to have peaked, despite the record low interest rates currently on offer, which also appear to have bottomed.
Home loan apps increased just three percent on a seasonally adjusted basis for the week ending March 27 after surging a week earlier, the MBA reported today.
On an unadjusted basis, the index was up 2.9 percent compared to one week earlier and 68.8 percent compared Read more
New Home Sales Rise in Latest Report
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The U.S. Census Bureau and the Department of Housing and Urban Development today announced that sales of new, single-family homes rose in the month of February, increasing 4.7 percent from January’s numbers.
“New home sales rebounded nicely following January’s report of record-low activity. The number of existing homes on the market at astonishing prices has led many builders to scale back on construction while Read more
Home Prices Rise in January: FHFA
That’s right, home prices rose in January, it’s not a typo.
U.S. home prices climbed 1.7 percent on a seasonally adjusted basis from December to January, according to the Federal Housing Finance Agency’s monthly House Price Index.
However, for the 12 months ending in January, home prices fell 6.3 percent, and the home price index is 9.6 percent below its April 2007 peak.
Before you get Read more
Mortgage Delinquencies Rise for Eighth Straight Quarter
Mortgage loan delinquencies increased for the eighth straight quarter, according to the latest data from credit bureau TransUnion.
The data, which is pulled from 27 million anonymous, individual credit files, found a whopping 4.58 percent of mortgage holders nationally were at least two months behind in payments, up from 3.96 percent a quarter earlier and 2.99 percent a year ago.
The 60 day+ delinquency Read more
Mortgage Rates Rise on Better Than Expected Economic Data
Mortgage rates rose this week thanks to better than expected economic data, mortgage financier Freddie Mac reported today.
The benchmark 30-year fixed climbed to 5.25 percent during the week ending February 5, up from 5.10 percent a week earlier and 5.67 percent a year ago.
The 15-year fixed averaged 4.92 percent, up from 4.90 percent a week ago, but below its year-ago average of 5.03 percent.
Home Loan Apps Rise Slightly as Mortgage Rates Look to Fall
Mortgage application volume rose a modest 1.5 percent on a seasonally adjusted basis for the week ending November 21, the MBA reported today.
On an unadjusted basis, the home loan application index actually fell one percent compared to the previous week and was down 21.9 percent compared to the same period a year ago.
Refinance applications slipped 2.1 percent, while purchase applications and FHA lending Read more
Foreclosure Filings Rise for 34th Consecutive Month; Streak Could End
Foreclosure filings were reported on 279,561 U.S. properties in October, a five percent increase from the previous month and a 25 percent increase from the same period a year earlier, RealtyTrac reported today.
However, thanks to recent legislation, foreclosure filings have dropped precipitously in key states, most notably, California.
In the Golden State, overall foreclosure activity was down by double-digit Read more