Foreclosures Set New Record in 2010 as Repossessions Ease

By Kevin Chiu Nearly 2.9 million U.S. residential properties received foreclosure filings in 2010 setting a new record in the nation’s foreclosure crisis even as homeowner foreclosures eased as a result of the robo-signing scandal, according to RealtyTrac. All combined default notices, scheduled auctions and formal bank repossession notices totaled 3,825,637 filings for the year.… Continue reading Foreclosures Set New Record in 2010 as Repossessions Ease

Mortgage Purchases Move Higher on Lower Rates

By Mike Colpitts Applications for home mortgages increased slightly for the week, indicating that home buying activity is increasing in the New Year, according to the Mortgage Bankers Association. The bankers composite index, which includes both applications for home mortgages and refinances showed a 2.2% rise for the week. However, on an unadjusted basis, when… Continue reading Mortgage Purchases Move Higher on Lower Rates

Mortgage Rates Rise as Buyers Jump

By Mike Colpitts Mortgage rates rose to the highest level since last May as home buyers jumped back into the market, according to Freddie Mac. The rate on a 30-year fixed rate mortgage rose to 4.86%, a .05 move up for the week. The National Association of Realtors pending home index rose 3.5% in November… Continue reading Mortgage Rates Rise as Buyers Jump

Mortgage Rates Soar Higher

Mortgage rates soared to 4.83% on a 30-year fixed rate mortgage to the highest level in more than eight months, according to Freddie Mac. The increase accounted for the largest rise in conventional mortgages since hitting their record all-time low and put the brakes on home buying. Rates rose from 4.61% with an average of… Continue reading Mortgage Rates Soar Higher