Category: Statistics

Mortgage Originations Pick-Up as Rates Level Off

By Mike Colpitts Mortgage originations picked-up last week as home purchases rose, according to the Mortgage Bankers Association. Purchase applications jumped 6.4% from the previous week. Homeowners shopping for refinancing also applied for lower rate mortgages in rising numbers. Refinances rose 4.4% as mortgage rates remained about the same compared to the prior week. The… Continue reading Mortgage Originations Pick-Up as Rates Level Off

Defining U.S. Socialism Hurts With Freddie Mac and Fannie Mae

By Jeanne Roberts Freddie Mac and Fannie Mae are the U.S. two largest mortgage holders. Between them, they own 75% of all the home loans issued in the nation. Thanks to the bursting of the housing bubble and the resulting fallout, the American taxpayer – under the umbrella of the U.S. government, also owns 80%… Continue reading Defining U.S. Socialism Hurts With Freddie Mac and Fannie Mae

First Time Homeownership Slips

By Mike Colpitts Despite first time home purchases increasing due to record low mortgage rates and lower home prices, the actual rate of first time homeownership is slipping for the largest homebuyer age group, according to a survey released by a real estate research firm. The latest trends report from CoreLogic shows homeownership rates for… Continue reading First Time Homeownership Slips

Underwater Refinancing Program Closer

By Mike Colpitts A federal program intended to help underwater homeowners should assist more than 1-million U.S. mortgage borrowers refinance their homes, according to an analysis of the Home Affordable Refinance Program expanded by the Obama administration Monday. The program’s expansion is being developed by the Federal Housing Finance Agency with mortgage lenders and the… Continue reading Underwater Refinancing Program Closer

Home Sales Slide, But Above Year Ago Levels

By Mike Colpitts Homes sales slipped in September following a gain the previous month, but remained ahead of a year ago, according to the National Association of Realtors. The slide in sales represented only a small 3% decrease. Existing home sales, which include the sale of single family homes, townhouses and condominiums, reached an adjusted… Continue reading Home Sales Slide, But Above Year Ago Levels

Mortgage Rates Drop to All Time Record Lows

By Mike Colpitts For the second week in a row mortgage rates dropped to all-time record lows as the U.S. government attempts to energize the housing market and Treasury bonds fall to record lows. The fixed rate on a 30-year mortgage averaged 3.94%, falling below 4% for the first time in U.S. history, according to… Continue reading Mortgage Rates Drop to All Time Record Lows

Home Prices Decline Year Over Year

By Kevin Chiu Home prices declined an average of 4.4% on a year-over-year basis in the U.S. through August, despite a slight increase in home values over summer months as a result of higher home sales, and record low mortgage rates, according to real estate research firm CoreLogic. The decline in home values echoes Housing… Continue reading Home Prices Decline Year Over Year

Homeownership Drops by Largest Amount Since Great Depression

By Jeanne Roberts It’s probably no surprise that the number of individuals owning homes has experienced its biggest drop since the Great Depression, an epoch usually defined as the decade between 1929 and 1939. The figures are from the U.S. Census Bureau, and show that the rate of homeownership fell to 65.1% in April 2010,… Continue reading Homeownership Drops by Largest Amount Since Great Depression

Tax Free Real Estate Purchases Climb

By Mike Colpitts Boosted by lower real estate prices and growing volatility in financial markets, investors are increasing their purchases of tax free real estate investments. Investors are moving away from investing in equities in the stock market and other financials in growing numbers due to a chorus of concerns, including insider trading, automatic machine… Continue reading Tax Free Real Estate Purchases Climb