Category: Statistics

Refinancing Applications Rise

Spurred by record low mortgage rates, applications to refinance home mortgages rose to a new high last week and applications for new home mortgages were up slightly, according to the Mortgage Bankers Association. The rate at which consumers are applying to refinance their home mortgages hit a new peak. The bankers’ market composite index, which… Continue reading Refinancing Applications Rise

Fresh Evidence Rescue Program Stalls

There are no gifts in this housing recovery. Homeowners received the lowest number of permanent modifications since Christmas this last month through the Obama administration’s Making Home Affordable program, and the number of homeowners dropping out of the rescue program is rising. Nearly half of the number of people entering the program has dropped out… Continue reading Fresh Evidence Rescue Program Stalls

Homes Sales Decline Amid Deeper Economic Worries

By Mike Colpitts Home sales declined sharply in July after the expiration of the home buyer tax credit, falling 27.2% to the lowest level in 15 years, according to the National Association of Realtors. The fall in existing sales was widely anticipated among real estate analysts, who expect deeper economic worries as a result of… Continue reading Homes Sales Decline Amid Deeper Economic Worries

Low Rate Mortgage Lock Out

By Kevin Chiu Mortgage rates hit 4.42% for a 30-year fixed rate mortgage, the lowest on record. But a growing number of homeowners are ignoring the lower rates locked out from obtaining them due to more restrictive mortgage underwriting guidelines. The new lower rates may make great headlines and TV news fodder but they’re doing… Continue reading Low Rate Mortgage Lock Out

Green Energy Housing Renovations Receive $250 Million

By Kevin Chiu A green energy program for single family housing has been supplemented with a program for apartments, providing $250 million to reduce energy costs nationally. The government program provides up to 30% tax credits for homeowners to take advantage of the American Recovery and Reinvestment Act. The funding is part of the Housing… Continue reading Green Energy Housing Renovations Receive $250 Million

Mortgage Rates Drop to New Low Again

Mortgage rates dropped to another record low at 4.42% for the week, the ninth straight week the 30-year fixed rate mortgage has moved lower or stayed the same, according to Freddie Mac. The 5-year adjustable rate mortgage remained at the same rate it was a week ago. The 30-year mortgage moved down just .02% for… Continue reading Mortgage Rates Drop to New Low Again

Refinances Lead Mortgage Surge

A huge surge in the volume of refinancing applications, triggered by record low mortgage rates may indicate improving market conditions are developing. The combined Mortgage Bankers Association index increased 13% over the previous week. Refinancing rose a mammoth 17.1% for the week to reach its highest level since May of 2009 as all-time low mortgage… Continue reading Refinances Lead Mortgage Surge

Foreclosures Rise in July

By Mike Colpitts Foreclosure auctions rose in July, but were down from their peak 14% for the month on residential properties nationally, according to the Realty Trac. However, all initial foreclosure notices issued against properties for the month showed a sharp increase. It was the seventeenth consecutive month total foreclosure activity topped 300,000 units. All… Continue reading Foreclosures Rise in July