Category: Statistics

Mortgages Applications Decline as Refinances Slow

Despite record low interest rates, mortgage applications declined for the first time in weeks last week, including an unexpected slow down in applications for home refinances, the Mortgage Bankers Association said. Applications declined 4.4% on a seasonally adjusted basis from a week ago, and a whopping 5.9% on refinancing alone. The decline marks a slowdown… Continue reading Mortgages Applications Decline as Refinances Slow

Gulf Oil Spill to Drop Homes Only 10%

By Mike Colpitts Gulf coast homes and condos on the immediate coastline in the path of the BP oil spill in Alabama and Florida will suffer only a 10% drop in average values as a result of the oil disaster, according to a new Housing Predictor forecast compiled after more than three months of research.… Continue reading Gulf Oil Spill to Drop Homes Only 10%

Mortgage Loan Fraud Declines

By Kevin Chiu Mortgage loan fraud has declined 25% since its peak in 2007, according to a survey conducted by Core Logic, a real estate research firm that monitors more than 3,000 local U.S. housing markets. The study was released on the heels of the largest Justice Department crackdown in history on perpetrators of mortgage… Continue reading Mortgage Loan Fraud Declines

Crash in Housing Relief Program

The Michigan housing relief program is battling technological failures to help homeowners. The first day unemployed homeowners could apply for relief to pay their home mortgages, the telephone lines and computer systems were so over-loaded they crashed. Housing Finance Agencies in five states are getting $1.5-billion in relief from the Hardest Hit Fund program started… Continue reading Crash in Housing Relief Program

Mortgage Rate Record Lows

Mortgage rates dipped a marginal one-hundredth of one percent, averaging 4.56% on a 30 year fixed rate loan for the week, the lowest since records have been kept, according to Freddie Mac. The decline for the third straight week marks a weakening in consumer confidence over the economy and housing. Home builder confidence is also… Continue reading Mortgage Rate Record Lows

Mortgage Applications Rise

Applications for home mortgages and refinances are soaring higher, showing an increase in activity in home sales and refinancing as a result of near record low loan rates, according to the Mortgage Bankers Association. Low rates coupled with lower home prices are producing the rise in applications. The volume of home re-sales, however, scheduled to… Continue reading Mortgage Applications Rise

Over Whelming Majority Feel U.S. in Economic Depression

An over whelming majority of Americans feel the U.S. economy is in an economic depression, despite government and mass media reports to the contrary. A huge 87% of all those surveyed in the latest Housing Predictor opinion poll say the economy is in a depression. The down beat poll found that only 13% surveyed in… Continue reading Over Whelming Majority Feel U.S. in Economic Depression

Financial Reform Act Includes Mortgage Relief to Aid Millions

By Kevin Chiu Mortgage relief for unemployed homeowners at risk of foreclosure is included in the sweeping financial reform act expected to be signed by President Barack Obama. The aid is aimed at helping millions of homeowners who have been thrown out of work by the troubled economy. Members of Congress agreed to spend $1-billion… Continue reading Financial Reform Act Includes Mortgage Relief to Aid Millions

Home Sales Fall Amid Growing Fears

By Kevin Chiu Existing home sales fell a slight 2.2% in May, but sales remain at a higher level than a year ago alleviating some fears about the housing market, according to the National Association of Realtors. The monthly report also showed a fall in the number of homes listed for sale, signaling an improving… Continue reading Home Sales Fall Amid Growing Fears