Category: Statistics

Mortgage Rates Fall Three Straight Weeks

By Mike Colpitts Shaken by troubled financial markets and weaker than expected employment growth, mortgage rates fell for the third straight week, with the 15-year fixed rate mortgage hitting a new all-time record low, according to Freddie Mac. The 30-year fixed rate mortgage averaged slightly above its record low, reaching 3.88% with an average 0.7… Continue reading Mortgage Rates Fall Three Straight Weeks

Mortgage Rates Fall Three Straight Weeks

By Mike Colpitts Shaken by troubled financial markets and weaker than expected employment growth, mortgage rates fell for the third straight week, with the 15-year fixed rate mortgage hitting a new all-time record low, according to Freddie Mac. The 30-year fixed rate mortgage averaged slightly above its record low, reaching 3.88% with an average 0.7… Continue reading Mortgage Rates Fall Three Straight Weeks

Mortgage Slowdown Resumes Despite Low Rates

By Kevin Chiu Led by a slowdown in mortgage refinancing activity, mortgage applications slowed for the sixth time in seven weeks this past week to keep the housing market at a snails pace, according to the Mortgage Bankers Association. The disappointing news came after an increase in mortgage applications the prior week. The slowdown was… Continue reading Mortgage Slowdown Resumes Despite Low Rates

Housing Starts Unexpectedly Slide

By Mike Colpitts Despite record warm weather making it attractive for new home builders, housing starts saw an unexpected slide in March, but new home building permits rose to the highest level in three and a half years, according to the Commerce Department. The drop in new home construction caught economists off guard as starts… Continue reading Housing Starts Unexpectedly Slide

Short Sales Double Leap

By Ryan Jackson Bank assisted short sales or mortgage holders who are approved to sell their homes for less than what is owed on a mortgage leaped to double the number of short sales approved in 2009 last year. There were 227,570 short sales approved in 2011 accounting for a 12% increase from the previous… Continue reading Short Sales Double Leap

Mortgage Rates Drip Lower

By Ryan Jackson Borrowing rates for consumers shopping to refinance homes or buy another property just saw a small drop lower to reach 3.98% on a fixed 30-year loan, according to Freddie Mac. Mortgage rates on most other leading categories also fell modestly. The fixed 15-year mortgage averaged 3.21%, a decline of just two basis… Continue reading Mortgage Rates Drip Lower

Mortgage Slowdown Resumes Despite Low Rates

By Kevin Chiu Led by a slowdown in mortgage refinancing activity, mortgage applications slowed for the sixth time in seven weeks this past week to keep the housing market at a snails pace, according to the Mortgage Bankers Association. The disappointing news came after an increase in mortgage applications the prior week. The slowdown was… Continue reading Mortgage Slowdown Resumes Despite Low Rates

Mortgage Rates Creep Higher

By Mike Colpitts Despite the Federal Reserve’s best efforts to keep mortgage rates low, conventional home loan borrowing rates are slowly climbing. The hike in rates is developing because of higher yields being paid for U.S. Treasuries combined with improving economic news. The upward trend in rates is developing as better economic news about the… Continue reading Mortgage Rates Creep Higher

Mortgage Modifications Drop Off

By Mike Colpitts Mortgage modifications experienced a 20% drop off in February in the private sector as lenders picked up the pace of foreclosures following the government’s $25 billion agreement with the nation’s biggest banks. The drop off in permanent mortgage modification tabulated by Hope Now, a private non-profit organization leading the effort to gain… Continue reading Mortgage Modifications Drop Off