Category: Statistics

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

Mortgage Rates Drop Under 4.00%

By Mike Colpitts The 30-year fixed rate mortgage dropped to 3.99% or just below the 4.00% barrier this week, according to Freddie Mac. The dip in average mortgage rates from 4.08% last week came on mixed economic news, with reports on consumer confidence over the U.S. economy and the housing market showing weaker results. The… Continue reading Mortgage Rates Drop Under 4.00%

Larger Number of Homeowners Will Walk from Mortgages

Five years into the housing downturn, a larger number of homeowners with mortgages say they will walk away from their homes if their property values continue to drop, according to a new Housing Predictor opinion poll. Almost half or 47% said they would walk away from their mortgages, while almost an equal number or 53%… Continue reading Larger Number of Homeowners Will Walk from Mortgages

Real Estate Recovery Springs to Life

The spring home selling season is just getting started, but signs are growing that the season is already getting off to a faster start. Barclays Capital group upgraded four new homebuilder stocks, including hard hit KB Home and Pulte Group from hold to buy. Foot traffic at new homebuilder subdivisions is much higher than since… Continue reading Real Estate Recovery Springs to Life

Foreclosures Drop But on Pace to Hit Record

By Mike Colpitts Foreclosure filings dropped a slim 2% in February, but are still on pace to hit a new record volume for 2012, despite an increase in short sales by lenders on homes in default of their mortgages, according to RealtyTrac. February foreclosure activity in the 26 states with judicial foreclosures rose 2% from… Continue reading Foreclosures Drop But on Pace to Hit Record

Majority Surveyed Want to Buy Homes

A large majority of respondents to a new Housing Predictor survey said they want to buy their first home or purchase another home, indicating that pent-up demand is growing in the U.S. housing market, despite the decline in home values throughout the majority of the country. An over-whelming majority or 72% of those surveyed said… Continue reading Majority Surveyed Want to Buy Homes