Category: Statistics

Appraisal Headaches Plague Housing Market

By Kevin Chiu A handful of new appraisal services hitting the market to help lenders get a handle on foreclosures and mortgage refinancing are producing headaches for the housing market. But more affordable alternatives to full appraisals are springing up to replace broker price opinions. Street Links Lender Solutions has launched a Liquidation Value Report… Continue reading Appraisal Headaches Plague Housing Market

Investors Home Buying Binge Rages

By Mike Colpitts Investors accounted for almost 1 in 4 home purchases during the month of January, up to 23% of purchases, demonstrating that the home buying binge by investors is controlling a large portion of the U.S. housing market as bargain hungry investors attempt to cash in on deals. The figure was up 2%… Continue reading Investors Home Buying Binge Rages

Record Low Mortgage Rates Drive Refinances

By Mike Colpitts Refinances jumped 13% in the last week to trigger a major jump in mortgage refinancing as consumers took advantage of record low mortgage rates, according to the Mortgage Bankers Association. The drop in rates, however, seemed to do little to get more home purchasers off the fence to take out applications for… Continue reading Record Low Mortgage Rates Drive Refinances

Home Mortgage Demand Rises on Lower Rates

By Mike Colpitts Demand for home mortgage purchase applications rose for the first time in more than a month, according to the Mortgage Bankers Association survey. The application for home purchase loan applications rose 4.4% for the week on near record low mortgage rates ending March 9. However, the refinancing share of applications for home… Continue reading Home Mortgage Demand Rises on Lower Rates

Secret Code Separates Mortgage Approval

By Riekie Karstens A loan officer submits a mortgage application for approval from the automated underwriting system, which is used in the mortgage industry to quickly separate the wheat from the chaff to determine whether applicants qualify for a mortgage. A secret code separates the wheat from the chaff in the loan approval process. Creditors… Continue reading Secret Code Separates Mortgage Approval

Mortgages Fall Four Weeks in a Row

By Mike Colpitts Mortgage applications fell for the fourth straight week, indicating a slowdown in the volume of home mortgages for refinancing and home purchases is sustaining a sluggish pattern, despite near record low mortgage rates, according to the Mortgage Bankers Association. The fall in applications, however, was only 1.2% for the Market Composite Index,… Continue reading Mortgages Fall Four Weeks in a Row

Single Women May Be A Key to Reviving Housing Market

By Kiesha Joseph According to a report by the Joint Center for Housing Studies, single women have been scooping up property like never before. This is great news for not only single women, but for the US housing market as a whole. Many expert realty groups, including the National Association of Realtors, believe single ladies… Continue reading Single Women May Be A Key to Reviving Housing Market

Mortgage Modifications Slip, but Outpace Foreclosures

By Mike Colpitts More than 1-million U.S. home mortgages underwent permanent modifications in 2011, according to the independent alliance of mortgage servicers Hope Now. The figure represents a steep decline of 40% from a year ago, but outpaces the number of foreclosures sold during the year. In December affiliates of the organization completed 80,000 loan… Continue reading Mortgage Modifications Slip, but Outpace Foreclosures