July 13, 2011 (Shirley Allen) The Secretary of the U.S. Department of Housing and Urban Development (HUD), Shaun Donavan, announced more than $1.9 billion in funds to public housing authorities in 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. […]
July 12, 2011 (Jeff Alan) Year-over-year new home equity loan originations, though in smaller amounts due to falling home values, increased 6.6 percent for the first time since March 2010 according to the latest Credit Trend Report released by Equifax. […]
July 12, 2011 (Shirley Allen) The number of proprietary loan modifications declined slightly in May 2011 according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. The organization reports that 53,000 homeowners received permanent, proprietary loan modifications in May compared to 57,000 in April, a reduction of [...]
July 8, 2011 (Chris Moore) Smaller decreases in home value depreciation may be a signal that the housing market may be stabilizing as home values fell 0.48 percent in May 2011 compared to April and are down 7.6 percent compared to May 2010 according to Zillow.com. […]
July 8, 2011 (Shirley Allen) Both long and short-term mortgage rates increased last week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) as Treasury yields ended the week higher following the end of the Federal Reserve’s monetary easing policies. […]
July 8, 2011 (Shirley Allen) Recognizing that the current economic hardships have made current forbearance programs inadequate, the Obama Administration announced adjustments to the Federal Housing Administration’s (FHA) Special Forbearance Program that will require mortgage servicers to extend the forbearance for FHA borrowers who qualify from four to 12 months. […]
July 8, 2011 (Jeff Alan) Clear Capital expects home prices to drop another 2.4 percent in the second half of 2011, despite a 0.9 percent price increase in the second quarter, as a lack of consumer demand needed to produce sustained price increases has yet to materialize. Clear Capital also says prices have begun to [...]
July 7, 2011 (Shirley Allen) According to the data collected on July 5, 2011, for LendingTree’s Weekly Mortgage Rate Pulse, average home loan rates offered by network lenders was 4.83 percent (5.03% APR) for 30-year fixed mortgages, which is up from 4.69 percent reported the previous week, 4.01 percent (4.32% APR) for 15-year fixed mortgages, [...]
July 6, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 1, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.2 percent as refinance activity plummeted due to rising interest rates. […]
