June 1, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 27, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.0 percent as purchase applications remained at about the same levels as the previous week and refinance applications decreased, [...]
June 1, 2011 (Jeff Alan) Freddie Mac reports that the delinquency rate for single-family homes in its mortgage portfolio decreased to 3.57 percent based on data released in its Monthly Volume Summary for April 2011. That is down from 3.63 percent in March and down from 4.06 percent in April 2010. […]
June 1, 2011 (Jeff Alan) With a current inventory of 1.9 million foreclosed homes, it would take three years to clear out the banks’ bustling inventory of foreclosed homes according to the latest data released by RealtyTrac. A total of 158, 434 U.S. properties that were in some stage of foreclosure were sold during the [...]
May 31, 2011 (Jeff Alan) The number of foreclosures initiated by mortgage servicers declined in April 2011 to levels not seen since 2008 according to the Lender Processing Services (LPS) Mortgage Monitor report. With the exception of last month, March 2011, foreclosure activity has declined every month since mortgage servicers have slowed the pace of [...]
May 31, 2011 (Jeff Alan) The nation’s thrift and loan industry reported continued improved profitability according to the Office of Thrift Supervision (OTS) as the industry recorded its seventh consecutive quarter of profits. […]
May 31, 2011 (Chris Moore) Home prices ran deeper into negative territory in the first quarter of 2011 according to the just released S&P/Case-Shiller Home Prices Indices (HPI), as the leading measure of home prices in the U.S. declined by 4.2 percent following the previous quarter’s 3.6 percent decline. Average home prices nationally are now [...]
May 31, 2011 (Shirley Allen) This years spring home buying season is off to a slow start according to Radar Logic’s RPX Monthly Housing Market Report for March 2011, but investors have jumped in to help fill the void by making a relatively strong showing in the foreclosure market. […]
May 27, 2011 (Jeff Alan) Pending home sales dropped 11.6 percent to 81.9 in April from an already downwardly revised 92.6 in March according to the National Association of Realtors (NAR). Lawrence Yun, NAR’s chief economist blames tight credit as the primary long term factor holding the market back. Read more...
May 27, 2011 (Chris Moore) House Republicans in the Financial Services Committee have drafted a bill that would raise the minimum down payment requirements on mortgage loans insured with the Federal Housing Administration (FHA) from 3.5 percent to 5 percent and one industry giant is pushing back. Read more...
