May 27, 2011 (Chris Moore) Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), which shows fixed rate mortgages declining slightly from the previous week, while rates for adjustable rate mortgages (ARM) climbed higher . With the landmark 30 year fixed rate mortgage only dropping 2 basis points this week and two [...]
May 26, 2011 (Shirley Allen) The Department of Housing and Urban Development (HUD) has announced they will speed disaster relief assistance to areas of North Dakota and Idaho, providing support to homeowners and low-income renters who have been forced from their homes following severe winter storms and flooding in March and April. Read more...
May 26, 2011 (Chris Moore) CoreLogic has released its 2011 Short Sale Research Study, “CoreLogic Analysis on Short Sale Trends, Risks, and Opportunites” and has found that “suspicious” short sale activity may cost the lending industry $375 million in 2011 with higher losses expected in the future as the pool of distressed properties increases. Read [...]
May 26, 2011 (Jeff Alan) According to a recent poll by Rasmussen, 51 percent of homeowners believe that they owe more on their mortgage than their home is worth, and if you are underwater or behind on your payments, the Treasury Department and the Department of Housing and Urban Development (HUD) have introduced a way [...]
May 26, 2011 (Shirley Allen) According to the data collected on May 24, 2011, for LendingTree’s Weekly Mortgage Rate Pulse, average home loan rates offered by network lenders was 4.82 percent (5.03% APR) for 30-year fixed mortgages, which is up from 4.79 percent from the previous week, 4.04 percent (4.38% APR) for 15-year fixed mortgages, [...]
May 25, 2011 (Shirley Allen) The ability for Americans to own a home has reached a record level according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). Data from the HOI shows that 74.6 percent of all new and existing homes sold in the first quarter of 2011 were affordable to [...]
May 25, 2011(Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 20, 2011. The Market Composite Index, a measure of mortgage loan application volume, increased 1.1 percent as the previous weeks surge in refinance activity carried over for another week as borrowers continued to take [...]
May 25, 2011 (Jeff Alan) Sales of new single-family homes increased by 7.3 percent in April, 2011, compared to March, according to the U.S. Census Bureau, but are 23.1 percent below April 2010. The seasonally adjusted estimate of new homes available for sale at the end of April was 175,000, the least amount of new [...]
May 20, 2011 (Chris Moore) The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey’s Distressed Property Index (DPI), fell slightly to 47.7 percent in April but predicts a continuing downward pricing trend as the absence of any government first-time buyers assistance has increased the gap between the number first time buyers on the market and the amount [...]
