May 20, 2011 (Shirley Allen) Existing home sales continued its ride along the bottom of the housing barrel as completed transactions declined 0.8 percent in April, 2011, compared to March according to the National Association of Realtors (NAR). Although the market has managed six gains in the last nine months, Lawrenece Yun, chief economist of [...]
May 20, 2011 (Jeff Alan) Wells Fargo is holding another Home Preservation Workshop in Las Vegas on May 25 and 26, 2011. The event is being held at the Tropicana Conference Center and will be open from 9:00 a.m. until 7:00 p.m. each day. The last day to register for this event is Monday May [...]
May 19, 2011 (Chris Moore) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows fixed-rate mortgages declining for the fifth consecutive week with the 30-year fixed averaging 4.61 percent and the 15-year averaging 3.80 percent amid mixed economic and housing data. Read more...
May 19, 2011 (Chris Moore) A new round of seven reform bills have been unveiled by House Financial Services Committee Republicans meant to continue the reform of Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac. This is on top of the eight bills passed by the Republican controlled House of Representatives that have not [...]
May 19, 2011 (Jeff Alan) The continuing historically low mortgage interest rates have prompted refinancing borrowers to overwhelmingly choose fixed rate mortgage loans over adjustable rate mortgages (ARM). In the first quarter of 2011, when borrowers financed their existing mortgage, over 95 percent chose a fixed rate loan according to statistics compiled by Freddie Mac. [...]
May 19, 2011 (Shirley Allen) The Department of Housing and Urban Development (HUD) has announced they will speed disaster relief assistance to areas of South Dakota, providing support to homeowners and low-income renters who have been forced from their homes following heavy flooding in the month of March. Read more...
May 19, 2011 (Shirley Allen) According to the data collected on May 17, 2011, for LendingTree’s Weekly Mortgage Rate Pulse, average home loan rates offered by network lenders was 4.79 percent (5.03% APR) for 30-year fixed mortgages, which is down from 4.86 percent from the previous week, 4.00 percent (4.39% APR) for 15-year fixed mortgages, [...]
May 18, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 13, 2011. The Market Composite Index, a measure of mortgage loan application volume, increased 7.8 percent on a seasonally adjusted basis from last week as refinance mortgage applications lifted the overall index higher [...]
May 18, 2011 (Jeff Alan) The national mortgage delinquency rate decreased to 6.19 percent in the first quarter of 2011 according to credit giant TransUnion. Loans in which borrowers were 60 days or more past due declined for the fifth consecutive quarter and TransUnion predicts that delinquencies are expected remain flat or slow in their [...]
