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Mortgage Loan Demand Spikes As Rates Fall
According to the Mortgage Bankers Association's Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 4.18 percent from 4.21 percent the previous week. The drop brought rates to their...
Analysts, Experts Say Rate Of Recovery Varies By Location
A panel of industry analysts, insiders, and experts brought together for a recent mortgage-banking conference expressed hope for the housing market but cautioned that the rate of recovery will vary greatly depending on location. Eric Fox, vice president of statistical...
Unemployment Drop Offers Hope For Housing Market
In November, the unemployment rate dropped to 8.6 percent. The decline was the largest since the recession began and marked the first time the rate has fallen below 9.0 percent since March 2009. The data from the U.S. Bureau of Labor Statistics shows private...
Report Finds Price Stabilization, Increasing Demand For Housing
According to analysis from Radar Logic, the housing market is showing increasing signs of stabilization and short-term trends indicate supply and demand are returning to normal. The RPX Monthly Housing Market Report reflects the 28-day aggregated value of Radar...
Pending Home Sales Surge 10.4 Percent
Pending home sales surged in October, rising 10.4 percent above September's pace and 9.2 percent above last year. According to the National Association of Realtors, pending sales, which reflect contract signings but not closings, were up 17.7 percent in the Northeast,...
Average Mortgage Rate Falls To 4.21 Percent
According to the Mortgage Bankers Association's Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 4.21 percent last week from 4.23 percent the week before. The average 30-year rate on...
Home Values Hold Steady In Third Quarter
The S&P/Case-Shiller Home Price Indices shows the U.S. National Home Price Index up just 0.1 percent from the second quarter. But, though the national index registered a drop of 3.9 percent from the third quarter of last year, the rate of decline improved over the...
New Home Sales Rise Again In October
After rising 5.7 percent in September, new home sales increased again in October. According to data released by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family homes rose 1.3 percent above September's rate and are...
Demographics, Falling Vacancies Will Accelerate Housing’s Recovery
A combination of demographics and vacancies provides hope for the housing market's future, despite the relatively slow pace of the recovery. According to John Burns Real Estate Consulting, housing starts, sales, and prices have been fairly flat in recent months but...
Mortgage Rates Unchanged, Purchase Demand Up
According to the Mortgage Bankers Association's Weekly Applications Survey, the seasonally adjusted Purchase Index rose 8.2 percent last week to its highest level since August 12. Despite the gain in purchase demand, the Market Composite Index, which measures total...