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Average Mortgage Rate Falls To 4.58 Percent
According to The Mortgage Bankers Association's Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell to 4.58 percent last week from 4.69 percent the week before. The decline puts mortgage rates at their lowest level...
Foreclosure Starts, Delinquencies Drop In April
Seriously delinquent mortgages, which include those that are 90 days overdue or in foreclosure, fell nearly 11 percent from a year ago, according to Lender Processing Services' Mortgage Monitor report. Foreclosure starts fell 31 percent in April and were down 14.7...
Home Prices Fall Less Than 1 Percent Month Over Month
According to the S&P/Case-Shiller composite index of 20 metropolitan areas, home prices declined 0.2 percent in March from February. The report shows prices are at mid-2002 levels and slipped in 18 of the 20 cities tracked. Despite a slowly recovering economy,...
Pending Sales Show Effects Of Economic Soft Patch
Pending home sales fell in April after two consecutive months of gains. According to the National Association of Realtors' Pending Home Sales Index, pending sales, which reflect contracts not closings, dropped 11.6 percent from March. Lawrence Yun, NAR's chief...
Housing Forecast Calls For Increased Activity This Year
In his latest economic outlook report, Fannie Mae's chief economist, Doug Duncan, forecasts a modest improvement in housing activity this year. Though the number of distressed homes on the market continues to put pressure on prices, Duncan writes that high housing...
Mortgage Loan Demand Rises, So Do Rates
According to The Mortgage Bankers Association's Weekly Applications Survey, demand for mortgage loan applications increased 1.1 percent last week from the week before. The Refinance Index rose to its highest level since December 10, 2010, increasing 0.9 percent. The...
New Home Sales Jump 7.3 Percent, 2nd Straight Monthly Increase
Sales of new single-family homes rose 7.3 percent in April. The U.S. Census Bureau and the Department of Housing and Urban Development's New Residential Sales Report shows new home sales were at a seasonally adjusted annual rate of 323,000. Economists had forecast a...
Americans Feeling More Optimistic About Home Prices, The Economy
Fannie Mae's First Quarter National Housing Survey found Americans are more optimistic about home prices, the economy, and their personal finances than they were during the last quarter of 2010. According to the survey, which polled homeowners and renters between...
Mortgage Delinquency Survey Finds Housing On The Mend
According to the Mortgage Bankers Association's National Delinquency Survey, the mortgage market has improved in every category of default. During the first quarter, the combined percentage of loans in foreclosure or at least one payment past due was 12.31 percent on...
Existing Home Sales Flat In April, Values Stable
Although existing-home sales have risen in six of the past nine months, sales in April were virtually unchanged from the month before. According to The National Association of Realtors, existing-home sales eased 0.8 percent to a seasonally adjusted annual rate of 5.05...